To do anything on Polygon, you need MATIC, which is not always easy to find on other networks’ DEXs.
Asset pooling can help address issues such as scalability, speed, and high fees. The bridge means that users can quickly and cheaply move their tokens between blockchain networks.
Polygon Bridge is used for cross-chain transactions between the Polygon (MATIC) and Ethereum (ETH) blockchains. It allows users to transfer ERC and NFT tokens to the Polygon sidechain via smart contracts.
This guide will show you how to connect Polygon with other blockchains. However, since Ethereum is the platform most commonly used for decentralized finance (DeFi), non-fungible tokens (NFTs), and the Metaverse, we will look at how tokens from the Ethereum network in Polygon, which is becoming increasingly popular thanks to the Polygon platform, can provide its effective interoperability. .
How to use Polygon Bridge?
Polygon Bridge is designed to connect different blockchains with fast and cheap transactions, allowing users to easily transfer tokens back and forth. It also extends the Ethereum ecosystem with powerful tools to help build scalable decentralized applications (DApps).
Polygon Bridge allows users to move tokens from Ethereum ERC20 to Polygon Matic, Polygon’s native token, which is the cheapest way to connect ETH to Polygon.
Related: Polygon Blockchain Explained: A Beginner’s Guide to MATIC
How to connect assets to a polygon
There are two Polygon bridges: the Proof-of-Stake (PoS) bridge, which is the official Matic bridge, and the Plasma bridge.
Both bridges can be used to transfer tokens from Ethereum to Polygon and vice versa, but they differ in their approach to security methods.
PoS Bridge is the most popular and easiest way to transfer ETH and most ERC tokens. It uses the PoS consensus algorithm to secure its network.
Deposits on the PoS Bridge are secured instantly, but withdrawals may take some time to be confirmed. PoS Bridge withdrawals typically take between 45 minutes and 3 hours, while Plasma Bridge can take up to seven days.
Plasma Bridge is more suitable for developers who require a higher level of security. It uses the Ethereum Plasma scaling solution and supports the transfer of MATIC, ETH, ERC-20 and ERC-721 tokens.
Related: Proof-of-Stake and Proof-of-Work: Explaining the Differences
How to use Matic Bridge for Token Bridge
To transfer tokens from Ethereum to Polygon, the first requirement is access to a compatible cryptocurrency wallet such as MetaMask, but other options can be used as shown below.
1. Log in to Polygon Web Wallet by clicking on Polygon Bridge.
2. Next, you need to connect your Ethereum wallet. This example uses a metamask, but you can use other options as shown in the image below.
3. To connect the MetaMask wallet to the Polygon wallet, a digital signature is required. Make sure the URL is correct before clicking “Login” to continue and avoid any scam attempts.
4. To send your tokens from Ethereum to Polygon, go to the “Deposit” tab and click on the desired token you want to connect. Enter the amount and click “Transfer”. Read the notes on the next page and click Next. You will then be asked to agree to the estimated gas fee and click Next.
5. You can check the details of your transaction, such as the amount of the token and the estimated transaction fee, on the next page before completing the process. Then click “Next” to sign and approve the transfer.
6. After confirmation, you can check the status of the transaction on Etherscan.
You can also use Polygon Bridge Matic to perform a reverse transaction to transfer MATIC to Ethereum. Similarly, you need a compatible crypto wallet like MetaMask.
To transfer tokens from Polygon to the Ethereum blockchain via a PoS bridge, follow these steps:
You can view the transaction status on Etherscan. Verification and completion of the transaction by PoS validators can take up to three hours. After verification, you need to receive tokens in your MetaMask wallet. Click “Next” to complete the withdrawal.
How to use the Plasma Bridge at the Range
Plasma bridge can help you MATIC or