How to transfer cryptocurrencies from Polygon ZkEVM to other blockchains: native bridge and external protocols

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In this article we look at how to transfer crypto assets from the Polygon ZkEVM network, Ethereum’s layer-2 solution, to other blockchains using the native bridge platform and other third-party applications.

Native bridging involves depositing ETH or other cryptocurrencies compulsorily from the Ethereum network to the Polygon rollup network.

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With external protocols, on the other hand, we can freely go through other chains performing transactions almost always faster and cheaper, but at the cost of less data security.

The latter, in fact, add increased counterparty risk because we are going to entrust an entity not controlled by Polygon with the task of transferring assets from one network to another.

Hence, which is the best option to choose? Let’s look at it below.

What is Polygon zkEVM?

Polygon zkEVM is an Ethereum layer-2 of the ZK-rollup type that offers fast, cheap and secure transactions.

Zero-knowledge technology is combined with the robustness of Ethereum to achieve a highly efficient network with a focus on stability and EVM compatibility.

Transactions executed on the zk network pass through Ethereum, but are confirmed off-chain to allow high throughput at low cost.

Developers of protocols built on the Polygon-branded layer-2 have an advantage over the rest of the blockchain landscape because they can boast of the Ethereum virtual machine compatibility factor that allows for maximum interoperability between parties.

On the bridge front, this factor allows users to easily transfer assets from one chain to another without special arrangements. The same goes for those who want to migrate their dapp without having to entirely rewrite the code with different languages.

The cryptographic asset used as a gas token in the network is currently ETH, but not in the future this privilege is expected to pass to POL (ex-MATIC) upon completion of its integration process.

The Polygon ZkEVM infrastructure was launched in March 2023 and can already count on a locked-in value within it of about $100 million.

The next-generation chain was created with the intention of meeting the growing demand for decentralized applications and users in the Web3 world, and it has already achieved its small success by ranking within the top10 rollups for TVL according to L2Beat.

If you would like to discuss this further, all of Polygon ZKEVM’s core principles and the ecosystem roadmap version 2.0 roadmap were published in a recent Polygon Labs blog post

https://twitter.com/0xPolygonLabs/status/1668312616459030528?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank

Polygon Bridge: native cross-chain transfer between Polygon ZkEVM to other blockchains

The first way to transfer crypto from Polygon ZkEVM to other blockchains is to use the decentralized infrastructure’s native bridge.

In fact, the Polygon team has provided its own platform to allow users to deposit ETH and other assets within the new network, without going through external applications.

As anticipated, the native bridge only supports the Ethereum blockchain and hence only allows cross-chain operations of ERC-20 tokens, such as ETH, USDT, USDC, DAI, MATIC, AAVE, LINK, WBTC, etc.

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All this results in significantly above-average fees and waiting time costs compared to other more scalable L2s and L1s.

 In any case, this is the safest and most efficient solution to land on the Polygon ZkEVM and the one definitely to be preferred in case large volumes move.

The Polygon Bridge is available from this site: to use it simply connect your non-custodial wallet (Metamask, TrustWallet, Zerion, Rainbow), select the token you want to transfer, select the quantity and click on “start bridging.”

The transaction requires confirmation of the smart contract and payment of a fee of about $10-12 according to current gas prices on Ethereum. 

To withdraw funds from the ZK network, the process is essentially the same, with the only catch being that the networks must be reversed for transfer using the appropriate symbol in the center of the bridge.

Other third-party bridges

As mentioned, there are also several third-party bridges that serve as alternative platforms for moving our crypto to and from the Polygon ZkEVM network.

These bridges offer the ability to go through different infrastructures choosing the one most convenient for our operation, often paying lower fees and with minimal waiting times.  

Hence, unlike the Polygon Bridge, here we can enjoy the wide choice offered by the blockchain landscape such as Arbitrum, Optimism, BNB Chain, Starknet, ZkSync, Linea, Immutable, Polygon chain, Avalanche, Base, and many others.

Of course, this advantage is offset with a downside: all these third-party services in fact, although they are a faster and more immediate option in cross-chain exchanges, present far higher structural risks than native bridges.

By using them you are automatically going to entrust your assets to services that have nothing to do with Polygon and Ethereum, and that may have flaws on the security front. You are essentially going to increase counterparty risk.

People usually choose these more flexible solutions when they want to bridging small amounts .

Among the most well-known and reliable third-party protocols in this field are Orbiter Finance, Layerswap, XY Finance, and Celer Bridge.

Each has small peculiarities such as supporting a specific chain, allowing transfers with a particular token, or integrating support for transfers from CEX.

Either way, they all work similarly to the native bridge: to use you then need to connect your wallet, select a coin to transfer, type in the amount, and click the button to start the transaction

You can find references to these platforms, and other niche services, directly on the Polygon Bridge page under “Third.Party Bridges.”

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Author: coinmaker

kryptonew

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