Recently, there have been significant developments for five altcoin projects. In the light of the developments, a change in prices was observed. Here are the remarkable news and price movements of altcoins…
Polygon announces launch of Polygon ID
As we have also reported as Kriptokoin.com, Polygon behind the MATIC altcoin made an important launch today. Polygon ID, a self-contained identity infrastructure stack, was released as open source software. The release of this decentralized and private identity solution promises to bring a fundamental change in the trust model of the internet. With the Polygon ID infrastructure stack, anyone can transact with a Web3 identity, using off-chain data for unreliable on-chain validations in the widely supported Verified Credential format.
https://twitter.com/0xPolygon/status/1630997045703049238
Developers can leverage Polygon ID to unlock a range of new use cases, from use by DAO and DeFi domains. Polygon ID’s tools allow developers to create decentralized identity solutions that give users greater control over their identity and authority over how they use their personal data to answer questions from corporations and private entities. MATIC is currently changing hands at $1.22, down 2.78 percent. However, the coin saw the highest levels of $ 1.26 during the day.
Avalanche announces beta version of Glacier API
Avalanche, the fastest and most reliable smart contracts platform, has announced the beta launch of its Glacier API. This platform provides developers a one-stop-shop for all enriched Blockchain data from Avalanche and Ethereum, as well as the official API service that indexes Avalanche Subnets. Glacier API Beta offers a variety of useful data for explorer and wallet services, token transfers, and more.
The platform was originally created to power the Avalanche Subnet Block Explorer and Core Wallet, which provides balances, transfers and associated metadata for native assets, ERC-20 tokens and NFTs. Using Glacier, developers can easily create products that leverage real-time and historical transactional data, all delivered via high-performance APIs. Additionally, developers participating in the Glacier API Beta will receive free access to the platform’s services and have the opportunity to shape future feature development. At the time of writing, AVAX is changing hands at $17.31, down 2.55 percent. However, the coin rose as high as $17.83 on a daily basis.
Chainlink combines web2 and web3
Web3 oracle provider Chainlink has introduced “Chainlink Functions”, a new serverless developer platform on its Web3 services platform to enable developers to build decentralized applications and connect smart contracts to any web2 API. The newly launched Chainlink Functions is designed to provide “a seamless environment and robust toolset that allows developers to build, test, simulate, and run custom logic for Web3 applications.” Post development Chainlink (LINK) rallied from $7.32 to $7.56. At the time of writing, it was withdrawn to $7.35.
Altcoin project Ren Token has made a splash
The REN, the native token of the Ren protocol, has risen from $0.1211 to $0.1344 in the last 24 hours. It retraced to $0.124 at the time of writing. But its rise has come amid growing interest in multi-chain projects. It also seems to reflect the growing interest in the protocol, which provides cross-chain liquidity by allowing users to move crypto assets from one blockchain to another. “The multi-chain narrative captures investor excitement,” said Charles Stry, head of growth at Phuture. The REN has increased nearly 50 percent in the last two weeks.
Altcoin project announced staking model
Finally, Thales built the staking model into Arbitrum, allowing for multi-chain DAO governance. THALES is a standard ERC-20 token that grants governance rights to users who stake the token on the Thales decentralized autonomous organization (DAO). According to a Thales blog post, around 20,000 THALES tokens will be prorated each week to users who stake THALES on Arbitrum. Each staker can receive 50 percent of the staking rewards as a bonus, depending on the user’s activity across the protocol.
The extension of Thales’ staking approach to Arbitrum, already deployed on Optimism, Polygon, and BNB Chain, not only aims to make ThalesDAO governance more flexible by having governance voters or THALES stakers on several chains, but also encourages the use of the protocol. THALES recorded a 7 percent increase at the time of writing.
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