ZetaChain Simplified
ZetaChain launched a tour across the globe to increase its influence in the Web3 space. First, on the Asian continent, Singapore, and then on the African continent, Nigeria.
The Nigerian Meetup event highlights included Blockchain Fundamentals: Use Cases and Opportunities, Understanding Web3: Collaboration and Contributions, and the Nigerian contributor of the ZetaChain Meetup discussed the current and future of blockchain interoperability.
ZetaChain has a message of interoperability. ZetaChain is the foundational layer to a multichain future. These applications can manage and connect data and value across all smart contract platforms as well as non-smart contract platforms like Bitcoin and Dogecoin. One can leverage the products ZetaChain provides on the blockchain system, as individuals are constantly dashing around to work on projects. Both legal and fraudulent projects have been implemented within the blockchain ecosystem, and it’s crucial to comprehend how the blockchain functions and its applications.
The Blockchain ecosystem is still evolving, and one can only appreciate it if they understand how and why it exists. One of the primary challenges has been the transparency of the financial system. A group of people made the decision to create an environment where they could access their assets and do away with middlemen. This led to the creation of its first blockchain, called the Bitcoin blockchain, by Satoshi Nakamoto. There will be flaws, just like in any ecosystem, and people will undoubtedly seek to improve on the offerings of their rivals.
The Bitcoin blockchain has flaws, thus the Ethereum Foundation joined forces. The evolution gave rise to blockchains like Avalanche, Cosmos, Solana, Binance, Algorand, etc. These blockchains are still developing their distinctive connections with one another. Some systems require the use of additional software (a bridge), especially if you want to convert a token or currency. Most of the time, users need to leave their website to execute these transactions, and they almost always lose money in the process. Consider a blockchain solution that addresses these issues. Consider having access to a piece of software that links you to other blockchain projects. ZetaChain functions to encourage interoperability. You can learn more about ZetaChain’s services by reading the whitepaper. The ZetaChain software allows interaction with all blockchain projects.
The Nigerian Meetup contributor used an illustration that would stuck in the minds of the audience to explain what ZetaChain offers, its application and opportunities. He used an automated teller machine (ATM) as an example, as well as the challenge of converting a token or coin using a software (bridge).
Suppose you could access all of your financial accounts with a single ATM card. You wouldn’t need numerous ATM cards for commercial banks-only one card that enables you to access all of them. Additionally, the product “Modem” is another illustration. Through the use of modems, the Subscriber Identity Module (SIM) cards can access the Internet. However, many cards could be inserted by various users using a single modem. Phones are the same. For the installation of SIM cards, most phone models have numerous slots. And yes, it still has good functionality. One could change it to execute any work of its choosing, as well as order SIM 1 to solely browse the Internet, make calls, or send messages. The tasks of each of these SIM cards are now carried out by a single device that houses all of them.
All of these are to explain what ZetaChain is and its functionality. ZetaChain provides an unparalleled combination of security, simplicity, and flexibility for developers to build omnichain dApps and users to experience them, easily and safely. The novel blockchain enables multichain functionality without using bridges or wrapped tokens and the easy deployment of omnichain-dApps, or odApps.
You can become a contributor and Earn ZETA Points for testing on their testnet check out the testnet procedure and track your ZetaChain testing contributions. For more enquiries, join the Discord channel to speak with any team member. Check ZetaChain on Twitter for the latest updates and the next meetup announcement.
Originally published at https://enofrank.hashnode.dev.
