ZetaChain: Innovative full-chain interoperability technology for free flow of cross-chain assets

In the wave of the multi-chain era, numerous public chains have emerged, but along with them come issues of liquidity retreat and capital depletion. Some public chains rely on cross-chain bridges to introduce assets, and when security issues arise with these cross-chain bridges, these ecosystems suffer severe blows, ringing alarm bells for the entire industry.

In this context, ZetaChain was born. As a forward-looking omnichain interoperability platform, ZetaChain is dedicated to addressing the fragmentation and limitations within the existing blockchain ecosystem. By seamlessly connecting assets and data across different blockchain networks, ZetaChain opens up new possibilities for the development and operation of decentralized applications (DApps).

The core team of ZetaChain brings together senior industry leaders from several well-known companies. These team members translate their rich experience in the Web3 field and deep insights into market demands into the core technology and strategic direction of ZetaChain. Their shared vision is to create a blockchain that can serve as a passport to the Web3 world, thereby simplifying and accelerating the development of decentralized applications and enhancing user experience.

In the development of blockchain, interoperability has always been a core issue. ZetaChain not only provides innovative solutions technically but also innovates standards in its implementation. Through its unique multi-party computation system and threshold signature scheme, ZetaChain achieves interoperability with traditional non-smart contract chains such as Bitcoin and Dogecoin.

ZetaChain is committed to becoming a true cross-chain interoperability and asset transfer platform by providing full-chain accounts. Below is an in-depth discussion of how ZetaChain is transforming the decentralized ecosystem in the Web3 era.

Technical Innovations of ZetaChain

ZetaChain adopts a multi-party computation system, where each signature verifier holds a portion of the private key. On each connected chain, there is an account derived from this private key. Using a Threshold Signature Scheme (TSS), verifiers can sign transactions from this TSS account. Since the TSS account is a regular external account, it does not need to execute smart contract logic on the connected chain, which allows interoperability even for chains like Bitcoin that do not support smart contracts.

Tokens transferred to the TSS address on the connected chain will be converted into ZRC-20 wrapped tokens on ZetaChain. Withdrawing ZRC-20 from ZetaChain to the connected chain will trigger the transfer of tokens from the TSS address to the recipient.

Advantages of Omnichain Technology

Omnichain contracts allow DApp developers to create DApps that can accept inputs from any connected chain and trigger outputs to any connected chain. Compared to cross-chain messaging, the advantage of Omnichain is its simpler architecture, as it does not require deploying and managing a large number of contracts across different chains. Omnichain also enables interoperability on non-smart contract chains, effectively providing Bitcoin users with a way to build Omnichain smart contracts.

ZetaEVM Module

ZetaChain uses the Ethermint Cosmos SDK module, providing full EVM compatibility. In terms of single-chain performance and security, ZetaChain is comparable to other Cosmos blockchains using the same EVM module. To achieve omnichain functionality, the ZetaChain team developed custom Cosmos SDK modules, EVM contracts, and an off-chain observer called zetaclient, which together enhance the omnichain capabilities of conventional EVM contracts.

Innovation in Cross-Chain Asset Transfer

ZetaChain does not rely on third-party cross-chain bridges but instead provides cross-chain messaging and token transfer capabilities through its own mechanisms. It focuses on moving native, unwrapped assets between different chains, allowing users to obtain native tokens on the target chain. This approach enhances security, as once the cross-chain operation is complete, users no longer depend on ZetaChain to return assets to the original chain.

Although there are ZRC-20 wrapped tokens on ZetaChain that represent assets transferred from connected chains, these wrapped tokens only exist during the transaction process for operations such as cross-chain trading, and the end users do not interact with them directly.

Technical Foundation and Performance

ZetaChain adopts the Comet BFT consensus engine, providing instant transaction finality, high throughput, and reliability. The Cosmos SDK offers developers a range of ready-made building blocks, such as staking modules, governance modules, and EVM-compatible layers. The modularity of the Cosmos SDK enables the ZetaChain team to develop modules that implement cross-chain messaging and support for interchangeable tokens in Omnichain contracts.

Ecosystem Development

By the end of November, ZetaChain's testnet has had over 1.34 million independent addresses, deployed nearly 40,000 contracts, and initiated over 31.77 million transactions. ZetaChain actively builds relationships with developers by participating in various events, organizing hackathons, and publishing development documentation, helping them build applications. In addition, ZetaChain has also established an ecosystem grant program to support promising developers in Omnichain-related innovations on ZetaChain.

Future Development Direction

ZetaChain initially focused on DeFi projects due to the strong demand from users and developers in this field. Although it is currently in a bear market environment, the DeFi sector continues to maintain a strong development momentum, with robust demand for multi-chain expansion and growth. At the same time, ZetaChain also collaborates widely with developers and DApps in areas such as gaming, NFTs, social finance, and payments.

ZetaChain is actively developing its Asian community, believing that Asia remains the core area of Web3. The team collaborates with local ambassadors and communities, regularly participating in important events to ensure connection and responsiveness to developers and local community needs.

Regarding the specific time of the mainnet launch, ZetaChain has not yet provided detailed information. Interested users can follow their social media accounts for the latest news and announcements.