ZetaChain raises $27M in equity round to enable chain-agnostic interoperability

Layer-1 web ZetaChain has secured $27 cardinal to enactment its chain-agnostic platform, according to an announcement connected Aug. 16. Participants successful the circular see Blockchain.com, Human Capital, VY Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, Krust, and different investors.

The protocol created successful 2021 is designed to supply standardized interoperability betwixt networks, allowing non-smart declaration chains to interact with the broader decentralized concern (DeFi) ecosystem. As a result, developers tin instrumentality astute contracts successful networks not moving the technology, specified arsenic Bitcoin and Dogecoin.

A astute declaration is simply a integer declaration stored connected a blockchain that is automatically executed erstwhile predetermined conditions are met. In the crypto ecosystem, however, the quality for contracts to pass betwixt blockchains has been 1 of the Achilles heels. ZetaChain aims astatine solving this contented by allowing developers to physique omnichain decentralized applications (DApps), successful which each assets and information tin beryllium accessed from a azygous platform, careless of the blockchain they were created oregon stored connected and without bridging oregon wrapping tokens.

According to ZetaChain, it has seen much than 27,000 dApp contracts deployed connected the level from a divers scope of third-party applications, including cross-chain DeFI, nonfungible tokens, Web3 individuality and gaming protocols. Over 13 cardinal transactions person been performed connected its testnet by implicit 1.7 cardinal users, the protocol claims.

The level has gathered immoderate halfway contributors successful the crypto abstraction since its inception, including Ankur Nandwani (ex-Coinbase, Brave, and 0x), Panruo Wu (early contributor to THORchain), and Brandon Truong (ex-BuzzFeed, Udacity, and Yada). Several erstwhile employees of Cosmos, Ignite, Consensys, and different blockchain projects are besides portion of the halfway team.

“Our [Ethereum Virtual Machine] EVM-compatible cross-chain astute contracts alleviate these issues by allowing decentralized app developers to physique services that are faster, much secure, and casual to use,” Nandwani noted successful a statement.

Magazine: Blockchain games aren’t truly decentralized… but that’s astir to change