According to The Block, Web3 identity and rewards platform Galxe announced that it will launch its "Identity Protocol" mainnet.
The protocol will leverage zero-knowledge proof technology to give users “autonomy over their digital identities and private data,” the company said.
Charles Wayn, Co-founder of Galxe: “Our goal is to witness a shift in the way digital identity is managed, away from centralized one-size-fits-all solutions, towards user-led forms of digital presence and how it brings value to products and platforms.”
The company said it has issued more than 200,000 credentials since its launch in 2021 and that 18 million unique wallets use its platform. Galxe also said it has made significant contributions to the growth of Arbitrum, Optimism, and Polygon.
Galxe’s strategy for launching the mainnet is to increase users’ control over their private data by giving them the power to disclose personal information as they wish when accessing different “blockchain environments.” The new move is also intended to promote a higher degree of interoperability, Galxe said in a statement.
Galxe also said in the statement that the "identity protocol" will allow people to use and maintain consistent "cross-domain anonymous identities" across different platforms.
Wayn said: “The mainnet launch of the Galxe Identity Protocol marks a critical shift. By 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 to identity verification.”
Galxe raised $10 million in funding in 2022, with participation from Multicoin Capital and Dragonfly Capital, according to a statement.