ZetaChain: Exploring a new model of full-chain interoperability, achieving seamless cross-chain asset transfer

In the wave of the multi-chain era, various public chains have emerged, but the challenges of liquidity withdrawal and capital exhaustion have followed. Some public chains overly rely on cross-chain bridges to introduce assets, and when security issues arise with these cross-chain bridges, these ecosystems suffer devastating blows, sounding the alarm for the entire industry.

It is against this background that ZetaChain has emerged. As a forward-looking all-chain interoperability platform, it is dedicated to addressing the fragmentation and limitations in 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.

The core team of ZetaChain brings together senior leaders from well-known companies in the industry. These team members transform their extensive 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 the user experience.

In the development of blockchain, interoperability has always been a core issue. ZetaChain not only provides innovative solutions technically but also sets new standards in 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. The following is an in-depth interview with the ZetaChain team, revealing how this project is set to transform the decentralized ecosystem in the Web3 era.

Question: Can you introduce the core contributors of ZetaChain and how they apply their previous experience to ZetaChain?

Answer: Our core contributors have participated in multiple Web3 projects and recognized the necessity of building ZetaChain and the concept of the "only blockchain needed." Currently, developers of decentralized applications face complexity issues when building products for multiple chains, and this step is crucial for seizing opportunities in the Web3 market. They also need to consider how to ensure that products can adapt to the evolution of future technologies. ZetaChain not only addresses these issues but also simplifies the user experience. These challenges stem directly from our team's previous work experience in the crypto industry.

Question: Please provide a detailed introduction on how ZetaChain achieves universal interoperability, particularly its interoperability with traditional non-smart contract chains such as Bitcoin and Dogecoin?

Answer: ZetaChain uses a multi-party computation system, where each signature validator holds a part 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 regular external account, it does not need to execute smart contract logic on the connected chain, enabling interoperability even for chains like Bitcoin that do not support smart contracts.

The 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 receiver.

Question: Can you provide examples of how Omnichain technology enhances cross-chain use cases and asset transfers, and how this technology facilitates the deployment and operation of DApps on ZetaChain?

Answer: 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 lies in its simpler architecture, as it does not require the deployment and management of a large number 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.

Question: ZetaChain has introduced the ZetaEVM module to allow the creation and deployment of EVM-compatible Omnichain smart contracts. What are the differences in performance and security between these smart contracts and those on other platforms?

Answer: 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 cross-chain functionality, the ZetaChain team developed custom Cosmos SDK modules, EVM contracts, and an off-chain observer named zetaclient, which collectively enhance the cross-chain capabilities of regular EVM contracts.

Question: How does ZetaChain achieve multi-chain functionality without using cross-chain bridges or wrapped tokens, and what are the differences and advantages of this design compared to other projects?

Answer: 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 approach makes the entire process more secure, as once the cross-chain transfer is completed, users no longer rely on ZetaChain (or anyone else) to return the assets to the original chain.

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

Question: ZetaChain is built on the Cosmos SDK and Tendermint Consensus. How do these technology choices contribute to achieving fast block times and instant finality, and what are the differences compared to the technologies used by other blockchain platforms?

Answer: ZetaChain adopts 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 modular nature of the Cosmos SDK allows ZetaChain's protocol team to develop modules that implement cross-chain messaging and support for omnichain contracts with fungible tokens.

Question: As of November 30, ZetaChain's testnet has over 1.34 million independent addresses, nearly 40,000 contracts deployed, and over 31.77 million transactions initiated. What strategies has ZetaChain employed to attract users and developers?

Answer: We believe that for developers looking to build Web3 applications and services, choosing which chain to launch products on is very difficult, and the process of expanding to other chains is equally challenging. Our vision is to create a single chain that can access all other chains, which has resonated within the global developer community. We actively build relationships with developers by participating in various events, organizing hackathons, and publishing development documentation to assist them in building applications. We have cultivated close relationships with developers, in which we proactively seek their feedback and suggestions. In addition, we have established an ecosystem grant program to support promising developers in making Omnichain-related innovations on ZetaChain.

Question: In the future ecological planning of ZetaChain, are there any key project directions that are being focused on? For example, in the fields of DeFi, NFT, or gaming? Will there be a dedicated fund established to support the development of ecological projects?

Answer: Our initial focus was on DeFi projects, as we observed a strong demand from users and developers in this area. Although we are currently in a bear market, the DeFi sector continues to maintain strong development momentum, so it makes sense that there is a robust demand for multi-chain expansion and growth. However, we also collaborate extensively with developers and DApps across various industries, including gaming, NFTs, social finance, and payments.

Question: How does ZetaChain view the acceptance and contribution of the Asian community towards its platform? Are there any special strategies for the Asian community?

Answer: Asia remains the core area of Web3. We are proud of the community established in Asia and their enthusiasm for ZetaChain. We collaborate with local ambassadors and communities, and regularly participate in key events to ensure we stay connected and responsive to the needs of developers and local communities.

Question: When is the mainnet of ZetaChain expected to launch? Will there be an airdrop? If so, what conditions will determine the airdrop list?

A: We cannot provide specific information about the launch date of the mainnet at this time. However, please follow and subscribe to our social media accounts to ensure you stay updated with our latest news and announcements.