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ZETA
No. 197Price
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- Coin Introduction
What is ZetaChain (ZETA)?
ZetaChain is a groundbreaking Layer 1 blockchain and interoperational platform, revolutionizing cross-chain interactions and smart contract execution. It pioneers omnichain capabilities, facilitating seamless data exchange and operation across diverse blockchains.
Notably, ZetaChain extends its interoperability beyond smart contract-enabled platforms like Ethereum or Polygon, encompassing even non-smart contract chains like Bitcoin and Dogecoin. Currently prioritizing integration with major players such as Bitcoin, Ethereum, Polygon, and BNB Chain, ZetaChain envisions a future where the global financial ecosystem is open to all, offering fluidity, security, and unprecedented possibilities for innovation.
Who created ZetaChain (ZETA)?
Founded by Ankur Nandwani, the visionary mind behind Basic Attention Token (BAT), ZetaChain launched its testnet in 2022, garnering immense attention and securing $27 million in venture capital by 2023. With its mainnet launched on Feb 1, 2024, ZetaChain promises to bridge the gap between blockchains, empowering users and developers to explore and exploit the advantages of various networks.
How does ZetaChain work?
ZetaChain stands as a beacon of decentralization and transparency in the realm of blockchain networks. Leveraging the robust infrastructure of Cosmos SDK and Tendermint Consensus, it establishes itself as a decentralized and public platform. Unlike conventional cross-chain solutions that often rely on centralized trust models susceptible to exploits, ZetaChain adopts a Proof-of-Stake framework. This ensures that every transaction, including cross-chain activities, is executed with full transparency and verifiability, minimizing trust-related risks.
At the heart of ZetaChain's architecture lies its hyper-connected nodes, equipped with observers that diligently monitor transactions across connected chains. Through the innovative Trust Secure Signer (TSS) architecture, these nodes enable seamless interaction and transaction verification across multiple chains. Developers are empowered with omnichain smart contracts, a distinctive feature of ZetaChain, allowing for native deployment capable of interacting fluidly with connected chains. This paradigm shift in smart contract functionality opens doors to a new era of decentralized application development, where cross-chain interoperability is seamlessly integrated into the fabric of the network.
Furthermore, ZetaChain introduces cross-chain message passing, streamlining the transfer of data and value between different layers of the network with minimal complexity. This simplification accelerates the development of powerful cross-chain applications, enabling developers to implement sophisticated functionalities with ease. Moreover, ZetaChain's ability to manage external assets expands the horizon of decentralized applications, allowing them to oversee assets from non-native chains like Bitcoin and Dogecoin. In essence, ZetaChain emerges as a versatile platform, offering developers the tools and infrastructure necessary to navigate the intricate landscape of decentralized finance and application development.
ZETA Tokenomics
What is ZETA used for?
The ZetaChain ecosystem's token economics revolve around fixed block rewards initially, transitioning to variable inflation, incentivizing validators. ZETA is used for transaction fees, distributed among validators and participants, bolstering network security. Cross-chain messaging involves burning ZETA at the source and minting at the destination, facilitating value transfer. Core Liquidity Pools, consisting of ZETA and external assets, enable transactions within ZetaChain and across connected chains, with LPs receiving incentives in native tokens.
Token Distribution
ZetaChain's token distribution strategy is designed for long-term sustainability, with an initial supply of 2.1 billion ZETA tokens.
Key allocations include the User Growth Pool (10%), Ecosystem Growth Fund (12%), Validator Incentives (10%), Liquidity Incentives (5.5%), Protocol Treasury (24%), Core Contributors (22.5%), and Purchasers and Advisors (16%).
Tokens are unlocked gradually over time, with varying release schedules to promote stability and growth. Users can stake locked ZETA to validators, enhancing network security. The distribution model supports initiatives like user-base expansion, ecosystem development, liquidity provision, and community engagement, fostering ZetaChain's utility and resilience.
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