Polygon Bridge for zkEVM Allows User to Withdraw from Ethereum

On Wednesday, April 26, Polygon announced that the Polygon PoS Bridge is now available for Polygon zkEVM, whose beta version launched last month. The Polygon zkEVM network offers scalability solutions to decentralized applications (dApps) running on the Ethereum blockchain network.

The Polygon Bridge for Polygon zkEVM will have the same user experience as available in the Polygon PoS mainnet. However, it comes with a number of UX improvements that incorporate the feedback received from the community.

These UX improvements include transaction history, a visible progress bar, and a recent transaction panel with completion status.

The concept of ‘Bridges’ in the crypto space is quite popular as they facilitate the transfer of assets across different blockchain platforms. However, bridges transferred using zk-technology are much better than the regular ones as they are entirely governed by smart contracts, one on the Polygon zkEVM and the other on Ethereum.

Polygon Bridge – Withdrawing Funds from Ethereum

The launch of this Polygon Bridge for Polygon zkEVM will allow users to withdraw funds from the Ethereum mainnet within just 30-60 minutes of initiating the withdrawal. The Polygon Bridge shall be supporting some of the users’ favorite assets such as ERC-20 tokens and the extended features of ERC-777 tokens.

Also, users of the Polygon Bridge won’t have to undergo the bridging process. Soon as the user triggers a bridging transaction, the bridged token will be automatically mapped. Most of the other platform require users to map their tokens before bridging. This could also take hours or even days. Thus, the Polygon Bridge cuts through these hurdles offering users a seamless experience.

The Polygon zkEVM launched last month as mainnet beta is open source, permissionless, and public. Thus, any can build atop it and transact their assets. Some teams have already started building atop the Polygon zkEVM. This includes premier dApps such as Balancer and Lens, and other gaming projects.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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