On April 22, the layer two (L2) scaling network Polygon introduced the new Supernets network, a blockchain protocol that’s built to bolster Web3 technology. Furthermore, Polygon is pledging $100 million to early Supernet users “who can help fast-track adoption.” The announcement details that Supernets is essentially the team’s Polygon Edge network “on steroids.”
Polygon Supernets – Dedicated and scalable blockchains that aim to trigger mass adoption
Polygon Revealed a new project called Supernets after the 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 revealed Polygon Supernets, an Edge-powered project with less complexity. While Supernets still uses Edge, the latest rollout offers “several important features” that alleviate the complexities associated with Edge.
Supernets basically allows developers to build custom networks without all the costs associated with servers. The Polygon team says Supernets are a dedicated solution, as “every Supernet is built and run for a specific application, project or use case,” which gives users the advantage of “dedicated Web3 hosting.” The networks can also be secured using Polygon’s native crypto asset MATIC. In order to increase awareness and adoption, Polygon has further revealed it is allocating $100 million to early Supernet users.
“Super excited to introduce Polygon Supernets powered by Polygon Edge,” the team tweeted Friday. “Polygon Supernets are dedicated, scalable blockchains that aim to spark mass adoption of Polygon and Web3. To support this ambitious product and goal, we are announcing a $100 million support fund. team mentioned that more than 20 projects “are already built on Edge” and the Polygon team has learned a lot from those teams. Polygon also shared five benefits of using Supernets, including:
- They are dedicated;
- Can use MATIC PoS validators out-of-the-box;
- They are interconnected;
- Can be managed/maintained by our Certified Partners;
- Support any Edge architecture.
Polygon co-founder says supernets can “accelerate blockchain ambitions”
Polygon has made a lot of development and commercial moves over the past 12 months, and in the first week of February the project raised $450 million from investors including Sequoia Capital India, Softbank and Kevin O’Leary of Shark Tank. Last December, Polygone acquired the Mir protocol for 400 million dollars and this same month Polygon started a $200 million social media-based Web3 fund with Alexis Ohanian’s venture capital Seven Seven Six.
This April, 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, liquidity mining, and acquisitions.
“For mass adoption of Web3 to take hold, it is essential to abstract away the complexities of blockchain development and simultaneously provide the ability for scalability and customization,” concluded Mihailo Bjelic, co-founder of Polygon, in a press release. “Polygon Supernets offers all of this, allowing any project to accelerate its blockchain ambitions and join the growing Polygon multi-chain ecosystem.”
