Galxe to Launch Native Layer-1 Blockchain Gravity in June

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As an experienced blockchain analyst, I am excited about the upcoming launch of Gravity, the native blockchain of Web3 digital identity and rewards platform Galxe. This is a significant step for Galxe as it aims to enhance operational capabilities and user experience by migrating all its business offerings to this new blockchain.

As a crypto investor, I’m excited to share that Web3 digital identity and rewards platform Gala is preparing to launch its native blockchain, Gravity, in June. This is an important milestone for the platform as it marks the beginning of the migration process for all its business offerings onto Gravity. By making this transition, Gala aims to boost its operational capabilities and deliver a superior user experience.

As a crypto investor, I’m excited about the upcoming launch of Gravity by Gala. When this happens, I understand that Gala will make some significant shifts to their key services. Specifically, Galxe Passport, Score, Quest, Compass, and Alva will be migrated over to the new blockchain. This transition will ensure these services continue to operate seamlessly while taking advantage of the advanced features offered by Gravity.

Approximately one million users of Galxe Passport are set to transition from the BNB Smart Chain to Gravity. Likewise, the Galxe Score contract is planned to be relocated from the Polygon (MATIC) network to the new blockchain.

Testnet and Mainnet Launch Plans

In his latest update, Galixe disclosed that the rollout of the protocol will occur in stages. The preliminary phase, which is referred to as the testnet, is planned for implementation next month. The mainnet, on the other hand, is anticipated to go live around the closing days of the second quarter in 2025.

In the beginning, Gravity’s design aims to streamline inter-chain communications through zero-knowledge proofs, ensuring swift and secure confirmation of transactions. Furthermore, this platform will enable the administration of multi-asset chains, simplifying the intricacies associated with cross-chain settlement processes.

On the Mainnet, Galxe intends to introduce functionality for staking and restaking through the protocol, thereby expanding its potential abilities.

As a researcher studying the technical aspects of blockchain systems, I can explain that instead of using the Proof-of-Work (PoW) consensus mechanism, which requires significant computational power, our blockchain will employ the Proof-of-Stake (PoS) mechanism. This means that validators are chosen to create new blocks based on their stake or ownership in the network. Furthermore, we provide staking opportunities through EigenLayer and Babylon for users looking to earn rewards and contribute to the Ethereum network’s security.

As a researcher investigating the Gravity blockchain platform, I can share that similar to other blockchains, Gravity will introduce a native token named G for facilitating transactions and activities within the network. Previously, the decentralized autonomous organization (DAO) of this platform has sanctioned the migration of its existing token, GAL, to the new token, ensuring a smooth transition for its community members.

Addressing Scalability and Efficiency

I, Galxe, have announced that the blockchain will utilize Reth for its execution layer and Jolteon (AptosBFT) as its consensus algorithm. This configuration is expected to deliver near-instant transaction finality and impressive throughput.

Gravity, which is compatible with Ethereum Virtual Machine (EVM), will be an additional feature for Web3. This means that Gravity can easily connect with existing Ethereum applications without any complications. The announcement was made by Web3 in light of their expanding user base, now numbering 20 million, and the necessity to effectively manage interactions across the 34 blockchains they serve. To accommodate this growth, a more efficient and scalable solution was required.

As a researcher studying the blockchain ecosystem, I can share that according to Galxe, they process approximately 100 million transactions monthly. To cater to this growing demand and intricacy, the team at Galxe is developing Gravity. This infrastructure aims to enhance the user experience by effectively managing the increased workload, ensuring a more dependable and seamless interaction for users.

When the network is launched, it is projected that it can handle approximately 60 million transactions per month.

According to Galxe, the estimation places Gravity’s transaction volume at over 60 million monthly, which is double that of Ethereum. This makes Gravity one of the busiest blockchains in terms of user activity.

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2024-05-30 11:46