Project Galaxy: Web3 Credential Data Network

Project Galaxy is the world’s largest Web3 credential data network. It is built on an open and collaborative infrastructure that helps Web3 developers, projects leverage credential data to build better products and communities. At the same time, when credentials are used in Galaxy’s application modules, Credential Oracle Engine, and Credentials API, data stewards contribute to our Credentials Data Network while earning revenue when the data is used.

Credentials exist in our daily lives. Such as records of borrowing money from AAVE and Compound but never being liquidated. Your contribution to the liquidity pool when the protocol first launched, or your on-chain voting history are credentials. All your behavioral data in Web2 counts against your credentials, and companies like Google and Facebook run algorithms on your credentials so they can send you targeted ads.

Credentials are important, and apps can use your credentials to calculate credit scores, find target audiences, reward community contributors, and more. With the advancement of Web3 and DAOs, the behavioral data generated by new users will explode. This will provide the necessary infrastructure to help these new users establish vital digital credentials.

Credential data in today’s society is segregated in closed databases owned and licensed by applications, government organizations, and financial and credit institutions. This results in a compartmentalized landscape that is not open to the individuals who should have that data or the applications that require it. Project Galaxy aims to solve this problem using an open and collaborative network of credential data that will help Web3 developers leverage credential data to build better products and more engaging communities.

Project Galaxy aims to build an open and collaborative credential data network that all developers in Web3 can access. Provides the infrastructure for community members to manage and contribute digital credentials to Project Galaxy’s data network. Our infrastructure supports credential management through multiple data sources. For on-chain credentials, curators can provide subgraph queries or static snapshots. For off-chain credentials, Project Galaxy has integrated with data sources such as Snapshot.org, Twitter, and Github.

By contributing to Galaxy’s Credentials Data Network, curators are rewarded when credentials are used in Galaxy’s Application Module, Credential Oracle Engine, and Credentials API. Since there are users in our ecosystem consuming (paying for) data, this incentivizes more users to manage our data network.

Since its launch, more than 100 partners have launched more than 500 events on Project Galaxy. Representative case studies are as follows:

Bootstrapping the community: Hashflow uses Project Galaxy to boost transaction volume to $600 million

Custom voting system: Project Galaxy supports custom voting strategies for MVB programs

Loyalty Program: YearnFinance Introduces WoofyNFT in Project Galaxy

Growth hacking: Project Galaxy’s 2021 year-end bash

With GalaxyCredentials, Project Galaxy will be able to build a Web3DID system that not only provides users with multi-chain identities, but also lets others know more about users’ past achievements/credentials. Projects like Cyberconnect, Unipass and SaladVenture already use GalaxyCredentials in their products.

Developers or projects that want to contribute credentials to the Galaxy Data Network, or use Galaxy credentials in production/community, can currently apply for Closed Beta access.

Currently, Project Galaxy is rolling out a new feature called “Verified Spaces”, which will indicate that the space has been verified by Project Galaxy. A verified check mark means that the space is truly owned by the project’s official team, or if owned by the owner himself. Eligible partners will be able to submit an application to receive a checkmark next to their space name.

As Project Galaxy becomes increasingly permissionless, partners will be able to create spaces and events themselves, a feature that will allow users to filter and find verified partners through Project Galaxy. Project Galaxy will also track these spaces and reserve the right to revoke verified status if a partner or their activities do not align with community guidelines and values.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/project-galaxy-web3-credential-data-network/
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