ZetaChain, the only public DEX platform built for omnichain interoperability, has launched its highly anticipated network upgrade. The upgrade is expected to deliver world-class Omnichain Smart Contract and cross-chain messaging support.
In other words, developers will be empowered to build EVM-compatible smart contracts within the ZetaChain ecosystem. Meanwhile, users can manage multiple assets across blockchains in one place. The related chains, however, must be connected to the ZetaChain ecosystem.
Powered by Zetaevm (Zevm) Module and the Zrc-20 Standard
ZetaChain relies on the ZetaEVM (zEVM) module and the ZRC-20 standard to achieve the said goals. While both functions exist in the ZetaChain chain network, each plays a specific role.
The zEVM module allows for the creation and deployment of EVM-compatible Omnichain programs. The module is designed to grant developed smart contracts the ability to read, write, or manage data and liquidity from blockchains connected to the ZetaChain ecosystem.
The relatively new ZRC-20 standard allows for managing different assets from a single place (the ZetaChain network.) The function is dedicated to developers to help them develop multiple applications on a single chain. Consequently, the crypto-community can transact different tokens, including Bitcoin, ERC-20s, and Gas Assets, without wrapping.
Why the Testnet Upgrade?
ZetaChain was built to support omnichain functionalities from the get-go. In other words, the platform has provided services even before the upgrade. So, what’s the relevance of such a significant system upgrade?
The upgrade is expected to deliver a better user experience through real-time transaction logic. The ZETA community will enjoy reduced slippage, attack surface, and susceptibility to race conditions or time constraints.
Reduced Gas Fees
The upgrade will simplify the overall process of transacting native assets on different blockchains. The ability to manage multiple tokens using a single contract will translate to lesser transaction costs and reduced slippage.
ZetaChain is a public L 1 blockchain headquartered in California that supports public omnichain messaging, accounts, and smart contracts. It offers various services, including multi-chain yield farming, cross-chain lending, and cross-chain PoW.