Demex Daily #201: ZetaChain Enhances Cross-Chain Functionality with Gateway Upgrade

What’s Interesting Today:

ZetaChain, a Layer 1 network focused on omnichain functionality, has launched its Gateway upgrade to enhance cross-chain interoperability. This feature enables the seamless integration of dApps across different networks, including Bitcoin, EVM-compatible, and non-EVM chains. Gateway allows for the deployment of smart contracts that can interact with dApps on other networks and vice versa, simplifying the developer experience by allowing a single deployment to reach users across multiple platforms. Additionally, it supports multi-transaction and cross-chain operations with a single click. Despite the technical advances, ZetaChain-native dApps have seen limited growth, with only $3.9 million in total value locked. The upgrade is part of ZetaChain's strategy to simplify blockchain interactions through a hub-and-spoke model, contrasting with the more complex point-to-point messaging system of its previous setup.

Coinbase's Layer 2 network, Base, has seen a spike in activity due to its "Onchain Summer" campaign, which introduced points and badges. Although Base is the second largest Ethereum Layer 2 with over $7 billion locked, its transaction values remain lower than competitors. The increase in transactions was influenced by incentives like free NFTs through the Onchain Summer Pass, which also drove user counts to record highs. The campaign, aimed at increasing user engagement and potentially preparing for a native token launch, is now in its second year.