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Cryptocurrency News Articles
its Galxe Identity Protocol.output: title: Galxe: The Web3 Super App Redefining Digital Identity and Credential Verification
Jan 16, 2025 at 10:11 pm
with its decentralized and modular approach. Through its full suite of products and upcoming Gravity Layer-1 blockchain, Galxe is positioned to continue shaping the future of Web3 infrastructure and user experiences.output: As the largest community-building platform in Web3, Galxe leads the way with its modular, AI, digital identity, and blockchain technologies, all in service of the Web3 experience. At the heart of the Galxe ecosystem is the Galxe Identity Protocol, which provides a foundational layer for secure and self-sovereign digital identity management. Together with Galxe's product suite—Galxe Quest, Galxe Passport, Galxe Score, Galxe Compass, and AIva—this protocol supports the development of the next generation of Web3 applications.
with its decentralized and modular approach. Through its full suite of products and upcoming Gravity Layer-1 blockchain, Galxe is positioned to continue shaping the future of Web3 infrastructure and user experiences.output: As the largest community-building platform in Web3, Galxe leads the way with its modular, AI, digital identity, and blockchain technologies, all in service of the Web3 experience. At the heart of the Galxe ecosystem is the Galxe Identity Protocol, which provides a foundational layer for secure and self-sovereign digital identity management. Together with Galxe's product suite—Galxe Quest, Galxe Passport, Galxe Score, Galxe Compass, and AIva—this protocol supports the development of the next generation of Web3 applications.
Dubbed the Super App in the crypto space, Galxe is known for its decentralized and modular approach to digital identity and credential verification. With a full suite of products and the upcoming Gravity Layer-1 blockchain, Galxe is set to continue shaping the future of Web3 infrastructure and user experiences.
Technology
At its core, Galxe is a Web3 infrastructure and digital credential network, empowering Web3 experiences through modular, AI, digital identity, and blockchain technologies. This modular approach enables developers to integrate and build upon Galxe's core functionalities, fostering a collaborative ecosystem within Web3.
Among Galxe's products, the Galxe Identity Protocol is a decentralized and permissionless identity infrastructure designed to empower users with complete control over their credentials and private data. By leveraging zero knowledge proofs (ZKPs), the protocol ensures that users can securely manage and verify their identities without exposing sensitive information. This infrastructure aims to redefine how credentials are issued, verified, and shared within the Web3 ecosystem.
In the realm of Web3, credentials serve as essential proof of a user's eligibility or achievements, whether it be onchain activities, contributions to a liquidity pool, voting history, or participation in campaigns. However, in traditional Web2 platforms, these credentials are controlled by centralized entities like Google and Apple. This centralized approach limits user control, as these platforms determine how the data is used and shared. The Galxe Identity Protocol addresses this by offering a self-sovereign identity (SSI) model where users own and dictate the use of their credentials.
At the heart of the Galxe Identity Protocol is a series of smart contracts and an SDK (Software Development Kit) that developers can use to issue and authenticate credentials. The system defines four primary roles:
A credential schema within the protocol requires two elements: the context and the type. For example, verifying that a user is over 21 years old (context) could use a simple yes/no (boolean) credential type.
The protocol supports chain-agnostic components, ensuring broad compatibility across multiple blockchain networks. This flexibility allows users to connect different identities and generate ZKPs without compromising privacy. Potential use cases for this protocol include:
The Galxe Identity Protocol also aims to solve the digital identity multiplicity problem, which means that users now have many different identities across each platform. The Galxe Identity Protocol tackles this challenge by allowing users to link these identities privately. For example, a user’s credentials earned on a DeFi protocol will be stored with those earned on an NFT protocol. Through ZKPs, users can consolidate their credentials and generate verifiable proofs without disclosing the connections between their accounts. This approach ensures that identity verification remains comprehensive yet privacy-preserving. Additionally, ZKPs ensure verification remains fast and scalable, even as credential types and user demand grow.
Another key aspect of the Galxe ecosystem is Gravity, an EVM-compatible Layer-1 Proof-of-Stake (PoS) blockchain that will support real-world adoption and enable an interconnected omnichain future. Built with a focus on scalability, speed, and security, Gravity will offer a throughput of 1 gigagas per second and achieve sub-second finality, making it capable of handling complex, resource-intensive applications without slowing down. By integrating Grevm (Gravity EVM) — a parallel EVM runtime based on revm — Gravity will improve smart contract execution speed and efficiency. Since the launch of Gravity’s Alpha Mainnet, the network has seen 25.2 million unique wallet addresses resulting in an average of 799,000 daily transactions. Additionally, over the past 30 days, it has facilitated 16.5 million transactions, ranking it eighth among all Validums and Optimums.
Gravity’s architecture is built on two key components: the Gravity SDK and the Gravity Reth execution layer. The Gravity SDK, derived from Aptos, uses a PBFT-family PoS consensus to optimize throughput and resource utilization. Gravity Reth operates as a pipelined execution layer based on reth, enabling parallel transaction execution, asynchronous state commitment, and efficient storage. These components are integrated via the Gravity Consensus Engine Interface (GCEI), which dynamically manages the pipeline stages based on network conditions. In this system,
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- Solana Memecoin Frenzy Slows Down as Distrust and Market Exhaustion Set In
- Feb 25, 2025 at 01:45 am
- After months of excitement, the frenzy around the launch of tokens on Solana is slowing down significantly. Pump.fun, the leading memecoin launch platform, is experiencing a marked decline in its activity and revenues. Between growing distrust and market exhaustion, the enthusiasm for these ultra-speculative tokens seems to be fading.
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- Despite XLM Price Drop, LINK, DEBO, and DOGE Show Strong Potential
- Feb 25, 2025 at 01:45 am
- Stellar (XLM) price has been in a downturn in the week, pushing several investors out of profit. The token's price action looked more concerning on the monthly chart, as it plummeted by more than 25% during that period.
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