Polygon will invest $100M in projects that use its Supernets blockchain
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Polygon has launched a new kind of dedicated blockchain network dubbed Supernets and said it will invest $100 million in projects that use it.
The company will put money into projects that are interested in increasing their growth through a dedicated Polygon Supernet chain.
Polygon is an Ethereum-based blockchain that uses various techniques to scale to millions of transactions and lower environmental costs. It has more than 7,000 applications — including a lot of games — and it has processed a billion transactions.
A supernet is an internet network that is formed by combining multiple networks, or subnets, into a larger network. The benefits include conservation of address space and efficiencies in routers in terms of memory storage and associated processing overhead.
The push to become more efficient is a never-ending task for blockchain companies. Polygon said earlier this year that a transaction on its network uses the equivalent energy of two Google searches. But this analysis found flaws in Polygon’s assessment and the energy used could be 1,000 times more. I asked if that assessment were correct multiple times, and the company finally answered yesterday by pointing to an announcement. In April, Polygon announced it would be “carbon negative” in 2022 by donating $20 million for tree planting and other ways to offset energy usage.
Polygon recently raised $450 million for its blockchain protocol and hired YouTube Gaming chief Ryan Wyatt to build its blockchain gaming platform.
Polygon said the Polygon Supernets is a dedicated network that organizations and projects can run at no added hosting or operational
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