It is no secret that the DeFi ecosystem has been plagued with outages and reliability concerns recently. This has had an impact on traders and projects, including Zebec Protocol, inventor of the concept of payment streaming, a tax-compliant system of real-time payments.
It is, therefore, evident that the existing financial rails for Web3 are in need of redundancies so as to be able to guarantee reliability and operational stability, especially as we head into a future driven by decentralized technologies. To this point, if today's Web3 systems aren't more reliable than yesterday's Web2 platforms, they can't/ won't be able to replace any of today's trad-fi (traditional finance) systems.
Enter Zebec Chain - Zebec Protocol's very own app chain
Since its market debut in March 2022, Zebec Protocol has quickly transformed into one of the largest business-facing protocols in the crypto sector, recording solid profits during a prolonged bear market that has permeated the industry since Q4 last year. Moreover, owing to the fact that Zebec comes replete with features such as mutli-sig vaults and token distribution functionality, it has been able to accrue several business partners in just six months.
Now, Zebec Protocol is laying the foundation for the future of the Web3 payment market by introducing Zebec Chain, a holistic payment chain platform capable of verifying the user's payment information, authorizing transactions, transferring funds between accounts, updating account balances, etc. It will make use of Eclipse technology, offering users high-powered, modular rollups which do not possess their own Byzantine fault-tolerant consensus. This helps eliminate several transactional bottlenecks affecting the market today, allowing Eclipse to achieve extremely high execution speeds, much more than what's possible with a standalone layer-1 blockchain.
Lastly, due to the fact that Eclipse will be rolled out within the Cosmos network as a sovereign setup, it can help in the utilization of several unique functional pathways within Cosmos, such as payment streaming, trading of real-world assets (RWAs), real-time messaging, among other things.
Why Zebec Chain?
Since Zebec Chain is a modular, zk-rollup chain designed to be a complete payment chain solution. It will be capable of processing up to 700,000+ transactions per second without any network outages or drops in processing efficiency. Owing to its modular chain setup, it will allow different dApps to deploy their own rollups, balancing decentralization versus data throughput depending on the user's needs and requirements.
Alternatively, Zebec Chain can be described as a universal layer-2 chain, providing users with a holistic interoperable zk-rollup scaling solution designed to be compatible with a host of crypto ecosystems. Thanks to its modular framework, outages on one chain do not result in any issues with the platform's overall performance. Lastly, by providing users with an L-2 solution, Zebec Chain will be able to mitigate a myriad of issues related to scalability, interoperability, and even privacy using a single system.
Feature-wise, Zebec Chain stands to offer several advantages that many L-1 solutions currently do not offer. For example, the Zebec Protocol supports in excess of 250+ businesses alongside 60+ peripheral partners while also being in the process of adding its associates to the BNB Chain. What this means is that straight out of the gate, Zebec Chain will come loaded with numerous dApps, including DeFi/GameFi projects, NFTs, payment solutions, etc.
Furthermore, it should be pointed out that Zebec's partnerships aren't restricted to the Web3 arena alone, with the project having recently entered into a partnership with payment processing giant Visa. This was done in a bid to launch a debit card that will afford owners the ability to pay for their day-to-day needs using Crypto.
Looking ahead
With the Web3 market all set to grow over the next few years - with conservative estimates suggesting that this sector is set to scale to a total valuation of US$ 877B by 2030 - it will be interesting to see how projects like Zebec continue to evolve and mature, especially as crypto payment rails continue to be adopted at a record pace.
* This is a contributed article and this content does not necessarily represent the views of techtimes.com
