Occam DAO shares interest in promising new L1 blockchain, Galactica Network
15 December 2022 — As part of Occam DAO’s zero-knowledge project, it is set to join forces with the Galactica Network.
Occam is a leading DeFi-first, DAO-governed incubator and launch pad on Cardano, Algorand, Near and a number of other layer-1 and layer-2 networks. The interest in ZK stems from the disadvantages currently seen in decentralized finance, such as the lack of capital efficiency due to the prevalence of Sybil attacks – in such cases, lenders simply cannot trust an anonymous account with anything other than massive over-security, such as addresses are too easy to manipulate and duplicate. Especially after the FTX crash, there is still a compelling need to deliver compliance within modern Web3, without compromising user privacy.
Galactica Network aims to solve the aforementioned problems plaguing space via reputation-enhanced DeFi solutions and zero-knowledge encryption. More specifically, the Galactica Network has the concept of reputation (a critical societal primitive) modeled on-chain through its zk-based technology stack, enabling true meritocracy, the foundation of decentralized society and the future of Web3.
With the Galactica Network, one has not only an unidentifiable address, but an entire persistent identity that becomes increasingly complex the more actions one undertakes within their “Cypher State”.
“While it is still very early days, we are in talks with the Galactica Network team and look forward to seeing what they develop. We see a lot of promise in ZK technology and how the Galactica Network plans to use the technology in particular, and are excited to share this project’s existence with the Occam DAO community so that we can all follow its progress, says Michael, Occam DAO’s core contributor.
To further encourage community interest, synergy and integration, Occam DAO has created a Gleam contest where users can participate by learning more about Galactica Network’s technology. All participants will have a chance to be rewarded for their correct answers and discover more about the new blockchain.
About the Galactica Network
About Occam DAO
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