Polygon Commits $100M to ‘Supernets’ as Layer 1s Stand Up Application-Specific Blockchains
Polygon has announced Supernet chains, pledging to invest $100 million to attract the development of customizable networks.
Apr 22, 2022 at 1:26 p.m. UTCUpdated May 11, 2023 at 4:28 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BDVG45AKOZATTMUX7QXSRIUIPM.jpeg)
Polygon co-founder Sandeep Naliwal (Polygon)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Polygon plans to invest $100 million in customizable "Supernet" chains, customizable networks that projects will be able to run without cost.
- The tool aims to fast-track blockchain adoption by reducing the barrier of entry for developers who previously used Polygon Edge.
- On each Supernet, validators will stake MATIC tokens on the mainnet before going on to validate the network to ensure a robust level of security.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NGSYXLV2BJGXZNHDKETG7Y6ZF4.jpg)
- "The infrastructure tooling enables users to achieve desired outcomes easily and quickly," Polygon co-founder Sandeep Naliwal said in a statement. "Polygon's goal is to bring mass adoption to Web3 as the key to blockchain adoption is to provide a comprehensive range of options for enterprises."
- In March, Avalanche committed $290 million to a Multiverse Fund, some of which will be used to develop "Subnets," a similar concept to Polygon's Supernets.
- Both efforts ultimately aim to scale application-specific blockchains, particularly those focused on consumer or enterprise use cases.
:format(webp)/www.coindesk.com/resizer/fczAGHsWLFXiMV23oZZmkW19Ots=/arc-photo-coindesk/arc2-prod/public/D4HEG34XFVFVJHPXEEJAEFZ3SI.jpg)
Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.