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Polygon (MATIC) up 5% as New Developer Tool Goes Live: Details

Wed, 05/03/2023 - 15:30
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Godfrey Benjamin
Polygon has launched new developer tool for its Polygon ID infrastructure
Polygon (MATIC) up 5% as New Developer Tool Goes Live: Details
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Polygon (MATIC) is seeing a mild but consistent growth leap today following its 5% upsurge today. At the time of writing, Polygon is trading at a spot price of $0.981, and by its current price outlook, it is paring off the losses accrued over the week.

Polygon has a vibrant ecosystem with a very active developer hub that has continued to achieve key milestones with respect to its development strides. In a recent update, Polygon said it has launched three exciting updates to the Polygon ID infrastructure tools to make it easier for developers to integrate a decentralized identity into dApps.

The new features in the update include, but are not limited to, the Selective Disclosure feature, the new JS SDK and the JWZ Validator, each having its own unique role. Selective Disclosure, for instance, will empower developers to "share selected fields from a credential, so they can implement new use cases," that is, proof of uniqueness sharing the biometric hash.

Besides the excitement in the Polygon ecosystem following these updates, the impact will resound in the long run as it complements the newly floated zkEVM protocol.

Solana Wallet Phantom Extends Support for Ethereum and Polygon

Polygon's growing embrace by ecosystem

One of the key indicators that shows the Polygon protocol is advancing at a rapid pace, is the growing embrace by noncrypto native firms. The latest of these is the launch of Box Office by SI Tickets, a non-fungible token (NFT) innovation from the collaboration between Sports Illustrated and ConsenSys.

This reiterates the earlier adoption of the Polygon network by multinational U.S.-based Starbucks Corporation, which launched its Odyssey reward platform on the protocol last year. The choice of Polygon stems from its low carbon footprint as well as the ease and low cost of transactions being conducted on the protocol.

The latest innovations and developmental updates are bound to accelerate this embrace across the board.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.