Sequoia Capital Makes a Big Bet on Web3, Leading $450 Million Investment in Polygon Blockchain
By Ryan Browne
Sequoia Capital is playing catchup with arch-rival Andreessen Horowitz in the race to invest in what could be the future of the internet — so-called Web3.
The Silicon Valley venture capital firm led a $450 million investment in Polygon, a blockchain network.
Blockchains are the distributed logs of transactions that underpin many of the world’s major digital currencies. They are maintained by a network of computers, which have to reach consensus across the whole system to confirm transactions and mint new units of currency.