Layer-1 network ZetaChain has secured $27 million to support its chain-agnostic platform, according to an announcement on Aug. 16. Participants in the round include Blockchain.com, Human Capital, Vy Capital, Sky9 Capital, Jane Street Capital, VistaLabs, CMT Digital, Foundation Capital, Lingfeng Capital, GSR, Kudasai, Krust and other investors.
The protocol created in 2021 is designed to provide standardized interoperability between networks, allowing non-smart contract chains to interact with the broader decentralized finance (DeFi) ecosystem. As a result, developers can implement smart contracts on networks not running the technology, such as Bitcoin and Dogecoin.
A smart contract is a digital contract stored on a blockchain that is automatically executed once predetermined conditions are met. In the crypto ecosystem, however, the ability for contracts to communicate between blockchains has been an Achilles’ heel. ZetaChain aims at solving this issue by allowing developers to build omnichain decentralized applications (DApps), in which all assets and data can be accessed from a single platform, regardless of the blockchain on which they were created or stored and without bridging or wrapping tokens.
ZetaChain says it has seen more than 27,000 DApp…
