Polygon unveils Supernets, $100m bailout package

Key receivers

Polygon has announced a new developer framework called SuperNets. Supernets helps bootstrap enterprises looking to build applications on private and public blockchain networks. The Polygon Group has announced a $100 million grant fund to encourage development on supernets.

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Polygon has unveiled a new set of customizable “Supernet” chains. The Ethereum scaling solution has announced $100 million in grants to encourage development using the new product.

Polygon announces ‘Supernets'

Polygon is launching a new developer framework.

Mumbai-based Ethereum scaling solution Polygon has announced it will launch Supernets and invest $100 million.

Polygon hopes the new update will help Bootstrap enterprises looking to build decentralized applications on private and public blockchain networks. In a press release, the team said that SuperNets will build on the existing Polygon Edge framework, but offers improvements to streamline the onboarding process.

While Polygon Edge shares network authentication, supernets provide enterprises with their own secure decentralized blockchains. Developers can apply for a Supernet Sovereign Chain or a shared security chain. A Sovereign Chain is a network managed by a single professional verifier, which Polygon says helps reduce deployment and maintenance costs. Shared security chains, on the other hand, receive validation from third-party verifiers verified by Polygon.

Supernets are built on polygon edges. The team says SuperNet can help projects handle millions of daily active users and tens of millions of daily transactions. Sandeep Naliwal, founder of Polygon, had this to say about the launch:

We are proud of the success Polygon Edge has achieved so far and are excited to build on this success to provide you with Supernets. Polygon's goal is to bring it to Web3, as the key to blockchain adoption is to provide enterprises with versatile options. Encouraging developers to build what they want is in our DNA – and we're thrilled to be able to provide a tool that achieves this.

Polygon isn't the only network taking steps to deliver decentralized applications on a blockchain. Avalanche recently launched a DFK chain subnet for the revenue game DeFi Kingdoms. Like supernets, Avalanche subnets share the security of their parent blockchain, while partitioning application-specific transactions to ensure separate authentication. This reduces congestion on the main network, increases scalability, and keeps transaction fees low.

Like Avalanche, Polygon hopes to attract blockchain games and applications that require high transaction volumes. Having experienced congestion problems in the past, supernets can bring the critical improvements needed to meet mass adoption.

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

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