- Galxe, a Web3 entity has launched its own Layer-1 protocol dubbed Gravity.
- Powered as a Proof-of-Stake (PoS) protocol, Gravity is slated for June launch.
Galxe, a Web3 infrastructure and digital credential network has unveiled Gravity as its own layer-1 smart contract platform in collaboration with Arbitrum. Gravity is designed to deliver a more secure, scalable, and efficient mechanism for managing complex cross-chain interactions for users and developers.
Gravity Leverages Arbitrium for Improved Cross-chain Interactions
According to the announcement, Gravity leverages Arbitrum Orbit to bring a flawless questing experience to Galxe users. Galxe said it hopes to transfer all its products to the new layer 1 blockchain.
Galxe is taking its full product suite onchain with @GravityChain!
Gravity Chain is leveraging Arbitrum Orbit to bring a seamless questing experience to over 20 million @Galxe users.
Welcome to the Orbit ecosystem! pic.twitter.com/k0eI0trgBW
— Arbitrum (💙,🧡) (@arbitrum) May 29, 2024
The initial launch, built on Arbitrum Nitro’s technology stack, is scheduled for June. This initial version will focus on testing cross-chain settlements with complete transparency. However, the final Gravity mainnet, featuring native staking and restaking functionalities, is expected to go live in the second quarter of 2025.
The Galxe team added that the creation of Gravity was prompted by increased growth in its user base. Within the last three years, users on the platform grew to 20 million, with 100 million recorded monthly transactions. As a result, Gravity emerges as the answer, designed to handle cross-chain interactions seamlessly across the 34 blockchains Galxe currently supports.
The platform utilizes Proof-of-Stake (PoS) for consensus while simultaneously integrating restaking through EigenLayer and Babylon to harness the security of the Ethereum network.
Additionally, Gravity employs Reth as its execution layer and the Jolteon (AptosBFT) consensus algorithm, promising near-instantaneous transaction finality and high throughput. This innovative architecture ensures a smooth user experience without compromising security or transaction speed.
A new native token, G, will power the Gravity ecosystem. The existing GAL token will also be integrated, with its contract migration already approved by Galxe’s Decentralized Autonomous Organization (DAO).
Furthermore, Gravity boasts compatibility with the Ethereum Virtual Machine (EVM), ensuring smooth integration with existing Web3 applications. Overall, the platform is designed with the user in mind, aiming to deliver exceptional performance, robust security, and cost-effective transactions.
Gravity Integrates With Existing Products
At launch, Gravity will be integrated with Galxe’s existing suite of products, including Quest, Compass, Passport, Score, Alva, and Identity Protocol. This integration is projected to propel Gravity to become one of the most active blockchains globally, with an estimated 60 million transactions per month, exceeding even Ethereum’s current volume.
This integration presents an opportunity for projects to tap into Galxe’s massive user base, facilitating user acquisition and retention. The migration process will involve moving Galxe Passport, currently boasting nearly 1 million users, from BNB Chain (BNB) to Gravity. As previously reported by Crypto News Flash, Galxe Passport V2 is the next evolution in Web3 identity management.
Similarly, the Galxe Score contract will transition from Polygon (MATIC) to the new blockchain. Meanwhile, Galxe has also collaborated with Mantle Network to improve developers’ experience, according to earlier reports from Crypto News Flash.
Credit: Source link
