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Home»TRADING NEWS»Galxe launches Gravity: Layer 1 blockchain designed for omnichain experience and full chain abstraction
TRADING NEWS

Galxe launches Gravity: Layer 1 blockchain designed for omnichain experience and full chain abstraction

By Crypto FlexsMay 30, 20244 Mins Read
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Galxe launches Gravity: Layer 1 blockchain designed for omnichain experience and full chain abstraction
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San Francisco, CA, May 29, 2024, Chainwire

Galxe, web3’s largest on-chain deployment platform, today announced the launch of Gravity, a layer 1 omnichain smart contract platform designed to transform the way 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 a more efficient, scalable, and secure solution for managing complex cross-chain interactions while minimizing friction. Existing solutions were inadequate to support the complexity and scale required, which led Galxe to develop Gravity. Gravity solves these problems, providing a unified, streamlined experience for both developers and users.

Introduction to Gravity

Gravity is an omnichain payments layer built for mass adoption and full chain abstraction. This approach abstracts the technical complexity of chain interactions and integrates advanced technologies such as zero-knowledge proofs and state-of-the-art consensus mechanisms to ensure high performance, improved security, and cost-effectiveness.

Upon launch, Gravity will integrate seamlessly into Galxe’s existing product suite (Quest, Compass, Passport, Score, Alva, and Galxe Identity Protocol). Set to support 100 million transactions per month (three times that of Ethereum), Gravity provides a seamless solution for web3 interactions. This integration gives developers immediate access to a massive user base, improving their ability to attract and retain users. Gravity also simplifies multi-chain asset management, cross-chain transaction settlement, and user-friendly trading processes without exposing users to underlying complexities.

“Gravity marks an important step forward in our mission to decentralize the web3 ecosystem,” said Harry Zhang, co-founder of Galxe. “Over the past three years, Galxe has consistently prioritized user experience, as evidenced by trading volume across the 34+ chains supported. This highlights the urgent need for solutions like Gravity to simplify cross-chain interactions and provide streamlined, user-friendly services. experience. Gravity’s ability to abstract this complexity is game-changing for both developers and users.”

Main 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 transactions are economical and secure.
  • Improved UX: Introducing cryptographic primitives like the secp256r1 curve through precompiled contracts, Gravity improves user experience by supporting use cases such as cost-effective passkey authentication for account abstraction wallets.
  • High performance execution: Gravity integrates the fastest execution layer, Reth, with the state-of-the-art consensus algorithm Jolteon (AptosBFT). Together, these technologies are set to deliver high throughput and near-instantaneous finality.
  • Secure and powerful PoS mechanism: Gravity’s Proof of Stake is powered by a combination of G Token native staking and re-staking protocols, including Babylon and EigenLayer. This design encourages and unites cross-spectrum communities to collectively secure the Gravity Chain.
  • EVM Compatibility: Gravity is fully compatible with EVM, allowing developers to seamlessly deploy and interact with smart contracts.

gravity rollout

Galxe announced the launch of Gravity in two major phases. The Gravity Alpha mainnet, powered by the Arbitrum Nitro stack, is scheduled to launch in June 2024. The launch of the Alpha mainnet demonstrates Galxe’s commitment to the highest standards, testing cross-chain payments in a transparent production environment using a public ledger instead of a public ledger. Centralized backend. In Q2 2025, the Gravity mainnet will be launched with a restaking-based PoS layer 1 blockchain using Reth as the EVM execution engine. Stay tuned for further updates as the alpha mainnet launch and Gravity launch progress in June.

For more information, visit Gravity.xyz.

About Galkse

Galxe is a decentralized super app and web3’s largest on-chain distribution platform, providing a seamless web3 experience through AI, digital identity, and blockchain technology. With a powerful infrastructure and product line including Quest, Passport, Score, Compass, and Alva, Galxe provides advanced tools and autonomous digital identity management to help users easily navigate Web3.

The recent introduction of Gravity, a layer 1 blockchain designed for omnichain experiences and full chain abstraction, allows developers to leverage Galxe’s 20 million users and create new products to help onboard the world to web3.

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Ana Lezama
(email protected)

Disclaimer: This is a sponsored press release and is provided for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment, or financial advice.

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