Galxe Announces Web3 Identity Protocol with Zero-Knowledge Proofs
In Brief
Web3 community building platform Galxe has announced the upcoming Galxe Protocol.
The protocol is a permissionless self-sovereign identity infrastructure powered by Zero-Knowledge Proof.
It gives users ownership and control over their private data and credentials while staying anonymous.
Galxe, a Web3 community-building platform, has introduced Galxe Protocol. The upcoming system is aimed at giving Galxe’s community complete control over their private data and identity, changing the way credentials are issued and verified in the Web3 world.
The Galxe Protocol functions as a permissionless self-sovereign identity infrastructure, leveraging Zero-Knowledge Proof. According to the platform, this enables users to securely and discreetly oversee, possess, and exchange verifiable credentials, all while safeguarding their anonymity.
Emphasizing the significance of credentials, Galxe stated that they validate eligibility. Credentials can manifest in diverse forms, including certificates, licenses, and deeds.
“Credentials of on-chain activities include your contribution to a protocol’s liquidity pool, your on-chain voting history, and your participation in a Galxe Campaign, etc. These credentials not only aggregate your achievements and value but also represent who you are, your unique on-chain identity,” the platform wrote in a blog post.
Galxe asserts that the new protocol will enable users to transform their identity and private data into assets. This encompasses followers on social media, users’ avatars, their achievements in games, and more.
How the Protocol Works
Galxe intends to enhance its platform by reorganizing current functionality into discrete yet interconnected components.
The Galxe Protocol introduces four primary roles: Credential Holder, Issuer, Verifier, and Credential Type Designer.
Presently, Galxe formulates and delivers various Credential Types for project incorporation. Campaign owners then validate and dispense credentials to eligible participants, who assume the role of Holders.
Through the protocol, a sequence of on-chain smart contracts can be deployed. Alongside, SDK tools facilitate developers in constructing and employing contracts for off-chain credential issuance and authentication.
This system facilitates credential generation and authentication, amplifying efficiency by introducing soul-bound tokens (SBTs). These tokens intricately link to specific data, negating the necessity for intricate coding.
Additionally, the platform highlighted the following SBT use cases:
- Enhancing Social Media Users’ Control: Users could have the option to voluntarily authenticate and disclose their identity and interests. This prevents them from being targeted with unwanted ads.
- Age Verification: Users who are 21 or older, residing in the U.S., can validate their age without revealing excessive personal information. Rather than displaying details found on a traditional ID, users can exhibit a verified credential that solely attests to their age.
Tackling Multi-Platform Identity Management
Galxe asserts that its protocol effectively tackles the challenge of managing diverse digital identities across platforms. Additionally, it maintains that the protocol empowers users to unify their personas or craft Zero-Knowledge Proofs concerning their comprehensive profile without compromising private data.
With a credential data network of over 3,000 partners, Galxe asserts it has issued 100M+ credentials to 12M+ unique users for reward-based campaigns and on-chain loyalty programs.
As the platform expands and embraces an array of credential types, it anticipates a surge in verification demand. Leveraging zk-SNARKs, a form of Zero-Knowledge Proof, Galxe aspires to uphold streamlined verification procedures, even amid escalating demand.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing.Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
More articlesCindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing.Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
