With an increasing number of blockchain networks and transactions, a question about how to transfer tokens has become vital for many users. It is a challenging task, but more and more developers are creating unique platforms where you can quickly transfer tokens. One of them allows you to get your Ethereum tokens and send them right to the polygon wallet address.
Read this article to find out what is polygon bridge, important polygon network details, and a step-by-step guide on how to bridge tokens from the Ethereum network to a polygon.
What is a polygon network?
Polygon Network is a decentralized platform based on the Ethereum network for users to develop highly secure dApps with a low transaction fee percentage. Polygon provides an infrastructure facilitating the growth of the web 3.0 apps, with robust security methods.
Polygon smart contracts
A smart contract is a feature broadly used in web 3.0 projects. It is just like an actual contract, but it is automated, fast, and risk-free. It is an essential part of the Ethereum ecosystem, involved in every transaction. And the same as the Ethereum blockchain, a polygon also uses it. Follow this link if you want to examine a polygon smart contract and understand how it works.
What is a polygon bridge?
With smart contracts technology, you can quickly transfer ERC tokens through the polygon bridge on the polygon sidechain. It is primarily done to apply the dApps scaling solution offered by polygon, as it requires you to spend Ethereum tokens. Arbitrary state transitions are also supported.
Such cross-chain transaction is done instantly, avoiding any third-party risks. Moreover, during the token transfer, a bridge utilizes a dual-consensus architecture. Thus every transaction is fast and safe. Transaction status can be found on the website, with essential details. But you should not worry much about them as the exchange rate is 1:1, and it’s instant.
Types of polygon bridge
Polygon bridge has two different types:
- Proof of stake (pos) bridge
Pos bridge deposit tokens from Ethereum wallet to polygon almost without delay, but it might take a few minutes if you withdraw funds. It is built based on the Proof of Stake algorithm, making bridge assets highly safe.
- Plasma bridge transfer.
This type of bridge is used to transfer matic and some Ethereum tokens. Additionally, it utilizes an Ethereum plasma scaling solution to gain additional security.
How to transfer tokens from an Ethereum wallet to polygon: Step-by-step
Bridging assets requires you to go through some basic steps. They include:
- Create a Polygon wallet. Go to the polygon website, follow the instruction to create your wallet, and log in.
- Connect a compatible crypto wallet. You can choose from many of them. For example, you can use a metamask wallet to bridge ETH. When the message will pop up, you will need to sign it. That is a free procedure.
- Look at the left side of the interface, find a “Bridge” section, and enter it.
- Open a deposit tab, where you will need to fill in transaction details. Choose desired token and its amount. Then click a “Transfer” button. Make sure to read all the details, and if you agree, press “Continue.”
- You will see an estimated transaction fee or a gas fee in the next window.
- Examine the details. The following window shows all the essential information about a deal. If you want to cancel the transaction and get your funds back, you will have to wait for at least 3 hours cause of pos validators.
- Sign a transaction. The last step to make a pos bridge work is to sign and approve a transaction on your metamask wallet or any other you use.
So those are the steps needed to transfer Ethereum to polygon. Make sure to follow mentioned steps, and bridging eth will be easy and fast.