ZetaChain in 2023: Ecosystem Update

Since its inception in 2021, ZetaChain has been making waves in the Decentralized Finance (DeFi) landscape, particularly as it gears up for its mainnet launch. 

As a Layer One blockchain, ZetaChain offers a range of capabilities, from omnichain smart contracts to seamless messaging between any blockchains. 

The platform aims to solve the challenges of "cross-chain" and "multi-chain" interactions and seeks to democratize the global financial and crypto ecosystem. This article takes a closer look at the notable developments in ZetaChain’s journey in 2023.

Crossing 1,000,000 Users on ZetaChain Testnet

On March 8, ZetaChain celebrated a milestone—reaching over 1,000,000 active users on its testnet, spanning across more than 100 countries. 

Not just that, the platform clocked in more than 6.3 million cross-chain transactions and saw over 200 Decentralized Applications (dApps) deployed on its testnet.

Partnership with Ankr To Accelerate Access To Web 3 Infrastructure

In April, ZetaChain joined forces with Ankr Protocol, a prominent web3 infrastructure provider, and the first ZetaChain RPC (Remote Procedure Call) partner. 

According to ZetaChain's blog, this alliance is crucial for dApp developers who are keen to build high-throughput, scalable, and secure applications. 

“This partnership is valuable for ZetaChain dApp developers looking to integrate capabilities for high-throughput, scalable, and secure apps,” the blog read. “With Ankr, developers get instant access to ZetaChain RPCs to make request calls and access relevant information as if they were running ZetaChain full nodes themselves.”

Ankr allows these developers to easily access ZetaChain's functionalities, making development quicker and more efficient.

Funding and Whitepaper Launch

Also in April, ZetaChain launched its Whitepaper and announced a $5 million grant aimed at supporting Omnichain dApp builders, providing them with the resources they need to create cutting-edge dApps. 

Partnership with BYTE City to Power First Multiverse

ZetaChain took another significant step on July 19 by partnering with BYTE CITY, a social entertainment platform. This collaboration aims to bring cross-chain functionality to the first truly open metaverse. 

BYTE CITY is a platform where brands can engage with communities, offering a blend of digital Non-Fungible Token (NFT) collectibles and crypto functionalities in a social and gaming environment.

Partnership with Ultiverse to Power Omnichain GameFi

In an exciting collaboration, ZetaChain partnered with web3 MetaFi gaming platform Ultiverse. The aim is to develop a range of social gaming experiences that work across various blockchains, as stated in the official announcement. 

“ZetaChain is excited to partner with web3 MetaFi gaming platform Ultiverse to power cross-chain functionality across its expanding portfolio of immersive social gaming experiences,” the announcement read. 

Ultiverse is designing a web3-ready, VR-compatible world to host the first AAA blockchain games, making it an attractive proposition for the gaming community.

ZetaChain Raises $27 Million for Interoperable Layer-1 Blockchain

In a development reported by BSC News on August 16, ZetaChain successfully raised $27 million from several investors, including Blockchain.com, Human Capital, CMT Digital, and GSR. The funding will be used to enhance interoperability in the blockchain ecosystem.

Strengthening Security with Chainalysis and Halborn

On August 31, ZetaChain announced collaborations with Chainalysis and Halborn to bolster its security measures. Charlie McCowan, Head of Security at ZetaChain, noted that the insights from Halborn and Chainalysis would provide an added layer of security and peace of mind for the platform's operations.

“Halborn’s insights helped us improve the security of our blockchain, and Chainalysis’s response capabilities provide peace of mind for our OmniChain operations,” said Charlie. 

In summary, ZetaChain has made notable strides in 2023, from reaching user milestones and forming key partnerships to securing substantial funding. As it moves closer to its mainnet launch, ZetaChain looks set to play a pivotal role in the future of DeFi and blockchain interoperability.

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