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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Polygon (MATIC) Releasing Development Kit For Ethereum-Connected Chains

Taylor Scott
Taylor Scott
4 years ago
3 mins read
Bitcoin BTC BTCUSD

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Safe to say, Polygon has been on a tear lately. On the heels of a DappRadar report noting more than 75,000 active users and nearly $1B in value flows through their layer 2 protocol, the Polygon team has announced a new developer SDK for streamlined app creation. In the past month, our team at NewsBTC anticipated continued success for MATIC, and now the protocol is unleashing more developer-friendly materials.

Polygon’s SDK

Polygon-tracked apps continue to grow with regards to DeFi and Exchange-related categories. Today’s announcement will allow developers to continue that growth. Polygon announced that they will be launching a new software development kit (or SDK) for developers to unleash their own Ethereum-connected blockchains. The SDK will include a number of different plug-and-play modules and the team has stated it was designed to reflect a “Polkadot on Ethereum” approach.

The SDK is set to include modules like consensus, synchronization, TxPool, JSON RPC and gRPC. An initial version of the SDK will allow developers to create standalone chains with complete interoperability with Ethereum; a following version of the kit will enable dev teams to create layer 2 protocols directly connected to Ethereum mainnet.

Related Reading | How Polygon Became The Indian Tiger Of Blockchain Platforms

The Perspective

Compatibility with Ethereum as the protocol optimizes is clearly top of mind for the Polygon team. While scalability for Ethereum is a major talking point, Polygon is at the forefront of the conversation in terms of protocols addressing scalability concerns, while still looking to implement interoperability. In a statement surrounding the SDK’s release, co-founder Sandeep Nailwal noted that “with advanced ‘layer 2’ solutions, Ethereum 2.0 all coming online now or soon, the need for a comprehensive interoperability framework is stronger than ever. With the Polygon SDK, we are solving pressing needs for Ethereum’s multi-chain future, including ease of deployment and inter-L2 communication”.

 

$MATIC has seen a strong recovery after the recent market-wide slide | Source: MATIC-USD on TradingView.com

Looking Forward

As DeFi continues a high-flying emergence, Polygon looks to continue to be on the forefront. The protocol emphasizes lower gas fees relative to Ethereum, and fast transaction speeds. The aforementioned user growth, along with the protocol’s transaction speeds, have led to increased market attention. The protocol also took a vocal approach in a re-brand from Matic in recent months. Accordingly, billionaire Mark Cuban has is a recent investor, and is quickly implementing it into his NFT portfolio company Lazy.com. Other recent partnerships include computing network Aleph.im, with a focus on security and permanence in the NFT market.

Following the news, $MATIC has continued to show strong growth with prices nearing record-highs, and is looking to crack the top 10 in crypto in terms of market cap.

Related Reading | How Aave’s Integration With Polygon Will Maximize Users’ Profits

Featured image from Pixabay, Charts from TradingView.com
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Taylor Scott
Taylor Scott

Taylor Scott

Taylor specializes in crypto activity across sports and entertainment. With nearly a decade of engagement with cryptocurrency, Taylor has spent several years working in talent representation with musicians, comedians, and speakers, and achieved a Sports Business MBA in 2020.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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