How to use Polygon Bridge?
Overview
Polygon bridges can quickly transfer ERC tokens and NFTs to Polygon’s sidechains. There are two main types of bridges in Polygon: the Proof of Stake (PoS) bridge and the plasma bridge. Both allow for asset bridging from Ethereum to Polygon (and vice versa), but with different security schemes.
PoS bridges use a proof of stake (PoS) consensus algorithm to protect your network. Supports transfer of Ether (ETH) and most ERC tokens. This is the recommended option for a large number of users.
Plasma bridges are for developers who need increased security. It uses the Ethereum plasma scaling solution and supports the transfer of MATIC, ETH, ERC20 and ERC721 tokens.
Introduction
The number of blockchains is increasing in the crypto space, making it difficult to share data and tokens between different networks. To address this issue, there are also projects that bridge networks and facilitate asset transfers.
The Polygon bridge is designed to enhance interoperability between the Polygon and Ethereum blockchains. By using a compatible cryptocurrency wallet, users can easily transfer tokens.
What is a Polygon bridge?
Polygon is a framework for creating Ethereum-compatible blockchain networks and scaling solutions. It aims to enrich the Ethereum ecosystem by providing tools for building scalable decentralized applications ( DApps ) and increasing Ethereum’s transaction throughput at lower fees. Popular decentralized finance ( DeFi ) platforms such as Aave, Curve and Sushi swaps are already deployed on Polygon.
In order to interact with DApps and tools on Polygon, you need to transfer the assets to Polygon’s network. That’s where the Polygon Bridge came in. Polygon bridges are trustless Cross chain bridge development transaction channels between Polygon and Ethereum. ERC tokens and non-fungible tokens (NFTs) can be transferred to Polygon’s sidechain, all possible using smart contracts.
How the Polygon bridge works
The Polygon bridge uses a dual consensus architecture to optimize speed and decentralization. It also supports arbitrary state transitions in the sidechain and is compatible with Ethereum virtual machines (EVMs). Cross-chain token transfers can be realized instantly without the risk of third parties or the restrictions on market liquidity.
When bridging tokens with a Polygon bridge, there is no change in the circular supply of tokens. Tokens that leave the Ethereum network are locked and the same number of tokens as peg tokens are generated in the Polygon network on a one-to-one basis. When bridging tokens to Ethereum, the peg tokens on Polygon are incinerated and the ones on Ethereum are unlocked in the process.
Polygon offers two types of bridges for asset transfers: Proof of Stake (PoS) Bridges and Plasma Bridges . PoS bridges, as the name implies, use a consensus algorithm called Proof of Stake (PoS) to ensure network security. Deposits at the PoS Build a cross chain bridge are completed almost instantly, but withdrawals can take some time to confirm. The PoS bridge supports the transfer of Ether (ETH) and most ERC tokens.
Plasma Bridge, on the other hand, supports the transfer of MATIC, Polygon’s native token, and some ERC tokens (ETH, ERC-20, ERC-721). The Ethereum plasma scaling solution is used to enhance security.
How to create bridge tokens from Ethereum to Polygon with PoS bridge
In order to Bridge Smart Contract Development Services tokens from Ethereum to Polygon, you will need a compatible cryptocurrency wallet such as MetaMask . If you don’t have a MetaMask wallet, follow this tutorial to create one. You will also need to download and install the MetaMask browser extension.
1. Click Polygon Bridge to log in to the Polygon web wallet .
2. Next, you need to connect the cryptocurrency wallet. This example uses Metamask.
3. You will be asked to sign a message to connect your MetaMask wallet to your Polygon wallet. There is no fee for this signature. Double-check the URL and click Sign to continue.
4. You should be redirected to the interface of the Polygon bridge. If you are not redirected, click Bridge on the left menu bar.
5. To send tokens from the Ethereum mainnet to Polygon, go to the Deposit tab. Click the token name and select the token you want to bridge. This example uses Ether (ETH). Enter the amount and click Transfer.
6. Read the important notes on click Continue when you are ready.
7. An estimate of the gas fee for this transaction is also displayed. If you are satisfied with your gas fees, click Continue to continue.
8. Review transaction details, such as the amount of tokens and an estimate of transaction fees, and click Continue.
The PoS bridge is protected by a validator. Returning funds to the Ethereum network can take up to 3 hours.
9. You will then be prompted to sign your MetaMask wallet and approve the transfer. Confirm that the entered information is correct, and click [Confirm].
10. After confirmation, please wait for the token to be reflected in the Polygon wallet. You can check the transaction status by clicking View with Ether Scan.