On April 22nd, Polygon, the Layer 2 Scaling Network (L2), introduced the new Supernets network, a blockchain protocol designed to support Web3 technology. In addition, Polygon pledges $100 million to early Supernet adopters “who can help accelerate adoption.” The announcement describes how Supernets is essentially the team’s Polygon Edge network “on steroids.”

Polygon Supernets – Dedicated, scalable blockchains aiming to drive mass adoption

Polygon revealed a new project called Supernets after launch polygon edge last year. Essentially, Polygon Edge is a customizable blockchain stack that allows users to launch dedicated blockchain networks that do specific things. After launching Edge 11 months ago, the team uncovered Polygon Supernets, an Edge powered project with less complexity. While Supernets still uses Edge, the latest launch offers “several key features” that reduce the complexity associated with Edge.

Supernets basically allows developers to build custom networks without all the costs associated with servers. The Polygon team says that Supernets are a dedicated solution because “each Supernet is built and operated for a specific application, project or use case,” giving users the benefit of “Web3 dedicated hosting.” The networks can also be secured using Polygon’s native crypto asset MATIC. To increase awareness and adoption, Polygon further announced that it is allocating $100 million to early Supernet adopters.

“Super excited to introduce Polygon Supernets powered by Polygon Edge,” the team tweeted on Friday. “Polygon Supernets are dedicated, scalable blockchains that aim to drive mass adoption of Polygon and Web3. To support this ambitious product and goal, we are announcing a $100M endorsement fund.” The team’s Twitter thread mentioned that more than 20 projects are “already built on Edge,” and the Polygon team has learned a lot from these teams. Polygon also shared five benefits of using supernets, including:

  • You are engaged;
  • Can use MATIC PoS validators immediately;
  • They are connected to each other;
  • Can be managed/maintained by our certified partners;
  • Supports any edge architecture.

Polygon Co-Founder Says Supernets Can “Speed ​​Up Blockchain Ambitions.”

Polygon has made many development and business moves in the last 12 months and in the first week of February the project raised US$450 million from investors such as Sequoia Capital India, Softbank and Shark Tank’s Kevin O’Leary. Last December polygon acquired the Mir Protocol for $400 million and the same month Polygon started a $200 million social media-backed Web3 fund with Alexis Ohanian’s Seven Seven Six venture capital.

In April of this year, Polygon announced the launch of a zero-knowledge identity platform for Web3. According to Friday’s Supernets announcement, the $100 million will be distributed for things like development contracts, research contracts, grants, third-party integrations and partnerships, onboarding and migration, cash reduction, and acquisitions.

“For Web3 to take off, it is critical to abstract away the complexities of blockchain development while offering scalability and personalization,” concluded Mihailo Bjelic, Polygon’s co-founder, in a statement. “Polygon Supernets deliver all of this, enabling any project to quickly pursue their blockchain ambitions and join Polygon’s growing multi-chain ecosystem.”

tags in this story

$100M Fund, $450M Fundraising, Complexities, Crypto Assets, Development Contracts, Grants, Mihailo Bjelic, Multi-Chain, Multi-Chain Ecosystem, Polygon, Polygon (MATIC), Polygon Co-Founder, Polygon Early Users, Polygon Edge, Research Contracts, Supernets, Supernets Blockchains, 3rd Party Integrations, Web3, Zero-Knowledge Identity Platform

What do you think of polygon supernets? Let us know what you think about this project in the comments section below.

Jamie Redman

Jamie Redman is the news director at Bitcoin.com News and a Florida-based financial technology journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about today’s emerging disruptive protocols.

photo credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

What's your reaction?
Leave a Comment