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Introducing Gravity: A Layer 1 Blockchain Designed for Mass Adoption and an Omnichain Future
June 23, 2024
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            Keep your eyes on this one folks! -The Dinarian 😉

 

Today, Galxe marks a giant stride forward, pushing the boundaries of the universe we know and venturing into the realm of limitless possibilities. We’re excited to announce the launch of Gravity — a Layer 1 omnichain smart contract platform designed to deliver a more efficient, scalable, and secure mechanism for managing complex cross-chain interactions with minimal friction.

With this integrated and streamlined solution, Gravity is poised to elevate interactions for users and developers within Web3 while supporting the complexity and scalability needed for mass adoption.

Gravity

Gravity is an omnichain settlement layer built for mass adoption and full-chain abstraction. At its core, Gravity is constructed with advanced technologies like Zero-Knowledge Proofs, staking-powered architecture, and state-of-the-art consensus mechanisms that provide high performance, reinforced security, and transaction cost efficiency. Through its full-chain abstraction, Gravity partitions the technical complexities from end users, prioritizing user-friendliness and a seamless journey without exposing users to the intricacies of on-chain interactions.

To meet the demands of high-throughput applications, Gravity features a cross-chain settlement protocol designed to maximize the capabilities of its high-performance and fast-finality chain. This protocol allows applications to use Gravity as the settlement layer for user intents across any chain. With leading applications like Smart Savings, this feature shifts the development paradigm from private, unauditable backends to offloading mission-critical transactions onto Gravity, functioning as an open, code-is-law database.

At launch, Gravity will be integrated within the Galxe ecosystem and our existing suite of products — QuestCompassPassportScoreAlva, and Identity Protocol. With this integration, Gravity is estimated to have over 60 million transactions per month — two times that of Ethereumestablishing it as one of the most active chains based on user activity. This integration serves as the foundational structure that allows projects to access a vast user base, enhancing their ability to attract and retain users.

Key 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-efficient ZKP verification, Gravity ensures that transactions are both economical and secure.
  • Enhanced User Experience: Introducing cryptographic primitives like the secp256r1 curve through precompiled contracts, Gravity enables use cases such as cost-effective passkey authentication for Account Abstraction wallets, enhancing user experience.
  • High-Performance Execution: Gravity integrates the fastest execution layer, Reth, and the state-of-the-art consensus algorithm Jolteon. Together, these technologies are set to provide high throughput and near-instant finality.
  • Secure and Robust PoS Mechanism: Gravity’s Proof-of-Stake will be powered by the combination of G token native staking and restaking protocols including Babylon and EigenLayer. This design incentivizes and unites a cross-spectrum community to collectively safeguard the Gravity chain.
  • EVM Compatibility: Gravity will be fully EVM-compatible, allowing developers to deploy and interact with smart contracts seamlessly.

Use Cases

With Gravity, we’re empowering projects to build a broad spectrum of solutions for Web3 users while tapping into the 20 million users within the Galxe ecosystem.

  • Balance Abstraction with Yield: With the emergence of protocols across multiple chains, Web3 users face increasing challenges in managing their assets seamlessly. Gravity addresses this challenge by consolidating balances across all chains and ensuring cross-chain transaction settlements and verification on-chain, providing a streamlined and boundless experience.
  • Intent-Based Transactions: Gravity simplifies the intricate process of navigating infrastructure-level transactions between chains. This system permits intent-based transactions, freeing users from the complexities of the underlying technical mechanics. For example, with Gravity, developers can create platforms that allow users to buy ETH on any chain with minimal slippage, without needing to worry about where or how to source the underlying liquidity.
  • Gas Abstraction: With the addition of smart contract wallet support, Gravity enhances the user experience by enabling transaction batching and gas sponsorships. This eliminates the need for users to bridge tokens between chains to complete multi-chain transactions, creating a seamless omnichain experience.
  • Omnichain Loyalty Points: The existing loyalty points system on Galxe Quest will be migrated to Gravity, shifting all loyalty points on-chain. With native features such as permission control, snapshot taking, and points trading, Gravity functions as the foundational layer for loyalty points marketplaces, powering fully on-chain quests.

Gravity Release

The launch of Gravity will occur in two phases. The Gravity Alpha Mainnet, powered by the Arbitrum Nitro stack, will go live in June 2024, followed by the Gravity Mainnet in Q2 2025. The Alpha Mainnet will demonstrate Galxe’s commitment to high standards by testing cross-chain settlements in a transparent environment. The full Mainnet will feature a restaking-powered PoS Layer 1 blockchain with Reth as its EVM execution engine.

Join Us

The universe cannot exist without gravity; it’s the cosmic glue that holds everything together. Similarly, Gravity is the foundational layer that will empower the Web3 ecosystem to grow and thrive. Join us as we venture into this exciting new phase to transform the future of the Internet.

For more information, visit gravity.xyz, and follow Gravity on X for the latest updates: @GravityChain.

About Galxe

Galxe is a decentralized super app and Web3’s largest onchain distribution platform. Through its robust infrastructure and product suite of modular AI, digital identity, and blockchain technologies — Quest, Passport, Score, Compass, and Alva — Galxe supports the development of advanced, user-friendly Web3 applications with an emphasis on secure and self-sovereign digital identity management. The recent introduction of Gravity, a layer 1 omnichain leveraging Galxe’s infrastructure, enables developers to tap into Galxe’s 20 million users and create new products that help onboard the world to Web3.

About Gravity

Gravity is a Layer-1 blockchain designed for mass adoption and an omnichain future. Its approach abstracts the technical complexities of multichain interactions, integrating advanced technologies like Zero-Knowledge Proofs, state-of-the-art consensus mechanisms, and restaking-powered architecture to ensure high performance, enhanced security, and cost efficiency. Gravity serves the 20 million users in Galxe’s ecosystem, delivering a seamless and inviting experience to Web3’s largest onchain distribution network.

The Magnet Chain for Web3

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The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
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👉 Coinbase just launched an AI agent for Crypto Trading

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

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The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

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Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

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Is it that bad?

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

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- Issuers need capital, audits, and legal disclosures

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This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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