Galxé GIRL
+5.91%
identification and rewards platform Web3, announced Thursday the launch of its “Identity Protocol” mainnet.
The protocol will give users “autonomy over their digital identity and private data” by leveraging zero-knowledge proofs, the company said.
“Our goal is to see a shift in the way digital identity is managed, moving from centralized, one-size-fits-all solutions to a world where users dictate their digital presence and how it can deliver value to products and businesses. platforms,” Galxe told co-founder Charles Wayn to The Block.
The company said it has, since its launch in 2021, issued more than 200,000 credentials and engaged 18 million unique wallets with its platform. Galxe also said it contributed substantially to the growth of Arbitrum, optimism and polygon.
Galxe’s strategy in launching the mainnet is to increase users’ control over their private data by giving them the power to disclose personal information as they see fit when accessing different “blockchain environments”, according to its statement. Galxe said the new initiative also aims to foster an increase interoperability.
The “identity protocol” will allow users to use and maintain “consistent cross-domain pseudonymous identities…across different platforms,” Galxe also said in his statement.
“The launch of the Galxe Identity Protocol mainnet marks a crucial transition,” said Wayn. “Leveraging our extensive experience with millions of Web3 users and lessons learned from industry challenges such as scalability and privacy, we are introducing a secure, decentralized alternative for identity verification.”
Galxe has raised $10 million in funding in 2022, with participation from Multicoin Capital and Dragonfly Capital, according to a release.
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