ZetaChain reveals successful $27M funding round completion

ZetaChain proudly announced an impressive achievement on Wednesday, successfully securing a substantial $27 million through a recent funding round. Noteworthy participants in this round included Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, GSR, and several other prominent entities, as detailed in an illuminating blog post.

With this significant infusion of capital, ZetaChain is poised to make substantial strides in the development of an Ethereum Virtual Machine-compatible layer-1 blockchain. To simplify, the Ethereum Virtual Machine (EVM) serves as the dynamic environment in which smart contracts are executed within the Ethereum blockchain.

From its inception, ZetaChain has meticulously collaborated with a global cohort of 150 contributors to cultivate an exceptional developer experience, one that extends beyond the confines of Web3. This unwavering commitment remains resolute, as articulated by a dedicated ZetaChain contributor in conversation with Blockworks.

Notably, ZetaChain’s innovation extends to the unification of assets and data accessibility via a singular platform, irrespective of the underlying blockchain. This visionary approach encompasses even the Bitcoin network and Dogecoin, notwithstanding their non-smart contract nature.

Remarkably, ZetaChain’s groundbreaking omnichain smart contract layer, compatible with the Ethereum Virtual Machine, empowers developers to seamlessly integrate Bitcoin smart contracts. This revolutionary advancement unshackles a previously untapped cohort of Bitcoin users, affording them the opportunity to leverage their holdings within the expansive DeFi ecosystem. These transformative strides were unveiled in a blog post that accompanied the fundraising announcement.

The proof of ZetaChain’s prowess is further reinforced by the remarkable statistics showcased in the aforementioned post. Notably, the testnet has drawn in an impressive 1.7 million users, who have collectively executed over 13 million transactions. Furthermore, the ZetaChain ecosystem boasts a staggering compilation of over 47,000 dapp contracts. This diverse array encompasses cross-chain DeFi, NFTs, universal Web3 social, identity, and gaming protocols.

The crux of ZetaChain’s innovation lies in its capability to empower end users to craft applications and services with a streamlined, efficient, and user-friendly approach. This translates to reduced procedural intricacies, minimized fees, heightened resistance to race conditions, and an overall superior user experience that is both prompt and accessible.


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