The Polygon bridge allows users to quickly transfer ERC tokens and non-fungible tokens (NFTs) to the Polygon sidechain. There are two main types of bridges in Polygon, Proof of Stake (PoS) bridges and Plasma bridges. Both can bridge assets from Ethereum to Polygon (and vice versa), but with different approaches to security.
PoS bridges use a Proof of Stake (PoS) consensus algorithm to secure the network. It supports the transfer of Ether (ETH) and most ERC tokens. It is recommended that most users choose a PoS bridge.
Plasma Bridge is for developers who need to improve their security. It uses the Ethereum Plasma scaling solution and supports the transfer of MATIC, ETH, ERC-20, and ERC-721 tokens.
How does Polygon bridge work?
The Polygon bridge uses a dual consensus architecture to optimize speed and increase the level of decentralization. It also supports arbitrary state transitions on the sidechain and is compatible with the Ethereum Virtual Machine (EVM). The cross-chain transfer of tokens can be completed instantly, without third-party risks or market liquidity restrictions.
Tokens are bridged through the Polygon bridge, and the circulating supply of tokens does not change. Tokens leaving the Ethereum network are locked, and the same number of tokens as the pegged tokens are minted in the Polygon network at a 1:1 ratio. When bridging the tokens back to Ethereum, the pegged tokens in Polygon will be destroyed, while the tokens in Ethereum will be gradually unlocked in the process.
There are two types of bridges in Polygon that support asset transfers, Proof of Stake (PoS) bridges and Plasma bridges. As the name suggests, PoS bridges employ a Proof of Stake (PoS) consensus algorithm to secure the network. Deposits to PoS bridges are completed almost instantly, but withdrawals may take a while to be confirmed. The PoS bridge supports the transfer of Ether (ETH) and most ERC tokens. The Plasma bridge supports the transfer of Polygon’s native token MATIC and some Ethereum tokens (ETH, ERC-20, ERC-721). It uses the Ethereum Plasma scaling solution to effectively improve security.
The interoperability of the Polygon bridge enables users to transfer assets between the Ethereum and Polygon blockchains. The Polygon Bridge is a brand new solution for users who want to experience different DeFi platforms and DApps in the Polygon network.
Leave a Reply