Polygon, a global and sustainable Web3 infrastructure built on Ethereum, announced Polygon Supernets, a dedicated blockchain network powered by Polygon Edge, and a $100 million ecosystem support fund on Friday, April 22nd, 2022.
Supernets are high-performing, dedicated, and scalable Ethereum-based blockchains built on Polygon Edge that aims to accelerate the adoption of Polygon and Web3. Polygon Edge is an open-source framework for creating Ethereum-compatible blockchain networks, sidechains, and general scaling solutions. Its primary purpose is to help establish a new blockchain network while maintaining complete compatibility with Ethereum smart contracts and transactions. Polygon Edge was launched in May 2021.
Even though Polygon Edge is currently used by over 35 networks and 20 Web3 apps and organizations due to its high performance, and full customization, among others, it has several drawbacks, such as difficulty in bootstrapping a stable and decentralized validator set with well-designed coordination mechanisms, which has a significant influence on network security and consumes a lot of bandwidth for the application team.
Furthermore, maintaining, upgrading, and running blockchain networks is complex, adding new attack vectors and issues. Furthermore, selecting or switching between multiple architectures is a confusing and challenging process on Edge.
Polygon Supernets has been created by the Polygon core team, as announced on Twitter, to address these critical concerns and to facilitate the adoption of Polygon, Blockchain technology, and other features.
Polygon Supernets are dedicated, which means that each Supernet is built and operated specifically for a specific application. The introduced Supernets provide a “shared security” layer in the form of a MATIC-staked validator marketplace secured by Polygon’s MATIC network. Projects that employ this functionality will provide a decentralized, stable Proof of Stake validator set, allowing them to avoid the difficulties of bootstrapping a validator network. This feature helps solve to solve many security issues. Furthermore, Polygon Supernets are linked to one other and Ethereum, allowing Supernets to exchange value and messages with each other and with the Ethereum mainnet. In addition, it will enable the use of any scaling architecture, and approved Edge partners manage Supernests.
Polygon pledges $100 to develop and deploy Supernets.
As part of Polygon’s goal to achieve mass adoption of Web 3 and be a massively scalable, multi-chain system that will consist of multiple PublicNets and an unlimited number of supernets, where all PublicNets and supernets will quickly connect and exchange values and information. Polygon is providing $100 million for Supernet adoption and development. The funds are available and can be used for liquidity mining, project onboarding and migration, research contracts, and grants, among other things.