The arrival of DeFi’s first omnichain platform may mean the days of tiresome chain hopping have finally come to an end [Ad]
DeFi is supposed to be the great recalibrator of finance. It is supposed to offer people a better alternative to traditional centralized financial tools and services. Recently, we've all seen how centralized services can result in catastrophic losses for users due to lack of transparency.
However, as it stands now, using DeFi protocols can be extremely time-consuming, confusing and ineffective. Many of the problems in the space can be traced to the way it has developed. There are now a multitude of networks that each have their own ecosystems and platforms with which they integrated. While this has led to innovation with individual networks vying for space in a crowded market, it has also stilted growth and made things hard for the end user.
can manage assets from anywhere as opposed to only assets on a single chain. So you can effectively have Bitcoin smart contracts or smart contracts that manage many different assets on different networks at once.Users will have fewer hoops to jump through to use crypto, wherever and whenever. With omnichain, we’ll be able to build applications that abstract networks for many use cases such as using any wallet and interacting with any application anywhere.
Of course, developers have the power to create anything they want on ZetaChain: new protocols/platforms, new businesses, and new public goods. The ZetaChain team is very close to the community and takes a lot of input in building and planning new features. The team also provides resources like technical help to developers and partners to build better and faster.With anything ZetaChain launches, we aim to have real, usable products for users to play with, learn about, and engage with.
If DeFi is going to deliver on its promise, then truly decentralized solutions need to rival centralized ones in terms of UX and opportunities while also minimizing risk with strongbaseline security. ZetaChain’s working to deliver a good future-proof default for multichain so that more builders can create these experiences for more users.Cointelegraph does not endorse any content or product on this page.
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