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G is the native token on Gravity and the utility token for both Gravity and the Galxe ecosystem. G powers transactions as the gas token and will soon secure the network through staking. As the primary utility token across both ecosystems, G drives governance decisions, incentivizes growth, and facilitates payments.
Gravity aims to address some of the limitations of existing blockchains by offering several key features :
Scalability and Speed: Gravity utilizes zero-knowledge proofs (ZK-proofs) to achieve faster transaction processing and verification. This allows for near-instant finality, reducing the waiting times often associated with blockchain transactions.
Cross Chain Transactions: Gravity facilitates seamless interaction between different blockchains. Users can perform transactions and verify data across various networks, promoting interoperability within the crypto ecosystem.
The full-fledged Gravity Mainnet with native staking and restaking aims to go live in the second quarter of 2025. The reason for creating Gravity, said the Galaxe team, is that the platform's user base has significantly grown over the past three years, now counting 20 million users and 100 million monthly transactions. This required a more efficient and scalable solution to manage cross-chain interactions between 34 blockchains that Galxe supports.
Gravity will be a proof-of-stake blockchain, simultaneously supporting restaking via Eigenlayer and Babylon to leverage the Ethereum network's security. The chain also gets a new native token G, with the existing token GAL's contract migration already approved by the platform's decentralized autonomous organization.
The network will use Reth as execution layer and consensus algorithm Jolteon (AptosBFT) for near-instant transaction finality and high throughput, the team said. It will also be compatible with the Ethereum Virtual Machine (EVM).
EVM Compatibility: Gravity is compatible with the Ethereum Virtual Machine (EVM), allowing existing decentralized applications (dApps) built on Ethereum to migrate easily to the Gravity platform. This fosters developer adoption and leverages the existing dApp ecosystem.
Security and User-Friendliness: Gravity prioritizes security by offering a robust architecture. Additionally, the platform strives to be user-friendly, aiming to attract both developers and users seeking a smooth blockchain experience.
What is the Utility of Gravity (G) Token?
Gravity (G) serves a dual purpose within the Gravity and Galxe ecosystems:
Gas Token: G functions as the gas token for the Gravity blockchain. Users require G to execute transactions on the network, similar to how Ethereum (ETH) is used on the Ethereum blockchain.
Governance Token: G token holders will have the ability to participate in the governance of the Gravity blockchain in the future. This could involve voting on proposals related to network upgrades, fee structures, and other critical decisions.
With its rich selection of products and services, the Galxe platform and its Gravity blockchain are among the most innovative solutions in the web3 credential management niche. The Gravity blockchain, in particular, is a bold vision for omnichain decentralized credentials management.
Brands also benefit from Galxe's stack of solutions. Both Galxe Quest, which allows businesses to deploy loyalty solutions easily, and Galxe Score, which provides excellent indicators of potential users' on-chain behavior quality, can be invaluable products for a consumer-centric web3 business.
The Galxe team has proposed a variety of innovative solutions, and all eyes are now watching to see how everything works out in the real world during the Alpha Mainnet stage of the project.
While the Galxe project has always had a multichain focus, its cross-chain capabilities were further boosted by introducing Gravity, an omnichain network that supports the Galxe Identity Protocol and its applications across different decentralized platforms. Gravity is envisioned as a settlement layer for the protocol's transactions across different blockchains. Based on the Arbitrum Nitro stack, the Gravity chain's Alpha Mainnet was launched in June 2024. The chain's final mainnet is slated for launch in 2025.
Gravity uses ZK proof technology and a proof of stake (PoS) block validation model. The platform is designed to support multiple EVM-compatible blockchains and make cross-chain transaction settlement as efficient and affordable as possible.
The success of Gravity $G will depend on several factors, including the adoption of the Gravity blockchain by developers and users, the integration of dApps and services within the ecosystem, and the overall growth of the blockchain industry. With its focus on scalability, interoperability, and user experience, Gravity has the potential to become a significant player in the blockchain landscape.
However, it still faces competition from established players and needs to prove its value proposition in the long run.
#GravityAlphaMainnet $G @Gravity @Gravity $G