ZETA is the primary token of the ZetaChain network, playing crucial roles within the network as follows:
1. Gas Fee
To execute transactions or use various applications on the ZetaChain network, a fee must be paid to facilitate the continuation of transactions or Smart contracts. ZETA tokens are utilized for this fee payment. In this context, ZETA acts like oil or gas, essential for powering the ZetaChain network.
2. Security
ZETA also plays a vital role in enhancing the security of the network. ZETA is rewarded to nodes that function as Validators, verifying transactions occurring on the ZetaChain network accurately. This support incentivizes Validators to operate with integrity, reinforcing and ensuring the security of the network.
3. Cross-Chain Transactions
ZETA tokens serve as a bridge connecting various blockchains within the ZetaChain ecosystem. ZETA facilitates seamless cross-chain transactions, reducing the complexity of cross-chain transactions, minimizing the risk of data leaks, and enhancing overall network security.
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