Galxe Upgrades Gravity EVM (Grevm 1.0) and Announces $50 Million Ecosystem Fund – CryptoNinjas

Key Takeaways:

• Revolutionary Performance Upgrade: Grevm 1.0 significantly enhances scalability and performance by leveraging Rust’s programming advantages and parallel architecture.
• Strategic Ecosystem Investment: A $50 million fund aims to boost developer engagement and attract high-quality projects to Gravity.
• Decentralized Vision and Challenges: While Gravity promises seamless multi-chain integration, overcoming intense competition and ensuring security remain critical challenges.

Introducing Galxe and Gravity: An All-in-One Web3 Tool

Galxe is the world-leading Web3 identity and rewards platform that has always struck the community with its unimaginable non-stop innovation and expansion. Focusing on the creation of user-centric experiences, Galxe goes all out to effectively reward participation in blockchain projects through missions and events, using a relevant system of rewards. Success is drawn from effectively linking the users with the projects, resulting in a dynamic ecosystem of continuous growth.

Galxe

However, this rapid growth has introduced challenges in terms of scalability and performance-related issues. In order to respond to increased demands by its users and ensure seamless operations, Galxe developed Gravity—a Layer-1 blockchain designed to solve these issues.

Launched in August 2024, Gravity is not just another blockchain; instead, it is an overall solution to the scalability and cross-chain interaction problems of Web3. Built on Arbitrum Nitro, Gravity inherits most of the advantages in speed and performance that Arbitrum has. That said, it embeds many advanced features. First of all, Gravity is EVM-compatible, which allows developers to seamlessly port existing Ethereum smart contracts to Gravity.

GREVM 1.0: A Performance and Scalability Game Changer

The most high-profile announcement Galxe has made in recent times is the upgrade of Gravity’s EVM to Grevm 1.0. This is no routine upgrade but a game-changing technological leap that promises substantial gains in performance and scalability.

Grevm 1.0 is an open-source parallel EVM, implemented based on “revm,” which is an EVM implemented in the Rust programming language. Its choice brings many advantages:

• High performance: Rust is said to have a very great speed for processing and hence is performance-optimal.
• Strong security: The strong memory management of Rust reduces errors in memory, hence offering improved security.
• Scalability: Rust supports parallel programming and, therefore,…