Galaxy Builds Gravity, a Layer 1 Smart Contract Platform

Galaxy Builds Gravity, a Layer 1 Smart Contract Platform

Galaxy Announces Gravity, Its Own Layer 1 Smart Contract Platform Galaxy (GAL), a leading web3 credential protocol, is developing its own Layer 1 smart contract platform called Gravity. The company's goal is to transition all of its products to the new blockchain. The initial version of Gravity, utilizing the Arbitrum Nitro tech stack, is scheduled for launch in June 2023. A more advanced version, with staking and restaking capabilities, is planned for release in Q2 2025. Migrating Products to Gravity Galaxy plans to migrate its existing products, such as its decentralized social network and its credential verification service, to Gravity. This move will enable the company to enhance the security, scalability, and efficiency of its offerings. Benefits of Gravity Galaxy believes that Gravity will provide several key benefits, including: Enhanced security and immutability through the use of blockchain technology Improved scalability to handle increasing transaction volume Reduced transaction fees compared to other Layer 1 platforms A more user-friendly experience for developers and users Conclusion Galaxy's development of Gravity is a significant step towards its goal of becoming a leading player in the web3 ecosystem. With the launch of its own Layer 1 platform, the company will gain greater control over its technology stack and be better positioned to drive innovation in the decentralized space.