ZetaChain’s native cryptocurrency, ZETA, experienced a remarkable surge in value, increasing by over 150% on February 1st, following the beta launch of its mainnet. The price later settled at $1.66, up 110% in the last 24 hours, with trading volume soaring above 500% to reach $272 million.
ZetaChain introduces a new level of interoperability within the blockchain realm. As a Layer 1 blockchain, it offers seamless integration with various chains, including EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, and others. This interoperability is pivotal for developers, enabling direct data and value transfers across different blockchains without the need for asset wrapping.
The platform’s advanced messaging system allows developers to create omnichain decentralized applications (odApps) that can access data and liquidity from multiple networks. Additionally, ZetaChain supports native smart contracts, further enhancing the development of omnichain dApps that can manage funds across networks through a single contract.
The ZETA coin is essential to ZetaChain’s ecosystem, facilitating cross-chain value movement and maintaining the network’s security. It simplifies transactions and data management, enabling users to transfer assets across various blockchains with ease.
ZetaChain’s commitment to interoperability and the introduction of the ZETA coin are significant strides towards improving cross-chain functionality and user experience in the blockchain industry. The platform’s continued development is being watched by industry experts, who are keen to assess its influence on the wider blockchain ecosystem.