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Polygon Announces Polygon Bridge for its Zero-Knowledge Rollup

Polygon Announces Polygon Bridge for its Zero-Knowledge Rollup

Polygon has announced that Polygon Bridge is now available for Polygon zkEVM. This development comes a month after the launch of the zero-knowledge rollup on Mainnet Beta.

Ethereum co-founder Vitalik Buterin performed the symbolic first transaction on Polygon zkEVM Mainnet Beta. Polygon zkEVM Mainnet Beta is designed to be an all-purpose Ethereum scaling protocol, allowing developers to build on it with similar usage to Ethereum, without modifying languages or tooling.

Polygon zkEVM

The official blog post states that Polygon Bridge for zkEVM will feature several improvements that incorporate feedback from the community. These include a more visible progress bar, transaction history, recent transaction panel with color-coded completion status, time estimates for pending transactions, and the ability to filter.

Polygon Bridge for zkEVM is powered by zero-knowledge technology, meaning that it is governed entirely by smart contracts – one on Ethereum and one on Polygon zkEVM. Users will be able to withdraw funds from the Ethereum mainnet within 30-60 minutes, and it will also support ERC-20 tokens and the extended features of ERC-777 tokens.

The launch of Polygon zkEVM eliminates the mapping requirement, which can take hours or even days. The token being bridged will automatically be mapped once a user triggers the bridging transaction, which is being touted as a “major UX improvement” compared to other chains requiring users to map tokens before bridging.

“Permissionless, open-source, and public – anyone can use it to transact and build. An impressive array of teams is already building on the Mainnet Beta, including premier dApps such as Lens and Balancer, blue-chip gaming projects such as Midnight Society and Oath of Peak, and trusted infrastructure providers such as ANKR, Alchemy, Sequence, and The Graph.”

Turning Point in Ethereum Scaling

Since its launch last month, Polygon’s zkEVM has attracted $5.4 million in TVL. Polygon’s zero-knowledge rollup also got a boost from Uniswap, as the proposal to authorize Polygon Labs to deploy the DEX protocol to zkEVM was passed with zero opposition.

Polygon zkEVM deposits have also increased considerably. Quickswap, the leading DEX on the Polygon PoS Chain, and long-time Uniswap rival, Sushi, are both live on the network.

Polygon has shown significant growth this year in terms of developer count and attracting major institutions. Despite this, the company behind the development of the layer 2 blockchain, Polygon Labs, announced slashing its workforce by 20% in February this year.