Polygon Unveils Supernets, $100M Grants Package

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Polygon Unveils Supernets, $100M Grants Package
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Polygon has announced a new developer framework called Supernets. Supernet will help guide enterprises to build applications on private and public blockchain networks. The Polygon team also announced a $100 million grant fund to encourage the development of supernets.

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Polygon has launched a new set of customizable “supernet” chains. Ethereum Scaling Solutions also announced a $100 million grant to encourage development with its new product.

Polygon announces ‘Supernet’

Polygon is launching a new developer framework.

Mumbai-based Ethereum Scaling Solutions announced that it will launch Polygon Supernets and invest $100 million in projects interested in increasing their growth through dedicated hypernet chains.

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Polygon hopes the new update will help guide businesses building decentralized applications on private and public blockchain networks. Supernets builds on the existing Polygon Edge framework but provides improvements to help simplify the onboarding process, the team said in a press release.

Polygon Edge shares network verification, while Supernets will provide businesses with their own secure, decentralized blockchain. Developers will be able to apply for supernet sovereign chains or shared security chains. Sovereign Chain is a network governed by a single professional validator, and Polygon says it will help reduce deployment and maintenance costs. At the same time, the shared security chain will be verified by Polygon’s vetted third-party validators.

Supernet will be built on Polygon Edge. The team claims that Supernet can help projects handle millions of daily active users and tens of millions of daily transactions. Polygon co-founder Sandeep Naliwal said about the launch:

“We are proud of the success Polygon Edge has achieved so far, and we are excited to build on that success to provide you with Supernet. Polygon’s goal is to bring mass adoption to Web3, as the key to blockchain adoption It’s about providing comprehensive options for the enterprise. It’s always been in our DNA to enable developers to build what they want – and we’re excited to offer a tool to make that happen.”

Polygon is not the only network taking steps to provide a dedicated blockchain for decentralized applications. Avalanche recently launched its DFK chain subnet to host the play game DeFi Kingdoms. Like supernets, Avalanche subnets share the security of their parent blockchain, while splitting application-specific transactions for individual verification. This reduces congestion on the main network, improves scalability, and keeps transaction fees low.

Like Avalanche, Polygon hopes to attract blockchain games and applications that require high transaction throughput. Given the congestion problems it has faced in the past, supernets could bring important scalability improvements needed to meet mass adoption.

Disclosure: At the time of writing, the author owns ETH and several other cryptocurrencies.

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