Alisa Davidson
Published: August 13, 2024 at 11:03 am Updated: August 13, 2024 at 11:03 am
Edited and fact-checked:
August 13, 2024 at 11:03 am
In Brief
ZetaChain announced that it has forged a partnership with Animoca Brands, and welcomed it as its network validator.
Layer 1 blockchain and interoperability platform ZetaChain (ZETA) announced that Animoca Brands, a company dedicated to advancing digital property rights in gaming and the open metaverse, has joined its network as a validator.
Animoca Brands focuses on advancing digital property rights and supporting decentralized projects to contribute to the development of the open metaverse. The company has been running validator nodes across multiple blockchains, fostering ecosystem growth and ensuring impartial on-chain governance.
The partnership between Animoca Brands, known for its expertise in securing blockchain networks, and ZetaChain, with its proprietary ZRC-20 token standard for Omnichain Smart Contracts, aims to create a more secure and trustless environment. This collaboration will support the development of omnichain decentralized applications (dApps) that can handle native assets and data across multiple blockchains, eliminating the need for users to switch networks.
As part of the partnership, ZetaChain will provide Animoca Brands’ portfolio companies with access to over 3.5 million wallets on the ZetaChain network. Additionally, Animoca Brands will benefit from the ZetaChain Ecosystem Growth Program, which allocates 5% of the total ZETA token supply to support the development of impactful universal applications.
ZetaChain: What Is It And How It Functions?
ZetaChain is a Layer 1 blockchain that provides cross-chain interoperability through its omnichain contracts. It employs the Cosmos SDK and Tendermint consensus mechanism, allowing developers to create tailored, scalable, and interoperable blockchains.
It has recently launched its 2.0 upgrade, featuring the Universal Ethereum Virtual Machine (EVM) and centered around its Chain Abstraction Framework (CAF). This update aims to streamline multi-chain interoperability for developers and supports various use cases for integrated liquidity and data by leveraging CAF.
The Universal EVM facilitates the development of Universal applications and supports Universal Proof-of-Stake (PoS), allowing for more efficient management of complex interactions, applications, and assets across different blockchains from a single platform.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
As we delve into the world of blockchain, partnerships like the one between ZetaChain and Animoca Brands bring us closer to a future where seamless interoperability and trustless environments rule the digital landscape. With innovative technologies and a commitment to advancing digital property rights, these pioneers pave the way for a more efficient and secure decentralized ecosystem.
If you’re hungry for more trending news articles like this, make sure to check out DeFi Daily News for the latest updates and insights from the world of decentralized finance. Stay informed, stay curious, and embrace the evolving landscape of digital finance.
