San Francisco, CA, May 29th, 2024, Chainwire
Galxe, web3’s largest onchain distribution platform, announced today the upcoming launch of Gravity, a Layer 1 omnichain smart contract platform designed to transform how users and developers interact with web3. Over the past three years, Galxe’s user base and transaction volume have grown exponentially, highlighting the need for more efficient, scalable, and secure solutions to manage complex cross-chain interactions with minimal friction. Existing solutions fell short in supporting the required complexity and scale, prompting Galxe to develop Gravity. Gravity addresses these challenges, offering an integrated and streamlined experience for both developers and users.
Introducing Gravity
Gravity is an omnichain settlement layer built for mass adoption and full-chain abstraction. Its approach abstracts the technical complexities of chain interactions, integrating advanced technologies like Zero-Knowledge Proofs and state-of-the-art consensus mechanisms to ensure high performance, enhanced security, and cost efficiency.
Upon launch, Gravity will be seamlessly integrated within Galxe’s existing suite of products—Quest, Compass, Passport, Score, Alva, and the Galxe Identity Protocol. Set to support 100 million transactions per month—three times that of Ethereum—Gravity offers a seamless solution for web3 interactions. This integration allows developers immediate access to a vast user base, boosting their ability to attract and retain users. Gravity also simplifies multi-chain asset management, cross-chain transaction settlements, and user-friendly transaction processes without exposing users to underlying complexities.
“Gravity represents a major advancement in our mission to decentralize the web3 ecosystem,” said Harry Zhang, Co-Founder of Galxe. “For the past three years, Galxe has consistently prioritized user experience, as evidenced by our transaction volume across over 34 supported chains, which highlights the urgent need for a solution like Gravity to simplify cross-chain interactions and provide a streamlined, user-friendly experience. Gravity’s ability to abstract these complexities is a game-changer for both developers and users.”
Key Features of Gravity
- Cross-Chain Transactions: Gravity allows developers to define and settle transactions across multiple blockchains, making interactions more efficient and secure.
- Efficient Verification: Supporting cost-effective ZKP verification, Gravity ensures that transactions are both economical and secure.
- Enhanced UX: Introducing cryptographic primitives like the secp256r1 curve through precompiled contracts, Gravity enables use cases such as cost-effective passkey authentication for Account Abstraction wallets, enhancing user experience.
- High-Performance Execution: Gravity integrates the fastest execution layer, Reth, and the state-of-the-art consensus algorithm Jolteon (AptosBFT). Together, these technologies are set to provide high throughput and near-instant finality.
- Secure and Robust PoS Mechanism: Gravity’s Proof-of-Stake will be powered by the combination of G token native staking and restaking protocols including Babylon and EigenLayer. This design incentivizes and unites a cross-spectrum community to collectively safeguard the Gravity chain.
- EVM Compatibility: Gravity will be fully EVM-compatible, allowing developers to deploy and interact with smart contracts seamlessly.
Gravity Rollout
Galxe announces the rollout of Gravity in two key phases. The Gravity Alpha Mainnet, powered by the Arbitrum Nitro stack, will go live in June 2024. The launch of the Alpha Mainnet demonstrates Galxe’s commitment to the highest standards, testing cross-chain settlement in a transparent production environment using a public ledger instead of a centralized backend. In Q2 2025, the Gravity Mainnet will launch, featuring a restaking-powered PoS Layer 1 blockchain with Reth as its EVM execution engine. Stay tuned for the Alpha Mainnet launch in June and more updates as the Gravity rollout progresses.
For more information, users can visit gravity.xyz.
About Galxe
Galxe is a decentralized super app and web3’s largest onchain distribution platform, empowering seamless web3 experiences through AI, digital identity, and blockchain technologies. Through its robust infrastructure and product suite — Quest, Passport, Score, Compass, and Alva — Galxe offers advanced tools and self-sovereign digital identity management to empower users to explore Web3 effortlessly.
The recent introduction of Gravity, a Layer-1 blockchain designed for omnichain experience and full-chain abstraction, enables developers to tap into Galxe’s 20 million users and create new products that help onboard the world to web3.
ContactAna Lezamaana@serotonin.co
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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