Tuesday
February 8
2022

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.

Source: CNBC (link opens in a new window)

Categories
Technology
Tags
blockchain, digital currency, impact investing, tech, technology