- The launch of Galxe’s “Identity Protocol” on mainnet, which aims to give users autonomy over their digital identity and private data.
- This protocol leverages zero-knowledge proofs to empower users to dictate their digital presence, marking a shift away from centralized solutions.
Web3 credentials and rewards platform Galxe has announced the launch of its “Identity Protocol” mainnet, which provides users with greater control over their digital identity and private data. By leveraging zero-knowledge proofs, the protocol empowers users to determine how their digital presence can bring value to products and platforms.
Galxe co-founder Charles Wayn highlighted the shift toward decentralized identity management, stating that the platform allows users to dictate their digital presence across various blockchain environments.
Since its launch in 2021, Galxe has issued over 200,000 credentials and engaged 18 million unique wallets, contributing to the growth of blockchain networks such as Arbitrum, Optimism, and Polygon.
With the Identity Protocol mainnet, users will be able to maintain consistent cross-domain pseudonymous identities across different platforms, fostering increased interoperability and security. Wayn emphasized the significance of this transition, noting that the protocol offers a secure, decentralized alternative for identity verification.
In 2022, Galxe raised $10 million in funding from firms such as Multicoin Capital and Dragonfly Capital. The platform’s new mainnet is a notable step forward in providing users with the ability to manage their digital identity more securely and autonomously.
Empowering Decentralized Identity
Galxe’s launch of its “Identity Protocol” mainnet marks a significant step forward in the evolution of digital identity management. By offering users greater control over their private data and enabling the use of cross-domain pseudonymous identities across multiple blockchain environments, Galxe is paving the way for a more secure, decentralized approach to identity verification.
This advancement positions Galxe as a key player in the Web3 space, fostering increased interoperability and empowering individuals to take ownership of their digital presence.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
