Polygon Unveils the Supernets and $100M Grants Package

Polygon Announces ‘Supernets’

Polygon launches a new framework for developers. Mumbai-based Ethereum scaling company Polygon Supernets announced that it will launch Polygon Supernets, and invest $100 million to help projects grow through a Supernet chain. Polygon hopes the new update will allow enterprises to bootstrap and create decentralized applications on both public and private blockchain networks. The team released a press release stating that Supernets are based on the Polygon Edge framework, but provide improvements to streamline the onboarding process. Polygon Edge is a network validation service, but Supernets will provide enterprises with their own secure, decentralized, and decentralized blockchains. Developers can apply for a Supernet Security Chain or a Shared Security Chain. A Sovereign Chain can be defined as a network that is managed by one professional validater. Polygon claims it will reduce deployment and maintenance costs. Shared Security Chains, meanwhile, will receive validation from Polygon’s vetted third-party validators. Polygon Edge will be used by Supernets. Supernet, according to the team could enable projects to handle millions of active users daily and tens on millions of daily transactions. Sandeep Naliwal, co-founder of Polygon, spoke out about the launch. “We are proud of the success Polygon Edge has had so far and we’re thrilled to have built on this success to give you Supernets. 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. Empowering developers to build what they want has always been in our DNA — and we’re excited to be able to offer a tool that achieves just that.” Polygon isn’t the only network to take steps towards providing dedicated blockchains that can be used for decentralized applications. Avalanche has recently launched the DFK Chain Subnet to host the game play-to-earn DeFi Kingdoms. Avalanche Subnets share the security and integrity of Supernets, but allow for specific transactions to be validated independently. This helps reduce congestion, improves scalability and lowers transaction fees. Polygon, like Avalanche is looking to attract blockchain games as well as applications that need high transaction throughput. Given that it’s faced congestion issues in the past, Supernets could bring the vital scalability improvements it needs to cater for mass adoption.