The increasing interest in Crypto markets has widened the number of blockchains in the crypto space. With this vast network sharing tokens and data between numerous networks is a task to achieve. Different initiatives are there to create a bridge between networks to help in asset transfer. Polygon Network Token bridge is one such initiative.
Using a polygon bridge network makes the transfer of tokens easy without much inconvenience.
How To Bridge Assets to Polygon
The polygon framework is designed in such a way that it allows the connection of different blockchains. The first step is how you can shift assets to the polygon. These cross-channel transactions between polygon and Ethereum are complete through the polygon bridge. You can transfer non-fungible tokens(NFTs) and ERC tokens to Polygon sidechains using smart contracts. Two types of polygon bridges are for asset shifting.
- Proof Of Stake Bridge (PoS)
- Plasma Bridge
PoS: In proof of stake bridge, as the name indicates, it uses the Pos consensus algorithm to make its network safe. It supports the transfer of ether ETH and other ERC tokens. The main advantage of PoS is that you can deposit your asset without delay, but withdrawal might take some time, from 45 minutes to approximately three hours.
Plasma Bridge: It supports its own token MATIC, ETH, ERC-3- and ERC-721. Again the name suggests, that it uses the Ethereum Plasma scaling solution for enhanced security. Its withdrawal time is approximately seven days, compared to PoS Bridge. This one is more recommended for developers who prefer high security.
How To Use Matic To Bridge Tokens
The first step in transferring assets from Ethereum to Polygon requires a compatible cryptocurrency wallet i.e, Meta Mask. In case you don’t have that wallet, follow the steps to create one.
- Click on Polygon Bridge and log in to the Polygon Web wallet.
- The next step involves connecting your Ethereum wallet. You can connect to Meta Mask, Coinbase, Bitski, Venly, and WalletConnect wallet.
- Once you select the wallet to which you want to connect, a digital signature request will appear.
- Avoid any kind of spam by checking the URL before signing in.
- You will be redirected automatically to the Polygon Bridge interface. In case it does not happen, click on the left menu, and from that menu, select Bridge.
- To transfer tokens from Ethereum to Polygon, click on deposit and then choose Ether and target as Polygon chain. After reading the prompt dialogue box under tag, the important click continue.
- A detail of the transaction, including the transaction fee and the token amount, is given on the next page. Click the Continue tab to authenticate the transfer.
- The status of the transaction is visible on Etherscan.
This Polygon Bridge Matic can also transfer your tokens from MATIC to Ethereum.
How To Use Plasma Bridge On Polygon
Plasma Bridge is more secure for this reason; developer’s prefer it. To transfer tokens using a plasma bridge following steps are followed.
- For instance, if you want to transfer Matic from polygon to Ethereum, use any Ethereum wallet. To start the process, add the Polygon network to your wallet.
- Adding Polygon Network: Connect your wallet and see the option switch on top. An extension message will appear; approve it to proceed further. And to see Matic on your wallet, switch your wallet from Ethereum Mainnet to the Polygon network. So just switch networks to see Matic.
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