Polygon Labs’ new bridge powered by zero knowledge technology aims to be a quicker and more efficient way for users to transact within the rollup.
In an announcement on Wednesday, the entity behind the Layer 2 blockchain announced the bridge to Polygon zkEVM that supports fast finality of transactions and more assets and eliminates the need for token mapping.
Introducing Polygon Bridge to Polygon #zkEVM
👉🏽 Better Bridge
👉🏽 Fast Finality
👉🏽 Asset Support
👉🏽 No Mapping Required
— Polygon (@0xPolygon) April 26, 2023
“Bridges powered by zero knowledge technology are simply better than those powered with other technology because they are governed entirely by smart contracts: one on Ethereum and one on Polygon zkEVM,” said Polygon in a statement.
The bridge will enable users to execute a withdrawal on Ethereum within 30 to 60 minutes, provided network conditions are normal. It will also support new tokens, including those that follow the ERC-20 standard and the extended features of ERC-777 tokens.
Other blockchain bridges require users to manually map tokens, which can sometimes be an hours-long process that could even extend to days. Polygon claims that its zkEVM bridge would automatically map user assets being bridged once the transaction has been triggered.
After several months of testing, Polygon launched its zkEVM network on March 27, with Ethereum co-founder Vitlalik Buterin executing the first transaction with a signed message.
The network’s user base grew by 300% in the month of April and developers deployed twice as many contracts over the same period, according to monthly metrics shared by Polygon.
In April, the daily avg gas on Polygon #zkEVM was 7X cheaper than Ethereum Mainnet, even during periods of peak network activity.
Want to know which growth metrics were +300% this month?
Follow the thread👇🏽 pic.twitter.com/9A3R4I9yiA
— Polygon (@0xPolygon) April 27, 2023