Polygon a blockchain network that offers Ethereum scalability has announced a $100 million funding for Supernets, a new blockchain system designed exclusively for Web3 applications. The network aspires to create an ecosystem of projects centered on innovation on the Polygon network and Web3 in general.
Polygon has put aside $100 million for Supernets, a new blockchain technology. Developers will find it simple to create apps with high customizability and minimal costs thanks to supernets. The $100 million will be used to promote Supernet development.
To meet a variety of purposes, his Supernets will have both a sovereign and a shared security chain. These chains are completely customizable and cost-free to operate. The goal is to speed up Web3 development and lower the barrier to entry in terms of development.
Polygon is a blockchain network that offers Ethereum scalability options. It has quickly become a focus of activity in the last two years, with applications spanning both DeFi and gaming. Along with it, the project’s MATIC token has grown significantly.
To maintain security, validators will stake their MATIC tokens on the mainnet for each Supernet. The Supernet is comparable to what Polkadot has to offer, albeit there are significant differences in the details.
Sandeep Nailwal, a co-founder of Polygon, remarked about the project’s objective to promote Web3 adoption, saying, “The infrastructure tooling enables users to achieve desired outcomes easily and quickly. 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.”