Welcome and Introduction
The session began with an enthusiastic welcome from the hosts, emphasizing the significance of this event, referred to as the "Founder Fireside." Key participants included Mike Savadaya, Galactica's CEO and founder, and Frederick, a technical expert. Both shared insights into the evolving Web3 ecosystem and Galactica's role in it.
Galactica’s Vision and Development Goals
Mike elaborated on Galactica's foundational goal: creating an operating system for "network states" that integrates decentralized identity, privacy compliance, and advanced blockchain functionality. This vision includes enabling traditional markets, such as NASDAQ trading, on weekends via blockchain and ensuring a compliant privacy setup for users.
Frederick highlighted how zero-knowledge cryptography underpins the system's ability to securely verify user data without exposing personal information. He also noted the integration of identity-based solutions to address compliance and privacy challenges.
Core Technologies: Identity Virtual Machine (IVM)
Galactica’s Identity Virtual Machine (IVM) is a cornerstone technology enabling self-custody of user data, reputation management, and decentralized verification. Mike explained how reputation decay—reducing the weight of past actions over time—encourages continuous engagement while maintaining fair governance.
Frederick detailed the innovative use of zero-knowledge proofs and fully homomorphic encryption (FHE). These technologies allow encrypted data computation, ensuring data privacy while enabling complex blockchain interactions.
Integration with Telegram and Ecosystem Expansion
Galactica’s integration with Telegram aims to create a seamless interface for managing identities and encrypted certificates. This move positions Galactica as a leader in Web3 identity solutions, leveraging Telegram’s vast user base. Efforts to synchronize data across platforms were noted as a significant milestone.
Advanced Use Cases and Future Development
The team explored contingent transactions, where smart contracts dynamically adjust based on user reputation and compliance. This approach avoids rigid whitelists, enhancing flexibility and user experience.
Frederick shared insights into scaling strategies, integration testing, and plans for opening standards to broader community participation. This includes working closely with external partners like SwissBlock and integrating tools like MetaMask Snaps.
Community Engagement and Cypher University
The session concluded with a focus on community involvement, particularly through the newly launched Cypher University. This initiative combines skill-building with opportunities to earn rewards via the Galactica ecosystem. Users are encouraged to explore subjects and quests within the platform to maximize their engagement and benefits.
Closing Thoughts
Mike and Frederick expressed gratitude for the passionate community supporting Galactica's mission. They emphasized the innovative nature of their work, setting the stage for future breakthroughs in blockchain governance, privacy, and decentralized identity solutions.
Key Announcements