Galxe Introduces L1 Blockchain ‘Gravity’ For Omnichain Experience And Full-Chain Abstraction
In Brief
Galxe will launch Gravity, a Layer 1 omnichain smart contract platform designed to transform how users and developers interact with the Web3.
On-chain distribution platform Galxe unveiled plans to launch Gravity, a Layer 1 omnichain smart contract platform designed to transform how users and developers interact with the Web3 environment.
“Gravity represents a major advancement in our mission to decentralize the web3 ecosystem,” said Harry Zhang, Co-Founder of Galxe. “For the past three years, Galxe has consistently prioritized user experience, as evidenced by our transaction volume across over 34 supported chains, which highlights the urgent need for a solution like Gravity to simplify cross-chain interactions and provide a streamlined, user-friendly experience. Gravity’s ability to abstract these complexities is a game-changer for both developers and users,” he added.
In recent years, Galxe has experienced a surge in its user base and transaction volume, indicating a demand for improved efficiency, scalability, and security in managing complex cross-chain interactions. This prompted the development of Gravity, which aims to offer an integrated and seamless experience for both developers and users.
Gravity shows an omnichain settlement layer designed for widespread adoption and complete chain abstraction. Its strategy involves simplifying the technical intricacies of blockchain interactions by incorporating advanced technologies such as zero-knowledge proofs and consensus mechanisms. This approach aims to guarantee high performance, improved security, and cost-effectiveness.
Gravity boasts several key features, including facilitating cross-chain transactions, ensuring efficient verification processes, enhancing user experience (UX), delivering high-performance execution, employing a secure Proof-of-Stake (PoS) mechanism, and offering compatibility with the Ethereum Virtual Machine (EVM).
The deployment of Gravity will unfold in two significant stages. Initially, the Gravity Alpha Mainnet, utilizing the Arbitrum Nitro stack, is scheduled to debut in June 2024. Following this, in Q2 2025, the Gravity Mainnet will be introduced, presenting a restaking-powered PoS Layer 1 blockchain with Reth serving as its EVM execution engine.
Galxe To Integrate Gravity Into Its Product Suite, Revolutionizing Web3 Interactions
It operates as a Web3 infrastructure and digital credential network, facilitating Web3 experiences by leveraging modular AI, digital identity, and blockchain technologies. At its core lies the Galxe Identity Protocol, which represents the key element for ensuring secure and self-sovereign management of digital identities.
Recently, Galaxy unveiled Galxe Passport V2, serving as a user identity solution for Web3. It securely stores sensitive data to ensure a safe user experience while emphasizing privacy. Additionally, the platform introduced GAL Staking, allowing users to earn rewards through precision-targeted airdrops via Galxe Earn.
Upon introduction, Gravity will integrate into current array of products, including Quest, Compass, Passport, Score, Alva, and the Galxe Identity Protocol. With the capacity to handle 100 million transactions monthly, this new layer presents a streamlined approach for Web3 interactions. Developers will gain immediate access to a broad user base, enhancing their capacity to engage and retain users. Furthermore, the platform streamlines multi-chain asset management and cross-chain transaction settlements and offers user-friendly transaction procedures.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
