- Galxe (GAL) has introduced its proprietary layer-1 smart contract called Gravity, marking a significant shift in its blockchain infrastructure.
- This development will see all of Galxe’s products migrate to the new blockchain system.
- “The migration to Gravity is driven by explosive user growth and the need for a scalable solution,” said a representative from Galxe.
Galxe’s Gravity: A New Era in Web3 Infrastructure and Digital Identities
Why Was Gravity Developed?
Galxe’s decision to develop Gravity stems from the need to accommodate its rapidly growing user base and the increasing complexity of its platform. The initial version, hosted on Arbitrum Nitro, will publicly test cross-chain agreements in June 2023. Full operations of Gravity Mainnet, including native staking and restaking, are expected to commence in Q2 2025. Galxe’s team highlighted that the current user base has reached 20 million, with 100 million monthly transactions, necessitating a more scalable and efficient solution for cross-chain interactions across 34 blockchains.
Technical Advancements and Security
Gravity will operate as a proof-of-stake blockchain, leveraging restaking through EigenLayer and Babylon to utilize Ethereum’s network security. The new blockchain promises near-instant transaction finality using Reth and high throughput with the Jolteon (AptosBFT) consensus algorithm. Additionally, Gravity will be Ethereum Virtual Machine (EVM) compatible, ensuring seamless integration with existing Ethereum-based applications.
Key User Transitions
As part of the transition to Gravity, the Galxe Passport, currently used by approximately 1 million users, will move from BNB Chain (BNB) to the new blockchain. Similarly, the Galxe Score contract will migrate from Polygon (MATIC) to Gravity. These transitions are expected to enhance efficiency and provide a more seamless user experience.
Concrete User Benefits
User Benefits and Impacts:
- Enhanced transaction speed due to near-instant finality.
- Higher security leveraging Ethereum’s network.
- Improved scalability for managing cross-chain interactions.
- Seamless migration of key services like Galxe Passport and Galxe Score.
These advancements are poised to significantly improve user experience and operational efficiency.
In parallel, the Bitcoin market showed notable activity. BTC rebounded from $67,200 to $67,800, stabilizing the market cap at $1.33 trillion. However, a drop in 24-hour trading volume to $26 billion suggests a possible waning interest.
Conclusion
The introduction of Gravity marks a pivotal moment for Galxe, promising enhanced scalability, security, and efficiency. As the platform transitions to this new blockchain, users can expect a more robust and seamless experience. The broader implications for the Web3 infrastructure and digital identities are profound, setting a new standard for blockchain technology.
