Zetachain- Blockchain for Interoperability

ZetaChain is both a layer 1 (L1) blockchain and smart contract platform with built-in connectivity to all blockchains such as Ethereum,  Ethereum L2 rollups, Solana, Terra, and Algorand, and even nonsmart contract blockchains such as Bitcoin and Dogecoin.

ZetaChain is first of all a public blockchain with Proof-of-Stake validators. It's trusted that a supermajority (>66%nodes) of the validator nodes are honest, act according to protocol, and collectively serve as notaries.

It is a Proof-of-Stake blockchain that consists of observers and signers for external blockchains.

Observers-

The observers scan external chains for relevant events such as event logs, transactions, or states at a certain time). The observers are further divided into two roles, such as

Sequencers- They discover relevant external transactions /events/states and report to verifiers.

Verifiers verify and vote on Zetachain to reach a consensus.

Signers-

The ZetaChain collectively holds standard ECDSA/EdDSA keys for authenticated interaction with external chains. The keys are distributed among multiple signers in such a way that only a supermajority of them can sign on behalf of the ZetaChain.

EVM layer-

Zetachain network uses compatible execution layers with EVM called EVM. Its main features are  

From External chains contracts on zEVM can be called

The contracts on zEVM can generate outbound transactions from external chains.

Cross-Chain-Messaging-

The ZetaChain and zEVM serve only as a relayer of messages(cross-chain contract calls) and value(multi-chain token ZETA). The state is stored on a set of CCM-enabled contracts on different chains

Omni-chain Smart contract-

It is a programmed smart contract on zEVM which can be called from external chains. It can also manage foreign assets directly on external chains.  The current features of Omnichain contracts are

Transfer of native gas assets (ETH, BNB, MATIC, etc.) between connected chains.

Transfer of ERC-20 tokens between connected chains.

It can process up to 4000 transactions per second. And block time -5 seconds and instant finality.

ZETAUSD surged sharply after the mainnet launch. It hit a high of $2.10 and is currently trading around $1.49.

The bullish invalidation can happen if the pair closes below $1. On the lower side, the near-term support is $1.30. Any break below the target is $1. Any breach below $1 targets $0.50/$0.37.

The immediate resistance stands at around $2.20. Any breach above confirms bullish continuation. A jump to $2.50/$3  is possible.

It is good to buy on dips around $1.05 with SL around $0.70 for TP of $2.10/$2.48.