Polygon launches blockchain ‘Supernets’ with $100M in Web3 developer grants

Ethereum scaling solution Polygon today unveiled a new dedicated network for blockchain hosting called “Supernets” and announced a $100 million fund to encourage developers to use the technology.

Polygon is what is known as a Layer-2 scaling solution that provides developers infrastructure on top of the popular Ethereum blockchain to reduce transaction times and costs caused by congestion.

Blockchain technology is the basis of Web3, the decentralized web, which is made up of distributed peer-to-peer applications that run without the need for dedicated servers or centralized authority. Web3 applications are built out of self-executing programmable smart contracts that govern operations and logic over networks.

This fact can lead to challenges for developers because…