Web3 identity and rewards platform Galxe has announced a new Ethereum Virtual Machine (EVM) upgrade to its Gravity blockchain and launched a $50 million fund. The fund aims to boost the development of its recently launched Gravity network, an EVM-compatible Layer 1 network designed to help developers launch new user-centric applications and even affiliated blockchains.
Galxe also provided an additional $5 million developer grant for the network. The eco-fund is backed by venture investments including Dragonfly Capital, HashKey Capital, DAO5, and Lattice. In addition to the eco-fund, Yumin Xia, Galxe's CTO, also announced the launch of Grevm 1.0, an open-source parallel EVM built on "revm," an EVM written in the Rust programming language and designed to be simpler and more efficient than traditional EVMs.
Galxe Launches Gravity EVM Upgrade and Establishes $50 million Ecological Fund
2024-12-10 06:20:50
Web3 identity authentication rewards platform galxe announce gravitydesk3cryptocurrencydesktopCrypto News
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