ZetaChain: Innovative Interoperability Technology for Seamless Asset Transfer Across All Chains

In the wave of the multi-chain era, numerous public chains have emerged one after another, but the accompanying issues are liquidity withdrawal and capital exhaustion. Some public chains rely on cross-chain bridges to introduce assets, and when these bridges have security vulnerabilities, the entire ecosystem faces a devastating blow, which undoubtedly sounds an alarm for the entire industry.

It is against this backdrop that ZetaChain was born. As a forward-looking, full-chain interoperability platform, it aims to address the issues of fragmentation and limitations present in the current 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 seasoned leaders from well-known companies in the industry. These team members translate their extensive experience in the Web3 field and deep insights into market demands into ZetaChain's core technology and strategic direction. 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.

Interoperability has always been a core topic in the development of blockchain. ZetaChain not only provides a brand new solution from a technical perspective but also innovates the standards in its implementation. Through its unique multiparty 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 truly full-chain interoperability and asset transfer platform by providing full-chain accounts. Below is an in-depth interview with the ZetaChain team, revealing how this project brings transformation to the decentralized ecosystem in the Web3 era.

Background of ZetaChain's Core Contributors

The core contributors of ZetaChain recognized the necessity of establishing ZetaChain and the concept of the "only blockchain needed" after participating in multiple Web3 projects. Currently, developers of decentralized applications face complexity issues when building products for multiple chains, and this step is essential for seizing opportunities in the Web3 market. They also often need to consider how to ensure that their products can adapt to future technological developments and changes. ZetaChain not only addresses these issues but also simplifies the user experience. These challenges stem directly from the team's previous work experience in the cryptocurrency industry.

Universal Interoperability Implementation of ZetaChain

ZetaChain employs a multi-party computation system, where each signature validator 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), validators can sign transactions from this TSS account. Since the TSS account is a standard external account, it does not require executing smart contract logic on the connected chain, which enables interoperability even with chains like Bitcoin that lack smart contract support.

Tokens transferred to the TSS address on the connected chain will become 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 that it is architecturally simpler, as it does not require deploying and managing dozens of contracts across different chains. Omnichain also enables interoperability on non-smart contract chains like Bitcoin, effectively providing a way to build Omnichain smart contracts for Bitcoin users.

Features of the ZetaEVM Module

ZetaChain uses the Ethermint Cosmos SDK module, which provides full EVM compatibility. In terms of single-chain performance and security, ZetaChain is comparable to other Cosmos blockchains that use the same EVM module. To achieve Omnichain functionality, the ZetaChain team developed a custom Cosmos SDK module, EVM contracts, and an off-chain observer called zetaclient, all of which enhance the Omnichain capabilities of conventional EVM contracts.

The Multi-Chain Functionality of ZetaChain

ZetaChain does not require a third-party cross-chain bridge, as ZetaChain's own mechanism provides the functionality for cross-chain messaging and token transfers. ZetaChain focuses on moving native non-wrapped assets between different chains, allowing users to receive native tokens on the target chain. This makes the entire process more secure, as once the cross-chain transfer is complete, users no longer rely on ZetaChain (or anyone else) to return assets to the original chain.

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

Advantages of Technology Selection

ZetaChain uses the Comet BFT consensus engine, which provides 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 allows the ZetaChain protocol team to develop modules that implement cross-chain messaging and support for interchangeable tokens in Omnichain contracts.

Strategies to Attract Users and Developers

ZetaChain actively builds relationships with developers by participating in various events, organizing hackathons, and publishing development documentation to help them build applications. They have cultivated close relationships with developers, proactively seeking their feedback and suggestions. Additionally, they have established an ecosystem grant program to support promising developers in making Omnichain-related innovations on ZetaChain.

Ecological Planning and Key Directions

ZetaChain initially focused on DeFi projects because they observed a strong demand from users and developers in this field. Despite the current bear market environment, the DeFi sector continues to maintain strong development momentum, so it makes sense that there is robust demand for multichain expansion and growth. However, they also collaborate extensively with developers and DApps across various industries, including gaming, NFTs, social finance, and payments.

Asia Community Strategy

Asia remains the core area of Web3. ZetaChain is proud of the communities established in Asia and their enthusiasm for ZetaChain. They collaborate with local ambassadors and communities and regularly participate in key events to ensure they stay connected and responsive to the needs of developers and local communities.

Mainnet Launch and Potential Airdrop

ZetaChain is currently unable to provide detailed information about the specific launch time of the mainnet. They recommend following and subscribing to their social media accounts to ensure timely updates on the latest news and announcements.