What is Galxe? This is the complete explanation!

Bittime - Galxe Identity Protocol delivers a revolutionary identity system in Web3, enabling complete control over personal data and credentials. With Zero-Knowledge Proof (ZKP) technology, Galxe ensures secure and anonymous verification, redefining the way credentials are issued and participating in the crypto ecosystem.

What is Galxe?

Galxe Identity Protocol proposes a new system that will give our community total control over their personal data and identity. This will redefine the way credentials are verified and issued in the Web3 world.

Kredential or able to live in everyday life. This is proof of legitimacy which can be a key, certificate, deed, license, and so on. Your onchain activity may include on-chain voting history, participation in the Galxe Campaign, and contributions to the protocol's liquidity pool. These characteristics not only accumulate value and achievements, but also show who you are, a unique on-chain identity.

How Does Galxe Work?

The goal of the Galxe Identity Protocol is to improve currently available services and break down functionality into interdependent components. Credential Holder, Issuer, Verifier, and Credential Type Designer are the four main roles in the Galxe Identity Protocol. 

Different types of capabilities can be designed and provided by Galxe, the current platform. The campaign owner then verifies and provides credentials to eligible participants.

Essentially, the Galxe Identity Protocol consists of several smart contracts that can be deployed onchain as well as an SDK tool, which allows developers to create and use those contracts to issue or verify credentials offchain.

What Does Galxe's Identity Protocol Vision Look Like?

One of the goals of the Galxe Identity Protocol is to break up the roles currently held by Galxe, allowing multiple independent entities to assume one or more of those roles. This will enable a more dynamic ecosystem that delivers the Galxe experience beyond the core Galxe platform.

Third parties, for example, are required to design their own credentials. Third parties can help design and propose new credentials rather than relying solely on Galxe. 

For example, an external entity can create a "Threads'' credential type upon request. Once the design is complete, Galxe or other platforms may choose to support and integrate this new type of credential. This method demonstrates the flexibility demonstrated by our current subgraph setup.

What is Galxe's Zero-Knowledge Proof (ZKP) Like?

This is the reason we believe in and choose ZKP as the cryptographic method for the Galxe Identity Protocol.

Selective Disclosure

Imagine a gamer wants to join a gaming guild on a platform integrated with Galxe. Guilds require their members to reach certain ranks in other games. With ZKP, users can prove their achievements without revealing their entire gameplay history or other irrelevant statistics. This ensures credential privacy.

Proof with Anonymity

A user wants to participate in a special event on the platform, but the event requires participants to have a certain reputation score. With ZKP, participants can prove that they exceed reputation thresholds without revealing their identity or the specific aspects that contributed to the score. Additionally, verifiers can use nullifiers in proofs to prevent double spending. This addresses the challenge of verifying data anonymously.

Efficiency and Security

As Galxe integrates with more platforms and supports more types of credentials, verification requests could skyrocket. ZKP, especially zk-SNARK, ensures the verification process is fast and smooth, even with exponential demand growth. 

Conclusion

With the aim of providing full control over users' personal data and identity in the Web3 ecosystem, Galxe Identity Protocol offers the concept of credentials for various purposes, such as on-chain transaction verification, participation in campaigns, and protocol liquidity contributions. Galxe's Zero-Knowledge Proof (ZKP) technology allows users to prove their claims without sacrificing privacy, efficiency, security and anonymity during the verification process. Galxe's vision is to create a decentralized and dynamic ecosystem where organizations can work together to create and develop new credentials outside of the core Galxe platform.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.