Users can instantly send ERC tokens and NFTs to the Polygon sidechain by using the Polygon Bridge. The Proof of Stake (PoS) Bridge and the Plasma Bridge are the two main bridges on Polygon. Both can connect assets from Polygon to Ethereum or Ethereum to Polygon, but they use various security measures.
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The Proof of Stake (PoS) consensus technique is used by the PoS Bridge to protect its network. The majority of ERC tokens including ETH are supported for transfer. It’s the recommended solution for most consumers.
For developers that require more security, there is the Plasma Bridge. It supports the transfer of MATIC, ETH, ERC-20, and ERC-721 tokens and scales with Ethereum Plasma.
It has been difficult to share data and tokens between multiple networks due to the growing number of blockchains in the cryptocurrency industry. To solve this issue, some projects are creating bridges between networks to enable asset transfers.
Increased interoperability between the Polygon and Ethereum blockchains is the goal of the Polygon Bridge. Users can send and receive tokens with the help of a compatible cryptocurrency wallet.
What is the Polygon Bridge?
Since there are too many transactions taking place on the network at once, congestion is a major problem for Layer 1 blockchains like Ethereum. As a result, transaction speeds are slower and transaction fees for quick transactions are greater.
By handling more transactions at lower costs, Layer 2 blockchains address this issue and lighten the load on Layer 1 blockchains.
One such Layer 2 blockchain, built on Ethereum, is Polygon. It allows for the creation of non-fungible tokens (NFTs) and offers quicker transactions with cheaper gas costs. Additionally, it aids in the creation and telecommunication of DApps in a safe and effective ecosystem.
In order to avoid paying for gas or transaction fees, we might occasionally need to shift our virtual assets from one network to another. A bridge that works with Ethereum called Polygon Bridge enables asset transfers from other blockchains to Ethereum and vice versa.
Token exchanges with cheaper costs are QuickSwap and SushiSwap, which are based on Ethereum. AnySwap, a completely distributed system for cross-chain token swaps, collaborated with Polygon to build a cross-chain bridge. Additionally, Polygon Bridge enables low-cost token and NFT transfers between blockchains.
How does the Polygon Bridge work?
Tokens can be moved across chains via the decentralized, dual-consensus Polygon Bridge system. It utilizes a single token model and is compatible with the Ethereum Virtual Machine, supporting arbitrary state changes on sidechains (EVM). Instant cross-chain token transfers are possible without reliance on third parties or restrictions on market liquidity.
Tokens on Ethereum are unlocked by Polygon Network, but after they have been bridged back to Ethereum, the tokens on Polygon are burned. The circulating supply of a token does not change when it is bridged across the Polygon Bridge. When a token leaves the Ethereum network, it is frozen, and an identical amount of new tokens are created on the Polygon Network at a 1:1 ratio.
Proof of Stake (PoS) Bridge and Plasma Bridge are the 2 different bridges available in Polygon for the transfer of assets. Each uses a different method to secure networks and complete transactions.
1. PoS (Proof of Stake) Bridge
PoS Bridge secures its network by using a PoS consensus. While deposits are almost instantaneously confirmed, withdrawal confirmation duration may vary. The majority of ERC tokens and Ether (ETH) can be transferred through the PoS Bridge.
2. Plasma Bridge
To provide higher transfer security, Plasma Bridge makes advantage of the Ethereum Plasma scaling technology. Transfers between the native MATIC currency of Polygon and particular Ethereum tokens like ETH, ERC20, and ERC721 are supported.
How to bridge tokens from Ethereum to Polygon via the PoS Bridge?
You need a suitable cryptocurrency wallet, such MetaMask, to bridge tokens from Ethereum to Polygon. Follow the instructions in this guide to establish a MetaMask wallet if you don’t already have one. Additionally, you’ll need to get the MetaMask browser extension and install it.
1. Click [Polygon Bridge] to log into the Polygon Web Wallet.
2. The next step is to connect your cryptocurrency wallet. Here, we’ll make advantage of Metamask.
3. To link your MetaMask wallet to your Polygon wallet, you will be required to sign a message. You will not be charged for this signature. Check the URL again to make sure you are on the right website, then click to continue.
4. The interface for the Polygon Bridge should now be displayed. If not, select [Bridge] from the option on the left.
5. Select the [Deposit] tab to send your tokens from the Ethereum mainnet to Polygon. To select the token to bridge, click on the token’s name. To illustrate, we’ll utilize ether (ETH). Type the desired amount and select “Transfer.”
6. When you are ready, read the relevant notes and press [Continue].
7. The projected gas cost for this transaction is also shown. If the gas prices are acceptable to you, click [Continue] to go forward.
8. Before choosing [Continue], double-check your transaction’s specifics, including the token value and the anticipated transaction fee.
The transfer will subsequently be shown for your signature and approval in your MetaMask wallet. Click [Confirm] after verifying that the information is accurate.
10. Await the arrival of the tokens in your Polygon wallet after confirmation.
How to bridge tokens from Polygon to Ethereum via the PoS Bridge?
The Polygon Bridge can be used to move tokens from Polygon to Ethereum. Similar to that, you’ll require a suitable cryptocurrency wallet like MetaMask.
The Plasma Bridge and the PoS Bridge are the two bridges that make up the Polygon network. Depending on whatever Polygon Bridge you’re using, the withdrawal time changes. While the Plasma Bridge can take up to 7 days, the PoS Bridge withdrawal typically takes 45 minutes to 3 hours.
Let’s look at how to transfer funds using the PoS Bridge from Polygon to Ethereum:
- On the [Bridge] user interface, select [Withdrawal]. The tokens you intend to send to the Ethereum network should be chosen.
- You’ll probably see a button next to the Transfer Mode option. Based on the token you select, the platform will automatically choose an appropriate bridge for your transfer.
- For moving tokens from Polygon to Ethereum, the PoS Bridge is advised. The exchange of ETH and other Ethereum tokens, such as ERC-20, ERC-721, ERC-1155, and others, is supported.
- Select the token and then click [Transfer] after entering the desired amount.
- When you are ready, read the important notes and click [Continue].
- The [Transfer Overview] pop-up will also provide the projected gas cost for this transaction. If the gas prices are acceptable to you, click [Continue] to go forward.
- You can review your transaction details, including the token amount, the bridge you’re using, and the estimated gas fee before you click [Continue]. You need to sign and approve the transfer in your MetaMask wallet. Check if the details are correct and click [Confirm].
- Once confirmed, wait for the tokens to arrive in your Polygon wallet. You may click [View on Etherscan] to check the transaction status.
- Next, you’ll see the transfer progress. Your withdrawal will be initiated on the network, and the PoS validators will verify your transaction. It might take up to 3 hours to complete, but there is no action required from you.
- Once your transaction is validated, you need to claim the tokens to your MetaMask wallet. Click [Continue], and you can see the assets when the withdrawal is complete.
How to bridge tokens from Polygon to Ethereum via the Plasma Bridge?
You can use the Plasma Bridge to transfer MATIC or other Polygon tokens to Ethereum. Be aware that only ERC-20 and ERC-721 tokens, including ETH and MATIC, can be transferred using the Plasma Bridge.
In this illustration, we’ll use MetaMask to move MATIC tokens from Polygon to Ethereum. The MetaMask wallet is by default only linked to the Ethereum mainnet. To view your MATIC and begin the procedure, you must first add the Polygon network to your wallet.
Step 1: Polygon to MetaMask addition
The Polygon network can be added to your MetaMask wallet using one of 2 techniques. The traditional approach is to manually add it. To swiftly include Polygon to your MetaMask’s network list, you can use use the Polygon Wallet interface.
- To do this, select [Switch to Polygon] from the top menu. Make sure your MetaMask wallet is already connected.
- A pop-up from your MetaMask add on will appear with information about the Polygon network. Now click on [Approve].
- Your MetaMask now includes the Polygon network. Your MetaMask must now be switched from the Ethereum Mainnet to the Polygon network. By selecting [Switch network], you can do it.
- MATIC should now appear in your MetaMask wallet.
Step 2: using MetaMask for Bridging MATIC to Ethereum
- Click [Withdrawal] on the [Bridge] interface. Select [Matic Token] from the list of available tokens, type the appropriate amount, and click [Transfer]. When choosing a transfer mode, the system will automatically choose [Plasma Bridge].
- After reading the crucial notes, press [Continue] when you’re ready.
- The projected gas cost for this transaction is also shown. Click [Continue] if you are okay with the petrol prices.
- Before choosing [Continue], review the specifics of your purchase.
- You will get a MetaMask pop-up asking you to confirm the transaction. When you click [Confirm], the transfer will start. For a Plasma Bridge transfer, three transactions require manual confirmation. The first step is to start your Polygon wallet withdrawal, which could take three hours. (For a Plasma Bridge transfer, 3 transactions are required to manually confirm. The first step is to start your Polygon wallet withdrawal, which could take up to three hours).
- 6. As soon as the checkpoint is reached, your transaction has been verified on the Ethereum blockchain. To begin the challenge period, you must first confirm a second transaction. Increasing the security of withdrawal transactions is the goal of this measure.
- To send the MATIC tokens to your MetaMask wallet following the challenge period, just click [Continue].
Both new users and natives dislike paying exorbitant gas prices, and when more dapps are launched on Polygon, users may perform the majority of their Web3 activities there. Compared to Ethereum’s current Proof of Work chain, Polygon’s Proof of Stake network is more ecologically friendly and enables Ethereum activity to scale effectively. Once your assets are bridged, you may easily enter further into Web3 by choosing to play games, buy NFTs, swap and stake tokens, and more.