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Price (USD)$ 2.26
Circulating SupplyZETA 236.46875M
Volume (24h)$ 67.87068M
Market Cap$ 533.26942M
Low/High 24h$ 2.18 - $ 2.36
Change (24h)-$ 0.095743
As the crypto market slowly comes out of the long recession, new projects keep emerging in the crypto space. One of them is ZetaChain. With its built-in capacity to interface with all current blockchains – from mainnet layers like Ethereum to non-smart contract chains like Bitcoin and Dogecoin – ZetaChain is a Layer-1 blockchain and smart contract platform. ZetaChain can handle assets, data, and liquidity across different networks using this omni-chain capacity, even if those networks don't have built-in smart contract functionality. Let’s take a closer look at Zeta Chain crypto and the project’s characteristics.
ZetaChain is a flexible blockchain platform that is unique in that it can function and communicate with other Web3 blockchain networks. By providing a single, safe platform for developers and users to interact with the whole crypto ecosystem, its strategy tackles the fragmented and compartmentalized character of the present crypto landscape.
ZetaChain's omni-chain smart contracts are the core of its invention. With their cross-chain interoperability, these contracts offer a centralized, seamless, and safe access to the whole cryptocurrency ecosystem. ZetaChain's smart contracts can coordinate data and finances across multiple networks, including Ethereum, Bitcoin, Cosmos, Tron, and others, making the process easier for both developers and consumers.
The ZETA token that powers ZetaChain is used for a number of purposes, including paying transaction fees, engaging in governance, and safeguarding the PoS network. ZetaHub, a comprehensive platform that allows users to interact with the blockchain and ecosystem, is a supplement to ZetaChain. In addition, the ZetaChain ecosystem features a strong community, a number of collaborations, and an ongoing funding program for developers of omnichain dApps.
As a project, ZetaChain has a number of features:
The native cryptocurrency token of ZetaChain, ZETA, is used to fund cross-chain transactions, gas fees, and block rewards. It's also used to supply liquidity and reward liquidity providers (LPs) in the platform's main crypto pools. ZETA also functions as a governance token. Voting on significant network and policy changes impacting the protocol and its Layer-1 chain is available to ZETA holders.
The 2.1 billion tokens that were intended to be issued initially have already been produced. Of this, 31.5 million ZETA are allocated to the Genesis airdrop, which honors individuals who contributed to and used ZetaLabs prior to the mainnet launch of the platform. After a snapshot was obtained on August 20, 2023, over 800,000 participants were considered qualified.
ZETA's overall supply will stay set at 2.1 billion for the first four years. There will be a 2.5% annual supply inflation after that. The amount of ZETA that is in circulation at any given time will determine how much inflation will affect tokens.
The ZetaChain project was started in 2021 by Ankur Nandwani, a former member of the Coinbase team and the man behind the Basic Attention Token (BAT) cryptocurrency. In 2022, the platform initiated testnet operations.
The investor community showed a great deal of interest in ZetaChain's novel idea of omnichain smart contracts shortly after, and in 2023 the project raised $27 million in venture capital funding. ZetaChain started its mainnet on February 1st, 2024.
ZETA is used to pay transaction or gas fees on the ZetaChain blockchain. This includes transactions on ZetaChain's EVM (Ethereum Virtual Machine) as well as cross-chain transactions. ZETA transaction fees help defend the network from spam and DDoS attacks.
Zetachain's future development plans include a core roadmap that focuses on additional chain connections, creative interactions with Bitcoin, and the maintenance of open-source libraries. The platform intends to broaden the scope of crypto applications across all blockchains, particularly in areas such as omni-chain DeFi primitives, Bitcoin collateralization, native token staking, and social/gaming/identity apps. Some experts believe that ZETA coin will develop and gain traction as time goes by. For instance, CoinEdition believes that by 2030, ZETA crypto can skyrocket to $57, while at its low it can cost at least $42.
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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.