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Cryptocurrency and Blockchain technology continue to develop rapidly, and Galxe’s latest announcement has garnered attention. Galxe, a leading platform in Web3 credentials and rewards, is preparing to launch a new Layer-1 Blockchain called “Gravity.” This innovative move aims to enhance cross-chain interactions in the Blockchain ecosystem and make processes more efficient. The alpha mainnet of Gravity is planned to launch in June 2024, with the fully operational mainnet expected to go live in the second quarter of 2025.
What Does the New Blockchain Aim For?
Gravity‘s most notable feature is its ability to simplify and optimize cross-chain transactions using zero-knowledge proofs. Zero-knowledge proofs ensure the accuracy of transactions while keeping transaction details confidential. This technology has been met with great interest by the Blockchain community as it enhances security and scalability. Gravity promises to provide secure and fast transaction settlements between different Blockchain networks with these features.
The new Blockchain will support multi-chain asset management and eliminate complexities related to cross-chain transaction settlements. This functionality is of great importance to users interacting with multiple Blockchain networks, offering a smoother and more user-friendly experience. Gravity will operate as an Ethereum Virtual Machine (EVM) compatible proof of stake Blockchain and will use Reth as its execution layer. Additionally, it will employ the Jolteon (AptosBFT) consensus algorithm, known for its efficiency and security.
Galxe’s Integrated Plans
Galxe plans to integrate its existing product suite, including Quest, Compass, Passport, and the Galxe Identity Protocol, into Gravity. This integration aims to maximize the impact and adoption of the new Blockchain by leveraging Galxe’s extensive user base. The strategic inclusion of these products into Gravity demonstrates Galxe‘s commitment to enhancing user experience and expanding the scope of its services.
The development of Gravity will occur in two main phases. The first phase involves the launch of the alpha mainnet using Arbitrum Nitro in June 2024. This phase is designed for preliminary testing and will provide valuable insights and feedback for further improvements. The second phase covers the deployment of a fully operational mainnet by the second quarter of 2025. This phased approach will ensure comprehensive testing and optimization, paving the way for a robust and reliable Blockchain solution.
Galxe’s ambitious plans are supported by the company’s raising of $10 million in 2022 from prominent investors such as Multicoin Capital and Dragonfly Capital. This financial support underscores the confidence in Galxe’s vision and the potential impact of the Gravity Blockchain on the broader crypto ecosystem. As Galxe continues to innovate and expand its offerings, the launch of Gravity will mark a significant milestone in the evolution of cross-chain technology and Blockchain interoperability.
