) said Wednesday that it is crafting its own layer-1 smart contract platform called Gravity and will migrate all its products to the new blockchain.
The first version of the network, built on the Arbitrum Nitro tech stack, will start in June to test cross-chain settlements in a publicly transparent manner. 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.
The network will use Reth as execution layer and consensus algorithm Jolteon for near-instant transaction finality and high throughput, the team said. It will also be compatible with the Ethereum Virtual Machine .in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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