Galxe has announced plans to launch Gravity in order to meet the increased requirements of the ecosystem. Galxe is essentially a layer-1 smart contract platform that will be rolled out in a phased manner.
Galxe, a layer-1 smart contract platform, has announced the upcoming launch of Gravity in response to the increasing demands of the ecosystem. The platform's phased rollout will begin with the first iteration launching in June 2024, followed by the final version in Q2 2025. Galxe will subsequently migrate all its products to Gravity, a PoS blockchain network. As part of this initiative, a new token, denoted by "G," will also be introduced.
Gravity's significance stems from the remarkable growth in the number of users and transactions on Galxe. With over 20 million users and nearly 100 million monthly transactions, the platform aims to establish a highly scalable solution capable of efficiently processing a vast volume of transactions for millions of users. Backed by Galxe, Gravity will facilitate interaction with 34 blockchains to support these demanding requirements.
As the ecosystem continues to expand rapidly, Galxe anticipates the need for further support in the future. According to a statement from the Gravity team, the platform was conceived due to the limitations of the current infrastructure in handling the network's increasing complexity. Among the upcoming features to enhance the platform's capabilities are staking and restaking.
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