About ZetaChain (ZETA)
ZetaChain is a Layer 1 blockchain platform featuring inherent chain-agnostic interoperability. It is compatible with multiple blockchains and systems like Ethereum Virtual Machine (EVM), Cosmos/IBC, Bitcoin, Dogecoin, and Tron. ZetaChain supposedly offers messaging capabilities that enable the seamless transfer of data and native assets across various chains without the need to wrap these assets.
As per the project, ZetaChain operates by providing a platform for developers to create omnichain decentralized applications (odApps). These applications can manage and transfer funds across different blockchains using a single smart contract. ZetaChain's interoperability is broad, extending even to blockchains that traditionally do not support smart contracts, such as Bitcoin and Dogecoin.
ZetaChain is built on the Cosmos SDK and Tendermint consensus, incorporating a Proof of Stake (PoS) system. Its architecture consists of validators, observers, and signers. This architecture enables decentralized, trustless, and transparent connectivity with external blockchains and layers.
ZetaChain was founded by an early Coinbase employee who also contributed to the creation of the Basic Attention Token (BAT). Its investors comprise key figures and organizations in the cryptocurrency realm, including major market makers, top exchanges, and early employees of notable crypto platforms like Coinbase and Binance.
The ZETA token is primarily used for facilitating cross-chain value transfers, securing the ZetaChain network through staking in its Proof of Stake system, and paying transaction fees within the network.