Multi-dimensional comparison of application chain services Polygon Supernets and Avalanche Subnets.

2023-03-31 17:00

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Polygon and Avalanche have both invested heavily in their respective application chain solutions, Supernets and Subnets. How are they developing now?

Original title: "How is the progress of application chains? A multidimensional comparison of Polygon Supernets and Avalanche Subnet."

Source: PANews

On March 22nd, NFT game Aavegotchi announced the launch of its own blockchain, Gotchichain, utilizing Polygon Supernets. Following multi-chain ecosystems such as Cosmos and Polkadot, Avalanche and Polygon have also launched their own App Chains services. This article will compare the Subnets and Supernets solutions launched by Avalanche and Polygon, both of which are Layer 1 solutions, from multiple perspectives.

Polygon Supernets and Avalanche Subnets Introduction

Polygon and Avalanche are Layer 1 blockchains that are compatible with EVM and have developed due to the overflow of Ethereum's value.

Polygon is known as the "Swiss Army Knife" of Ethereum scalability, providing multiple scaling solutions, including Polygon PoS sidechains, EVM-equivalent zk Rollup solution Polygon zkEVM, application-specific Polygon Supernets, and the upcoming zk-optimized Rollup solution Polygon Miden. The Polygon Supernets iteration builds on the existing Polygon Edge in the ecosystem, aiming to achieve EVM compatibility and application-specific sovereignty. Designed as a "super network," Polygon Supernets offers developers more features and functionality, making it easy for them to build and deploy blockchain-based solutions.

应用链进展如何？多维度对比 Polygon Supernets 和 Avalanche Subnets

Avalanche Subnets allows everyone to customize private or public blockchain networks according to their own needs. Subnets can seamlessly connect with the Avalanche ecosystem without competing for network resources with other applications, achieving unlimited scalability. As the fees on Avalanche C-chain increase, Subnets can also reduce transaction fees for users on Subnets while increasing overall transaction volume in the Avalanche ecosystem.

Polygon Supernets and Avalanche Subnets are both customizable to meet the specific needs of applications. In most use cases, the two are in competition with each other.

应用链进展如何？多维度对比 Polygon Supernets 和 Avalanche Subnets

Performance Indicators

Although Polygon Supernets and Avalanche Subnets are both solutions for App Chains in the encryption industry, there are some differences in the implementation details between the two.

EVM: Both support EVM, and Avalanche Subnets also support custom virtual machines.

Cross-chain bridge: There are cross-chain bridges to Polygon or Avalanche, which provide access to the corresponding ecosystem on Layer 1.

Consensus Mechanism: Polygon Supernets uses IBFT Proof of Stake or IBFT Authority Proof mechanism, while Avalanche Subnets uses Snowman consensus mechanism.

TPS: Polygon Supernets are 1500+, Avalanche Subnets are 4500+.

Validator: Polygon Supernets has a maximum of 100 validators, while there is no limit on the number of validators for Avalanche Subnets. Validators on Avalanche Subnets need to validate the main network simultaneously.

Validator staking requirements: Both require staking the native tokens of the corresponding public chains, which are 20,000 MATIC and 2,000 AVAX, respectively.

Official Support

Polygon and Avalanche both have official incentive programs for Supernets and Subnets. Polygon Supernets was launched in February 2022 and announced plans to invest $500 million in projects interested in developing on the Supernet in March 2022. On March 22nd of this year, Polygon announced that ten companies in the gaming and DeFi industries will launch their own Polygon Supernets. Over the past year, Polygon Labs developers have worked hard to upgrade the Polygon Supernets technology stack, address community feedback, and make it easier for projects interested in launching proprietary chains to use Supernets.

In March 2022, the Avalanche Foundation launched a 4 million AVAX (valued at $290 million at the time) Multiverse incentive program to accelerate the development of Subnets. The first batch of collaborators for Avalanche Multiverse includes DeFi Kingdom, Aave, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie, and Securitize. Stani Kulechov, the founder of Aave, stated that Avalanche Subnets can create an ideal environment for institutions to migrate online and allow everyone to experience the power of these protocols as users.

Application Status

Avalanche Subnets allows projects to design blockchains based on specific business needs, enabling KYC and other customized features to promote the widespread adoption of Web3. As of March 29th, the Avalanche Subnets website shows only two games, Crabada and DeFi Kingdom, as being live, with games such as Wild Life, Shrapnel, and Ascenders set to launch. DeFi Kingdoms, as the representative project on Avalanche Subnets, was promoted to offer up to $15 million in rewards through the Multiverse incentive program.

DeFi Kingdoms was originally built on Harmony with its native token being $JEWEL. After being deployed on Avalanche Subnets as an independent DFK Chain, $JEWEL can now be used as a governance token as well as for paying gas fees, and a new token $CRYSTAL has been issued on the DFK Chain. According to current data, the deployment on Avalanche Subnets has not brought new opportunities for DeFi Kingdoms.

As of March 29th, the price of the native token $JEWEL was 0.188 USD, a decrease of over 99% compared to its high point of 21 USD in January 2022. The liquidity on DFK Chain is less than 6 million USD.

应用链进展如何？多维度对比 Polygon Supernets 和 Avalanche Subnets

There were 35 projects on Polygon Edge, including market prediction SX Network, decentralized tourism project Zo World, and Settlemint, which is used by local governments in the Indian state of North Akhand to track school medical equipment. However, Polygon's documentation shows that the mainnet of Polygon Supernets is undergoing an audit and is expected to go live in the second quarter of 2023. In the latest article released in March 2023, Polygon only introduced the first ten projects planned to be built using Supernets.

Companies in various fields, including Nexon and Plai Labs in the gaming industry, Nu, Lemon, and Ripio in the DeFi industry, and Acentrik and Gaia-x in the enterprise industry, are all planning to launch their own Supernets. In addition, Polygon has partnered with Axelar, ANKR, Airchains, Band, Layer Zero, Sequence, and other partners to support the project.

Summary

From the current situation, it seems that both Polygon and Avalanche have invested a lot of resources in their respective application chain solutions, Supernets and Subnets. This includes incentivizing with native tokens and collaborating with other industry providers to offer customized services, allowing related projects to be deployed quickly.

However, both of these solutions currently lack representative projects. DeFi Kingdoms performed poorly after being deployed to Avalanche Subnets, indicating that App Chain is not a panacea for project growth. Additionally, the Polygon Supernets mainnet has not yet been released, and the focus of Polygon's scaling solutions includes multiple options such as zkEVM. Previously, the market predicted that the era of widespread application chains is still in its early stages, and we will continue to monitor how application chains will develop in the future.