Galxe to release alpha mainnet of Layer 1 blockchain in June using Arbitrum Nitro
Web3 credentials platform Galxe plans to launch a new Layer 1 blockchain named Gravity, aimed at streamlining cross-chain interactions. The alpha mainnet, using the Arbitrum Nitro stack, is targeted to launch in June 2024 for preliminary testing. A fully operational mainnet is expected in the second quarter of 2025.
Galxe, a Web3 credentials and rewards platform, plans to introduce a new Layer 1 blockchain named Gravity.
Gravity will be designed to streamline cross-chain interactions, utilizing zero-knowledge proofs for efficient verification, according to a statement.
The blockchain will facilitate multi-chain asset management and abstract underlying complexities of cross-chain transaction settlements.
This proof-of-stake blockchain will be compatible with Ethereum Virtual Machine (EVM) and will utilize Reth as its execution layer along with the Jolteon (AptosBFT) consensus algorithm.
Gravity will be incorporated into Galxe’s existing suite of products — including Quest, Compass, Passport, and the Galxe Identity Protocol — to maximize its large user base.
The deployment of Gravity will occur in two main phases. The alpha mainnet, built with the Arbitrum Nitro stack, is scheduled to launch in June 2024 for preliminary testing. A fully operational mainnet is projected for release in the second quarter of 2025.
In 2022, Galxe raised $10 million in funding, with contributions from Multicoin Capital and Dragonfly Capital.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum undergoes "Fusaka upgrade" to further "scale and improve efficiency," strengthening on-chain settlement capabilities
Ethereum has activated the key "Fusaka" upgrade, increasing Layer-2 data capacity eightfold through PeerDAS technology. Combined with the BPO fork mechanism and the blob base price mechanism, this upgrade is expected to significantly reduce Layer-2 operating costs and ensure the network’s long-term economic sustainability.
Down 1/3 in the first minute after opening, halved in 26 minutes, "Trump concept" dumped by the market
Cryptocurrency projects related to the Trump family were once market favorites, but are now experiencing a dramatic collapse in trust.
Can the Federal Reserve win the battle to defend its independence? Powell's reappointment may be the key to victory or defeat
Bank of America believes that there is little to fear if Trump nominates a new Federal Reserve Chair, as the White House's ability to exert pressure will be significantly limited if Powell remains as a board member. In addition, a more hawkish committee would leave a Chair seeking to accommodate Trump's hopes for rate cuts with no room to maneuver.
From panic to reversal: BTC rises above $93,000 again, has a structural turning point arrived?
BTC has strongly returned to $93,000. Although there appears to be no direct positive catalyst, in reality, four macro factors are resonating simultaneously to trigger a potential structural turning point: expectations of interest rate cuts, improving liquidity, political transitions, and the loosening stance of traditional institutions.
Trending news
MoreCrypto prices
More
