Blockchain bridging is creating a connection between two or more separate blockchains. It allows the transfer of crypto assets, smart contracts, and data across blockchains. While there are many different applications available that can allow you to create a bridge connection between two different blockchains, we will look into one particular example where you can establish a connection between Ethereum and Polygon blockchain, and look at the salient features of the bridging process. But first, let us take a look at the blockchain technologies involved in the process and why was there a need to establish a blockchain bridge in the first place.
Ethereum Network:
The Ethereum network has been known to help developers by enabling them to build decentralized applications also known as dApps on its blockchain. The network uses its native cryptocurrency Ethereum (ETH) as both its native currency and the utility token needed to execute smart contracts. Ethereum follows the core principles of blockchain technology, meaning that it is a decentralized network that doesn’t rely on a central figure to carry out its operations smoothly. Like any other blockchain network, it relies on a global network of nodes to validate and record transactions. Ethereum was working on a proof-of-work (PoW) consensus method but has now since upgraded to a proof-of-stake (PoS) network.
Polygon Network:
The Polygon network, which was previously known as the Matic network, is a layer 2 scaling solution built on top of the Ethereum blockchain. The Polygon network was designed to address the problems like Ethereum’s scalability and transaction cost issues. The way this was achieved by the Polygon network was by offering frameworks that allowed interoperability and scalable blockchains. Polygon provides a secure and efficient environment for developers to create dApps while benefiting from the security and decentralization of Ethereum. It introduces various components, such as the Polygon PoS (Proof of Stake) chain and sidechains, to achieve faster transaction processing.
The main reason why the Polygon network is a preferred option to be bridged with the Ethereum network is that the Polygon network allows for faster and cost-effective transactions while maintaining connectivity with the Ethereum network. It has become the go-to blockchain network for DeFi, Blockchain Gaming, NFTs, and other applications.
How to Bridge your Ethereum Wallet to Polygon Network?
While several crypto wallets allow you to establish a bridge with other networks. We will look at the scenario where you have to connect your MetaMask wallet with a polygon network. The MetaMask wallet is the preferred candidate because it provides an easy setup process and support for various Ethereum-based tokens and NFTs.
Choose a Wallet App:
We have already established that the wallet software that we are using for this process is the MetaMask wallet.
Setup your MetaMask Wallet:
Once you have downloaded the wallet app on your device or using the extension provided by the company on your web browser, sign up for your wallet app. The signup process is simple. All you have to do is set up a password for your wallet app. Once the password is set you will be able to login to the homepage of the app.
Select your Preferred Network:
Once you have “Logged In” to the wallet app, search for the “Settings Button” on the screen. Tap on the settings button and a new window will pop up where you will search for the “Networks” Option. After clicking on the Network button a new window will open where you will see a list of available networks. If the Polygon Network isn’t visible on this list then you can add it by pressing the “Add Network” button. A new list will appear where you can either see the “Polygon Mainnet” option visible or you can search for it by entering the Polygon name in the “Search Bar”.
Once the network name is visible tap on it and you can tap on it and another window will open where you will be asked if you want to “Add This Network”. Tap on the “Approve” button and you will be connected to the polygon network. There is a second option which you can choose to add the polygon network. Back where you have searched the polygon network in the list of popular available networks you can select the other option which is to add a “Custom Network”. There you can fill out the required details like Network Name, RPC URL, Chain ID, Symbol, and Block Explorer URL. After filling out these details and clicking on the “Add” button you will be connected to your preferred polygon network.
The inputs that you can add in the Custom Network tab can be:
- Network Name: Polygon
- New RPC URL (Choose one of the following):
- https://polygon-rpc.com
- https://rpc-mainnet.matic.network
- https://rpc-mainnet.maticvigil.com
- https://rpc-mainnet.matic.quiknode.pro
- Chain ID: 137
- Symbol: MATIC
- Block Explorer URL: https://polygonscan.com
Go back to Homepage:
Once you have added the Polygon Network. Return to the homepage of the wallet app. You will see that you have established a successful connection if the Matic Token is shown as the default standard token on the homepage of your wallet app instead of Ethereum and a Box appears at the bottom of your screen that displays the message that “Polygon was successfully added”.
Add Funds to your Account:
To transfer funds from your MetaMask wallet app to the Polygon network you need to first have some capital in your account, particularly Ethereum or Matic tokens that you can send using the bridged network. Go to the “Deposit” tab and click on the required token you want to bridge. Enter the amount and tap “Transfer”. You will need to agree on the estimated “Gas Fees” and then tap “Continue”. Before completing the transfer, you can view your transaction details and if you feel that everything is in order then tap on the “Sign” button and approve the transfer.
How long does it take to bridge ETH to Polygon?
The time required to bridge the Ethereum Network to the Polygon Network may vary due to the contribution of different factors. The time required to bridge these networks depends on many factors including network congestion and the specific bridge you are using.
When you start the process of bridging on the Ethereum Mainnet, it needs to be confirmed first by the Ethereum miners. The Ethereum block confirmation can take anywhere from a few minutes to several hours to complete, depending on the Network Congestion and the Gas Fee you have agreed with the network. If you choose a higher gas fee then your transaction will likely be processed quickly. Selecting a low gas fee means that you will have to wait longer before your transaction is put through the bridged network.
After the transaction is confirmed from the Ethereum Network, you will need to wait for the Polygon network to process your transaction request. Polygon network usually performs this task quickly, taking just a few minutes to complete this process.
Ever since NFTs and DeFi have become popular, the Ethereum gas fees have become a cause of concern due to network congestion. Layer-2 systems, like Polygon, were created to address these issues by providing a faster and more scalable solution on top of Ethereum.
So, the process of bridging Ethereum to Polygon can vary from a few minutes to several hours depending upon the factors we have stated above. The interface on your wallet app also gives you an estimated time of completion of the bridging process. It all depends upon how large of the sum you are willing to pay in gas fees and how much traffic is on the network at a given time.
Why is it Necessary to Bridge 2 Blockchain Networks?
Bridging two blockchain networks solves several problems for users who want to transfer crypto from one network to another. Blockchain networks like Ethereum, due to high network traffic face scalability issues, meaning that it causes slow transaction processes which as a result causes high gas fees. Bridging takes some of the strain away from the Ethereum Network, which improves scalability and reduces network congestion.
Bridging also allows a smooth transition of assets and data from one blockchain network to the other. Different blockchain networks have different sets of protocols, so the process of bridging allows these networks to operate with each other smoothly. Bridging can significantly reduce transaction costs. Using a bridge to move assets from a high-fee blockchain to a lower-fee one can save users and developers money, making blockchain technology more accessible and cost-effective. Bridging can also help in improving security. By utilizing the security of a larger, more established blockchain like Ethereum or Polygon and connecting it to other networks, the risks associated with smaller or less secure blockchains can be avoided.
