Original | Odaily Planet Daily (@OdailyChina)
The Rise of the SVM Ecosystem and a New Paradigm of Cross-Chain Interoperability
Solana Leads the Bull Market, SVM Track Gains Attention
In this bull market, Solana has entered its "golden age" thanks to spontaneous growth within its ecosystem, with the rise of SVM (Solana Virtual Machine) being a key factor. Compared to the advantages of EVM in compatibility, SVM leverages Solana's robust performance, focusing on high-frequency scenarios to achieve faster transaction speeds and lower gas fees.
At the beginning of this year, the SVM track continued to heat up, and the landscape quietly evolved. SonicSVM started with a FDV of 2 billion, quickly listing on Upbit and shocking the market; SOON disruptively allocated 51% of its tokens to the community, requiring even VCs to subscribe through NFTs, sparking a wave of imitation; Eclipse ignited a nationwide "cattle raising" craze, with blue-chip ASC surging ahead; Solana's leading staking protocol Solayer also kept pace, launching the SVM public chain InfiniSVM, intensifying competition in this fierce track.
Thanks to Solana's continuous strengthening of its advantages in the competition with Ethereum, the SVM track is increasingly favored by high-performance decentralized applications, becoming the main battleground for a new round of innovation.
Limitations of a Single Ecosystem, Cross-Chain Interoperability Has Become a Necessity
As Vitalik Buterin said, "Interoperability is the future." Although the Solana ecosystem remains hot, the rise of the SVM track has optimized user experience, but a single ecosystem always has limitations, and cross-chain interoperability has become an industry necessity. Recently, the BNB Chain ecosystem has rapidly heated up under CZ's promotion, attracting a large number of Solana ecosystem users, further highlighting the "data island" problem between chains. Therefore, ZetaChain, which supports MoveVM, SVM, EVM, and Bitcoin ecosystems, enabling seamless connections between different chains, has caught the attention of Odaily Planet Daily.
Previously, the success of Sonic, SOON, and Movement has validated the urgent demand for high performance and scalability, making the SVM and MoveVM virtual machine tracks the focus of discussion in the current crypto industry. In this context, ZetaChain has higher potential, with a FDV exceeding 5 billion dollars at launch, showing strong performance despite being unlocked for a long time, and is more competitive compared to projects like Altlayer and Manta Network that launched on Binance around the same time. Additionally, ZetaChain officially launched on Binance Alpha yesterday and entered Binance's second round of voting for listing (click here for voting link), further increasing market attention.
In the future, as the heat of ecosystems may shift towards non-smart contract chains, achieving seamless flow of data and assets will become a "hard power." ZetaChain may stand out through a more simplified and universal approach, becoming a leader among many interoperable L1 projects.
Advantages Profile: Why ZetaChain is Favored by Top Web2 Companies?
Overview: Simplifying Blockchain Application Development by Abstracting the Concept of "Chain"
Image Source: ZetaChain Official Website
ZetaChain is a decentralized smart contract platform (Layer 1) that allows users to send information and transfer crypto assets across different blockchains (including Bitcoin, Move, and other heterogeneous chains) such as Solana and BNB Chain, solving the problems of "cross-chain" and "multi-chain" without any intermediaries or extra steps. ZetaChain's mission is to build a platform that achieves global access, simplicity, and practicality on any blockchain. ZetaChain differs from most current Layer 1 projects in that its goals are more ambitious. Layer 1 projects typically focus on enhancing the underlying capacity, while ZetaChain focuses on how to connect these evolving underlying capacities, preventing them from becoming isolated islands.
It is worth mentioning that despite the pessimistic voices in social media throughout the second half of 2023 claiming that "the crypto winter will last a long time," the ZetaChain team continues to work tirelessly to advance product development. At the same time, they announced the completion of a $27 million equity financing, receiving investments from several mainstream institutions, demonstrating strong market confidence and expectations for its product prospects.
Many Top Global Companies Become ZetaChain Validators
Now, Coinbase has joined the ZetaChain ecosystem (click here for validator address). On one hand, the ZetaChain mainnet is now available in the Coinbase iOS and Android apps, allowing users to interact with universal applications on Base without switching networks. On the other hand, Coinbase now supports ZetaChain, enabling users to stake ZETA through Coinbase validator nodes and earn rewards.
Web2 giant Google Cloud has also joined the ZetaChain ecosystem (click here for validator address). Google Cloud has officially joined ZetaChain as a validator for both the mainnet and testnet. Richard Widmann, head of Google Cloud's Web3 strategy, stated, “We are committed to providing developers with the necessary tools and infrastructure to support the future development of BTC in decentralized applications. Google Cloud's secure cloud infrastructure and validator node capabilities will drive the growth of ZetaChain's universal blockchain and provide interoperability for Web3 developers.” Additionally, ZetaChain will utilize Google Cloud's Protocol Accelerator toolkit to make it easier for developers to deploy and manage ZetaChain validator nodes, simplifying setup, key management, and security.
Furthermore, Alibaba Cloud has joined the ZetaChain ecosystem (click here for validator address). Through Alibaba's Spark Web3 program, ZetaChain developers can access cloud credits, fundraising support, and technical guidance, as well as participation from Alibaba Cloud validators. Alibaba Cloud's mature high-performance cloud infrastructure will enhance the security and scalability of the ZetaChain network, providing developers with a more stable and efficient building environment, allowing Universal Apps to truly operate seamlessly across chains.
Deutsche Telekom's subsidiary Telekom MMS has joined the ZetaChain ecosystem (click here for validator address). Telekom MMS provides validator support for ZetaChain through its proprietary infrastructure Open Telekom Cloud (OTC). Eugenio Carlon, head of Deutsche Telekom MMS's network security department, stated, “ZetaChain's mission to achieve seamless cross-chain connectivity aligns closely with Deutsche Telekom's vision of enhancing the security and accessibility of decentralized technology through robust infrastructure. Through Open Telekom Cloud, we hope to strengthen ZetaChain's platform, providing greater digital trust and reliability for its growth.”
Saudi Telecom's subsidiary stc Bahrain has joined the ZetaChain ecosystem (click here for validator address). Through this collaboration, stc Bahrain will act as a validator to ensure the security of the ZetaChain Universal Blockchain while accelerating the development of Universal Apps and blockchain interoperability in the Middle East. Saad Odeh, Chief Wholesale Officer of stc Bahrain, stated, “This collaboration with ZetaChain represents an important step towards achieving secure access to fully interoperable Web3 applications. ZetaChain's universal blockchain simplifies the Web3 user experience across all chains, including Bitcoin, and aligns with our commitment to advancing blockchain technology in the region.”
From the largest cryptocurrency exchange in the United States, Coinbase, to top cloud service providers like Google Cloud and Alibaba Cloud, as well as Fortune 500 telecom companies such as Deutsche Telekom's Telekom MMS and Saudi Telecom's stc Bahrain, the addition of these heavyweight partners not only enhances the decentralization and enterprise-level infrastructure scale of ZetaChain but also further expands the application scenarios of its L1 platform, accelerating the landing of universal cross-chain applications.
The Significance of Enterprise-Level Cooperation
The significance of enterprise-level cooperation is not only reflected in current technical support and ecosystem expansion but also in its high alignment with future compliance, security, and institutional demands. As regulatory scrutiny of the blockchain industry gradually intensifies worldwide, ZetaChain's enterprise-level partnerships provide strong support for navigating these changes. Collaborating with global leaders like Google Cloud and Alibaba Cloud not only ensures the high performance and security of the ZetaChain platform but also enables it to meet increasingly stringent compliance requirements. This cooperation helps ZetaChain establish a capability to counter compliance risks globally, providing a more robust guarantee for its future development.
As more traditional enterprises enter the Web3 space, compliance and security have become critical issues that cannot be ignored, especially with the involvement of financial and governmental institutions. In this context, ZetaChain, through strategic partnerships with top cloud service providers and telecom giants, has not only enhanced the platform's performance but also strengthened its alignment with compliance requirements. Its technical architecture is evolving towards greater regulatory compliance, ensuring that the platform remains compliant, transparent, and secure in a constantly changing regulatory environment.
Moreover, these enterprise-level partners provide critical infrastructure such as cloud computing, data storage, and communication networks, laying a solid foundation for the long-term development of the ZetaChain ecosystem. For instance, the high-performance cloud computing support provided by Google Cloud and Alibaba Cloud ensures that ZetaChain possesses strong scalability and stability; Deutsche Telekom and Saudi Telecom leverage their global communication network resources to enhance ZetaChain's availability and security worldwide. With the technological advantages of these world-class companies, ZetaChain can not only expand its ecosystem more robustly but also provide developers and users with a more efficient and reliable cross-chain application environment.
Overview of the ZetaChain Ecosystem: Initial Scale, Promising Future
Chain Integration Roadmap
ZetaChain builds a universal and straightforward way to connect the three major mainstream chains: the (most secure, censorship-resistant) BTC chain, the (most liquid) Ethereum chain, and the (fastest and widely used) Solana chain, covering non-smart contract chains, EVM chains, and non-EVM chains like SVM.
ZetaChain has made significant progress in expanding its "all-encompassing connection" ecosystem. Currently, the ZetaChain cross-chain ecosystem covers EVM chains such as Ethereum, BNB Chain, Polygon, and Base; the non-EVM chain Solana; and the non-smart contract chain BTC. According to the latest official roadmap, chains like Arbitrum, TON, and SUI will also be launched on ZetaChain soon.
ZetaChain Chain Integration Roadmap
So, aside from ZetaChain itself, which projects in its ecosystem are worth our attention? Next, Odaily Planet Daily will help you sort out its core DApps.
Core DApps
DeFi Sector:
Amana (@Amana_DeFi) is a DeFi yield aggregator that allocates assets among high-yield protocols through ZetaChain's full-chain architecture. Users can earn points by depositing ≥50 USDT/USDC;
Beam (@beam_dex) is a DEX native to ZetaChain, soon to launch on Arbitrum, TON, SUI, and other chains;
SubstanceX (@SubstanceX_) is a decentralized perpetual contract platform that uses a self-developed "monotonic queue liquidation system" to optimize efficiency.
AI Sector:
- Pitch Lucy (@PitchLucyAI) is an experimental AI game aimed at creating the world's first collaborative investment hedge fund, where investment suggestions are submitted by users and accepted by an AI agent named Lucy. Users submit token purchase suggestions to Lucy, who decides to accept or reject them based on system prompts and other external variables.
Meme Sector:
- Zearn (@Zearn_Protocol) is an AI-driven Memecoin launch platform. Utilizing AI capabilities, Zearn lowers the entry barrier and provides innovative features, from 24/7 AI live streaming to fully automated DeFi agents, allowing anyone to create and issue Memecoins and deeply engage with their community.
GameFi Sector:
- Upcade (@upcade_xyz) is a Web3 gaming hub, including Pepenade Crush associated with the ZetaChain points program.
Wallet Sector:
- Dust.fun (@UNDRcrypto) is a wallet tool that converts small assets into a single token.
"Though small, it has all the essentials." While the ZetaChain ecosystem is still in its early stages, it already covers various sectors recognized by mainstream Web3, including the currently popular Meme and AI Agent, making it worthwhile for users to seek potential Alpha opportunities within.
The Culminator of the Interoperability Track, Huge Future Potential
ZetaChain's Technical Advantages and Ecological Layout May Become the Liquidity Hub of Web3
ZetaChain is gradually becoming the core hub of cross-chain interoperability in the Web3 world through its unique technical advantages and deep ecological layout. With its full-chain interoperability, ZetaChain not only connects major blockchain networks but also enables assets and data to flow seamlessly between different chains, providing developers and users with a more efficient cross-chain experience.
Additionally, ZetaChain demonstrates unique advantages in supporting efficient, low-latency cross-chain transactions, making it an important infrastructure in the fields of DeFi, NFTs, and other Web3 applications. Through innovative consensus mechanisms and cross-chain communication protocols, ZetaChain achieves efficient, secure, and low-cost asset transfers and data interactions, solving the interoperability issues present in traditional blockchains and paving the way for the future Web3 ecosystem.
Overall, as a forward-looking universal interoperable Layer 1, ZetaChain is not just a technological innovation; it is also committed to driving the blockchain industry towards a more open, interoperable, and secure direction, providing global users and developers with an efficient and reliable cross-chain solution.
Web2 Enterprises Accelerate Entry into Web3, ZetaChain May Be Key
In the Web3 era, cross-chain interoperability is a core element driving industry development. ZetaChain's mission is to build a universal blockchain that can natively access any blockchain, allowing digital assets to flow seamlessly and diversify like the internet. This innovative concept not only attracts a large number of Web3 developers but also gains favor from many top Web2 enterprises, including Coinbase, Google Cloud, Alibaba Cloud, Deutsche Telekom's Telekom MMS, and Saudi Telecom's stc Bahrain, all of whom have joined the ZetaChain ecosystem as validators to jointly promote the development of blockchain infrastructure.
ZetaChain's Layer 1 structure provides a highly decentralized, enterprise-level infrastructure for Universal App development, helping Web2 businesses smoothly transition to the Web3 ecosystem. With ZetaChain, seamless interaction of multi-chain assets and applications can be achieved without cross-chain bridging, significantly lowering the technical barriers for Web2 enterprises to enter Web3 while ensuring efficient and secure on-chain operations. This advantage makes ZetaChain a crucial cornerstone for Web2 enterprises to establish themselves in the Web3 era.
As the demand for cross-chain solutions grows and more Web2 enterprises transition to Web3, ZetaChain's value will continue to manifest. Its universally recognized blockchain technology among top Web2 enterprises not only provides enterprise-level Web3 solutions but also opens a fast track for Web2 enterprises towards a decentralized future.
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