Galxe Protocol redefines the way credentials are provided and confirmed in the Web3 world by putting forth a state-of-the-art system that provides their community total control over their identity and private data.
What do credentials mean? Credentials are a part of daily existence. These can take the shape of a key, a license, a certificate, a deed, and more as evidence of eligibility. Your involvement in a Galxe Campaign, your past on-chain voting activity, and your contribution to a protocol’s liquidity pool are examples of credentials of onchain actions. These credentials serve as a collection of your accomplishments and worth in addition to serving as a symbol of your own onchain identity.
Additionally, all of your current Web2 usage information may also be credentials. Businesses that use your credentials to run algorithms are Google and Meta, for example, so they can deliver you relevant ads. The issue is that you don’t control how these data are used, shared, or utilized for your personal gain. Instead, you don’t own them.
A permissionless, self-governing identification infrastructure is called Galxe Protocol. You will be able to safely and privately own, control, and exchange verifiable credentials thanks to Zero-Knowledge Proof. Additionally, Galxe Protocol offers a wide range of opportunities for developers to create decentralized review systems, reputation systems, credit systems, Sybil avoidance algorithms, personal data markets, and more.
What makes this important to you?
First and foremost, everything that you own becomes an asset, including your avatar, gaming achievements, social media followers, and more. Since you actually OWN your data, you have the power to determine the what, when, and how. To demonstrate that your home is yours, a notary public is not required. It won’t be necessary for you to provide your entire bank statement in order to demonstrate your financial situation. While it may seem a bit futuristic, this is the near future—a society in which artificial intelligence composes your emails and drives you to destinations.
Part I: How It Operates Technically
All of this sounds fantastic, but how does it function in practice?
The goal of Galxe Protocol is to enhance what Galxe already provides while breaking up its functionality into distinct yet connected parts. The Credential Holder, Issuer, Verifier, and Credential Type Designer are the four main responsibilities in the Galxe Protocol. Projects can use a range of Credential Types that Galxe designs and makes available within the current Galxe platform. After verification, campaign owners give the credentials to qualified participants, who then become the Credential Holders.
The fundamental components of the Galxe Protocol are a set of onchain smart contracts and SDK tools that let developers create and utilize those contracts for offchain credential issuance or authentication. The credential type and the context are the two components that make up a credential schema. For instance, the type is boolean (yes or no), and the context is if you are older than 21.
Galxe Protocol’s decentralized and unrestricted structure consists of chain-agnostic components that support all functions and contribute to the system’s sustainability.
- Holders may reveal the necessary data only in certain cases for verification while maintaining a deterministic pseudonym.
- Revocable credentials can be generated and managed on-chain by issuers.
- Verifiers can use the protocol for a variety of off-chain and on-chain applications that require access control by utilizing the integrated identity nullifiers and specifying a programmable trust schema.
Galxe Protocol’s Vision: Decentralizing Roles
The goal of the Galxe Protocol is to dismantle the tasks that Galxe now fills so that different independent entities might take on any or all of these responsibilities. A more dynamic ecosystem that expands the Galxe experience beyond the basic Galxe platform is made possible by this decentralization.
For instance, outside parties are welcome to create their own set of credentials. Third parties can design and propose additional credential kinds, rather than relying exclusively on Galxe to introduce them. For example, an external organization can build a “Threads” credential type if there is a need for one. Once these new credential types are designed, Galxe, or any other platform, can choose to support and integrate them. This strategy mimics the adaptability of our present subgraph configuration.
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