Galxe Launches Gravity Blockchain for Web3 Enhancements
Highlights:
- Galxe to transition nearly one million users to its new blockchain, Gravity, in June.
- Gravity will leverage Jolteon (AptosBFT) for high-speed, high-throughput consensus.
- The network aims to process up to 60 million transactions monthly, outpacing Ethereum.
Galxe, a prominent player in the Web3 digital identity and rewards arena, has announced plans to launch its native blockchain, Gravity, this June. This strategic move will see the migration of its entire suite of services to the new blockchain, aimed at boosting operational capabilities and enhancing the overall user experience.
Welcome to the decentralized future of Galxe. @GravityChain was born from the need to reclaim and transform the Internet. It embodies the shift from control by the few to empowerment for the many. pic.twitter.com/zfnhIV1BsZ
— Galxe (@Galxe) May 29, 2024
Seamless Transition to Enhanced Performance
Scheduled for a phased launch, Gravity’s testnet is expected next month, with a Mainnet rollout by the end of the second quarter. The blockchain is designed to simplify cross-chain interactions using zero-knowledge proofs for efficient verification and support multi-chain asset management. Gravity aims to incorporate staking and restaking services to amplify its functionalities.
Transitioning to the new blockchain, Galxe Passport, which boasts nearly a million users, will shift from the BNB Smart Chain to Gravity. The Galxe Score contract will move from Polygon to Gravity, marking significant transitions in the platform’s operational framework.
Technical Foundations and Performance Goals
Employing Reth for its execution layer and Jolteon (AptosBFT) for consensus, Gravity promises near-instant transaction finality and substantial throughput. The blockchain’s compatibility with the Ethereum Virtual Machine (EVM) ensures seamless integration with existing Ethereum-based applications.
With an ambitious target of handling around 100 million monthly transactions, Gravity initially aimed to process up to 60 million monthly transactions. This capacity anticipates doubling Ethereum’s current volume, positioning Gravity among the most active chains in terms of user activity.
Galxe’s user base has experienced exponential growth, prompting the creation of Gravity. This new blockchain offers a more efficient and scalable solution to manage complex cross-chain interactions. Gravity addresses these needs effectively by supporting 34 blockchains and a growing user base of 20 million.
Gravity has revealed its upcoming partnership with Latch. As the first decentralized application to utilize Gravity’s omnichain intent protocol, Latch collaborates with the Galxe team. This partnership aims to enhance the Smart Balance feature, offering omnichain yield opportunities to its 20 million users.
🌀 x Latch https://t.co/VdVT445y6R
— Gravity (@GravityChain) May 30, 2024
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Raymond Munene
Raymond Munene is a crypto content writer who contributes to Crypto2Community. With over three years of experience, he is interested in Bitcoin, Blockchain, and Technical Analysis. Focusing on daily market analysis, his research helps traders and investors alike. His particular interest in cryptocurrency and blockchain aids his audience.
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