You will find below a list of technical definitions.
Introducing Galactica Network: The Future of Web3 Identity
In the dynamic internet landscape, a revolutionary platform is making waves: Galactica Network, The Ultimate Web3 Identity Stack, and SwissBorg’s official Layer 1 blockchain. Introducing more than just another digitised innovation, the Galactica Network stands as a conduit between off-chain and on-chain realms, set to change the landscape of our engagement with data in the Web 3.0 epoch.
What is Galactica Network?
Galactica Network is a Layer 1 blockchain designed to address the challenges of establishing persistent Web3 identities and ensuring users' ownership over their internet data. Beyond incorporating all the functionalities typical of a Layer 1 blockchain, Galactica introduces a suite of advanced features that empower its users to:
- Establish a unique and enduring Web3 Identity.
- Gain control over their data and the ability to monetise it.
- Combine their Web2 and Web3 data to forge a comprehensive on-chain reputation, which in turn opens the door to specific opportunities.
These innovations are enabled by Galactica's Web3 Identity Stack, laying the groundwork for a variety of new applications and setting the stage for a privacy-focused and compliant Decentralised Finance (DeFi) ecosystem. This breakthrough has the potential to seamlessly connect traditional and decentralised finance, facilitating the infusion of trillions of dollars of capital into the blockchain.
Galactica’s Genesis
Galactica.com is a project born from a vision intending to disrupt the current status quo. Entirely self-funded by its founders and private investors, Galactica’s team has been working silently for the past 2 years and has created the most advanced and robust reputation-based blockchain framework that would become the backbone of Galactica. Built on the Cosmos SDK, Galactica is an EVM-compatible Layer 1, currently in Testnet, marking the genesis of Galactica.com.
Galactica has good relationships with some of the biggest Web3 projects: SwissBorg, Occam, CoinTelegraph, Galxe, TaskOn, and more. These strategic partnerships have allowed Galactica to quickly bootstrap its user base by gaining direct access to over 20 Million users, 1.4 Million of whom are already KYCed. This means that any projects built on the Galactica Network can also access the same user base.
Galactica’s Web3 Identity Stack
The Web3 Identity stack introduces a suite of innovative primitives that enable the Galactica Network to provide unique features not available on other blockchains. These primitives serve as foundational elements for developers when constructing decentralised applications (dApps) or smart contracts.
The novel primitives facilitate the following:
- Guardians: They enable the integration of Web2 data into a user's Web3 identity. Data Guardians are the entities that ensure that these data are authenticated and verified. KYC Guardians are the ones allowing a user to create a zkKYC, which is used to prove their identity while retaining their privacy.
- zkCertificates: This offers a method for users to upload personal information onto the blockchain to certify compliance with specific criteria without exposing their identity to third parties.
- Reputation Framework: This framework supports the development of reputation systems. The reputation scores are derived from a mathematical model that can vary across different dApps, permitting the creation of tailored reputation systems based on project requirements.
- Contingent Transactions (also known as Dynamic Whitelists): This feature allows dApps to provide personalised access to users based on their data or reputation.
Exploring new use cases unlocked by Galactica’s Web3 Identity Stack
Compliant Privacy:
At the heart of Galactica Network's innovation are two cutting-edge technologies: Zero-Knowledge Cryptography and, eventually, Fully Homomorphic Encryption. Together, they provide a robust foundation for data privacy and verification, enabling users to manage their digital identities securely and privately.
Through the implementation of zkKYC (zero knowledge know your customer), users can complete the required regulatory KYC (know your customer) while maintaining sole ownership of their personal information. This is made possible through the Galactica Guardians. Check out this video to learn more about Galactica Guardians.
The zkKYC primitives enable Sybil's resistance by increasing the cost of creating fake identities and ensuring one-person-one-account correspondence without disclosing personal data. Compliant privacy opens the door for trillions of assets inflow from TradFi into Galactica Network, especially via the tokenisation of Real World Assets .
Data is the New TVL:
The Web3 Identity Stack is the ultimate use case for data in public blockchains – just like Bitcoin was for money and Ethereum for Finance. It is also known as Decentralised Societies.
DeSoc or Decentralised Societies implies blockchain native sovereign data - personal and otherwise. By treating data as a valuable commodity, a DeSoc-friendly network, like the Galactica Network, enables users to control and monetise their information. As a network user, you can upload your data and have full control over how and to whom it is available.
For example, a new DeFi protocol built on the Galactica Network wants to acquire users interested in the advancements of AR/VR technology. If you have interacted with other projects similar to the aforementioned DeFi protocol, thenthe AR/VR protocol could identify you as a new potential customer but would have to pay you to access your contact information. This means that instead of the protocol paying Meta or X (thousands of $) for targeted Ads, they pay and speak to the consumer for their attention directly.
This structure has the potential to reshape the attention economy framework and put value and monetisation back in the hands of the source (you) vs. the dealer (Big Tech companies). This approach challenges the traditional data oligopoly and paves the way for a more equitable digital economy, where users are the true beholders of their data.
Galactica’s Reputation Framework:
Data is valuable, but sovereign data—data owned and controlled by individuals—is even more valuable. Galactica introduces the Reputation Framework, a decentralised scoring system that preserves privacy and is permissionless, computationally efficient, and customisable by users.
In simple terms, it's a privacy-preserving reputation calculator open to everyone. Its potential is vast: for instance, DeFi capital efficiency could increase tenfold if individuals weren't treated uniformly. Currently, reputation, a crucial asset, isn't factored into DeFi.
Galactica allows users to access on-chain, private profiles containing information about their interests, investment success, and other activities they choose to disclose.
For instance, a DeFi user with a flawless loan repayment history and a strong investment portfolio could leverage this reputation with another lending protocol and qualify for under-collateralised or even non-collateralised loans automatically.
In summary, Galactica's Reputation Framework offers a transformative solution for data ownership, privacy, and reputation in the decentralised space, paving the way for more efficient and personalised interactions within the DeFi ecosystem.
New Governance & Cypher States:
Galactica.com powers a reputation system that opens avenues for innovation in protocol governance. Currently, voting power is typically tied to token holdings, overlooking behaviour. This flaw enables bad actors to wield significant voting power unchecked. By having a reputation-augmented voting system, a protocol can give more weight to users who demonstrate ecosystem loyalty, skills, and experience, irrespective of their AUM.
Galactica Network goes beyond by empowering individuals to build their digital realm, known as a Cypher State. It's a virtual domain where identity, economy, and governance are conducted online but governed by tangible rules.
Galactica Network is leading the charge in creating the inaugural Cypher State, offering d'Apps that are built on the Galactica Network the opportunity for their deserving users to attain citizenship. With the Galactica digital passport (Cypher Book), citizens can receive rewards regularly in $GNET tokens, marking a groundbreaking concept in the digital realm.
SwissBorg 🤝 Galactica
SwissBorg believes in Galactica's vision and the importance of its mission, so we’re making it the company's designated blockchain.
SwissBorg will be the first zkKYC Data Guardian, allowing all users to safely & privately create their zkKYC by leveraging our regulated infrastructure. This partnership has the potential to onboard close to 1M SwissBorg users onto Galactica, allowing it to bootstrap the Galactica user base and to create a bridge toward the decentralised world for all SwissBorg users.
Your opportunity to invest early in Galactica
As SwissBorg’s official blockchain, all SwissBorg users can invest in Galactica.com through our next Alpha Early Deal. The Galactica.com Alpha will take place in May, so be sure to be ready if you want to participate.
How to maximise your allocation?
- Increase your $BORG token holdings
- Increase your Premium accounts
- Join the Galactica Network community and climb the ranks of the Zealy leaderboard.
Register your interest here .
Key Terms and Definitions:
- AR/VR: Immersive technologies: Augmented Reality and Virtual Reality.
- Cypher Book: Digital passport on Galactica Network.
- Cypher State: A digital state on the Galactica Network that uses blockchain technology to create a governance system, citizenship, economy, and its own set of rules.
- DeSoc or Decentralised Social: a concept that emphasises and values non-transferable social relationships and trust, laying the foundation for a more equitable and participatory digital future
- EVM: Ethereum's runtime environment for executing smart contracts.
- Fully Homomorphic Encryption (FHE): Cryptographic method for computations on encrypted data.
- Layer 1 Blockchain: Foundational blockchain layer for consensus and data storage.
- Sybil: Attack involving the creation of multiple fake identities.
- TVL: Total value of assets locked in DeFi protocols.
- Web3 Identity Stack: Framework for decentralised identity management.
- $GNET: Ticker for Galactica Network's native token.
- zkKYC: Privacy-preserving identity verification.
- Zero-Knowledge Cryptography: Protocol for authentication without revealing sensitive information.
