With more than 1,000,000 users on testnet, it’s safe to say ZetaChain strikes a chord in the market’s desperate need for interoperability. Given both the nascency of web3 and novelty of ZetaChain blockchain (even among crypto-natives), we decided to tap our wise, dedicated community members and challenge them to explain ZetaChain using an analogy. In this post, we highlight the 10 winning submissions!
At ZetaChain, we’re building the first public L1 blockchain with built-in interoperability. That is, an open chain capable of supporting omnichain smart contracts, which can access and manage assets and data on any other chain from a single point of logic. For a more in-depth technical overview and solution comparison, please refer to ZetaChain’s Unique Approach to Interoperability. Before jumping into the winning analogies section, let’s review some buzz words you’ll likely run into in the space of blockchain interoperability:
Vacations are fun, but planning them involves many moving parts such as choosing lodging and other accommodations. This is why some prefer to use the services of a travel agency (the role of ZetaChain in this scenario).
Why? Well if you’re driving yourself, first, you need to figure out the best route from hundreds of cross-country bridges. Secondly, you can’t move without fuel so you’ll need to use funds to fill your car with gas. Each refueling of the car is like refueling your wallet directly for the exchange of tokens where the price is subject to the current price of Gwei (gas). During your travels, remember to book hotel stays and rest up as no one can drive all night long (equivalent to stopping to move liquidity from one service bridge to another in crypto). Overall, get comfortable with the unknowns. Cars break down and you may need to take detours so understand the total time-to-destination (transaction settlement) is hard to predict.
On the other hand, flying first class with the ZETA agency is much simpler and less risky. ZETA immediately provides a description of the tour, exact price, duration and conditions. You don't have to worry about the road trip (i.e. crypto transfer) because you already know in advance how you will get to the destination. Fuel, car insurance, restaurant accommodations, other services, Etc. Everything in the tour is included when you pay the ZETA commission, which by the way, you get back should something go wrong during your journey (built-in revert function). When traveling with the ZETA agency, you’ll always see the duration of your trip on the Swap counter. With over 1,000,000 customers across Twitter and Discord, ZETA agency is a reliable and high in demand service. Trust they will help you get to where you want to go fast, affordably, and safely!
This piece was adapted based on ZetaChain community member @BDNKTORRETO & @Hrmkingnuel’s submissions.
The Zeta Virtual Machine is like a magic shaker for making cocktails (omnichain dApps). For example, let’s say you’re in a virtual bar, and you find something appealing on Ethereum (let it be a wonderful juniper gin). And then something catches your eye on Binance Smart Chain (something like sweet vermouth). You can enjoy both drinks separately, but unfortunately not mixed together because each has its own characteristics.
Well, you could use a cross-chain bridge solution. It would be like having a straw inserted into two glasses in front of you — one with gin and one with vermouth. The method is limited, asynchronous, and risky. To involve other chains or tokens in your concoction such as Campari further complicates things.
Enter the magic Zeta Virtual Machine shaker, which has some special powers:
You can exchange any ingredient from any bar and receive any other ingredient. For example, pour gin into the tumbler, give it a good shake, and eventually vermouth will pour out of it. This is how omnichain smart contracts work: In this case, it burns X tokens (gin) on network A, converts to the ZETA token through a one-way peg, and then mints X tokens (vermouth) on network B. Unlike the more common two-way peg, there is no “wrapping” and no additional representation of the true underlying asset.
Guaranteed best price on your ingredients and no wasting! Our bartenders (node operators in ZetaChain who validate, sign, and observe transactions and events on all external networks) scrupulously monitor the proportions of your cocktail. This means lower slippage, volatility, and stronger transaction guarantees when drinking cocktails that involve many ingredients (multichain interactions).
