Crypto:
30351
Bitcoin:
$64.094
% 0.26
BTC Dominance:
%54.1
% 0.13
Market Cap:
$2.34 T
% 0.00
Fear & Greed:
53 / 100
Bitcoin:
$ 64.094
BTC Dominance:
% 54.1
Market Cap:
$2.34 T

Galxe to Launch Gravity: A New Layer 1 Blockchain for Simplified Cross-Chain Interactions

Galxe, Gravity

Galxe, a Web3 credentials and rewards platform, intends to launch a new Layer 1 blockchain called Gravity.

Gravity Blockchain and Its Features

Gravity, according to a statement, will simplify cross-chain interactions using zero-knowledge proofs for efficient verification.

The blockchain will enable the abstract underlying complexity of cross-chain transaction settlements as well as multi-chain asset management.

Along with the Jolteon (AptosBFT) consensus algorithm, this proof-of-stake blockchain will be compatible with the Ethereum Virtual Machine (EVM) and run Reth as its execution layer.

To optimize Galxe’s huge user base, Gravity will be included in its current range of products, including Quest, Compass, Passport, and the Galxe Identity Protocol.

This Might Interest You: Analyzing EigenLayer’s Post-EIGEN Airdrop Daily Flows

Galxe will deploy Gravity in two primary stages. Designed with the Arbitrum Nitro stack, the alpha mainnet is set to be tested preliminarily in June 2024. A fully operational mainnet is projected to be delivered in the second quarter of 2025.

In 2022, Galxe raised $10 million from Multicoin Capital and Dragonfly Capital.

Rate this post
READ:  Standard Chartered Unveils Price Target for Ethereum as ETF Approval Looms!

Leave a Reply

Your email address will not be published. Required fields are marked *