Galactica Network: Bringing Reputation On-chain

Galactica Network is an upcoming Layer 1 that aims to bring an individual’s reputation on-chain. It leverages what is termed Persistent Identities (PIs), analogous to one’s public key (or set of public keys), and is associated with the history of on-chain actions the owner of the PI has taken, otherwise known as the “Web 3 footprint” of the individual. The diagram below illustrates the concept of a PI:

Essentially, the series of all these actions can be encapsulated digitally in the form of a certificate (or attestation) that a validity proof can attest. As a result, historical data of a user can be provably provided to applications in exchange for certain preferential treatment. For example, a borrower who has been repaying loans on time may get better interest rates and a lower minimum collateralization ratio.