Galxe to release alpha mainnet of Layer 1 blockchain in June using Arbitrum Nitro
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.
