Celer Network Integrates Polygon zkEVM on cBridge for Faster Asset Bridging

04/20/2023 01:08 • Digital Disruptors • 82 views

On April 20, it was reported that Celer Network, a cross chain interoperability protocol, announced that its cBridge for asset bridging has integrated Polygon zkEVM. It initially supported ETH cross chain bridging between Polygon zkEVM and Ethereum, Arbitrum, Optimism and BNBChain, Polygon, Avalanche and Fantom. At present, the size of the new ETH liquidity pool on cBridge is limited to 100 ETHs.

Cross chain interoperability protocol Celer has supported Polygon zkEVM

On April 20, Celer Network, a cross chain interoperability protocol, made an exciting announcement. The protocol has integrated Polygon zkEVM on its cBridge for asset bridging, supporting Instant, low-cost and cross-EVM-chain asset bridging across multiple chains.

What is Celer Network?

Celer Network is a blockchain ecosystem that is designed for off-chain scaling of DApps. They enable fast, low-cost, and user-centric blockchain applications. They provide the infrastructure necessary for building scalable DApps.

What is Polygon?

Polygon, formerly known as Matic Network, is a Layer 2 scaling solution for Ethereum. It offers faster and cheaper transactions compared to Ethereum with higher throughput. Polygon is compatible with Ethereum and supports smart contracts and decentralized applications (dApps).

What is zkEVM?

zkEVM stands for zero-knowledge execution environment. The protocol enables gasless transaction validation by offering a layer of privacy for transactions. The layer is mitigated through multiple smart contracts deployed on the Ethereum platform.

About The Integration of Polygon zkEVM on cBridge

Celer Network is the first in the industry to integrate Polygon zkEVM with the asset bridging protocol, cBridge. The integration initially supported ETH cross chain bridging between Polygon zkEVM and Ethereum, Arbitrum, Optimism, and BNBChain, Polygon, Avalanche, and Fantom. With the integration of zkEVM, Celer Network aims to provide a faster and more efficient cross-chain bridge, enabling secure asset transfers across multiple chains.
As of now, the size of the new ETH liquidity pool on cBridge is limited to 100 ETHs. The integration opens up many possibilities for cross-chain interoperability with higher scalability and security.

Benefits of the Integration

The integration of Polygon zkEVM on cBridge provides several benefits:

Faster Transaction Speeds

Polygon’s Layer 2 scalability solutions and zkEVM’s efficient gasless transaction validation will make the cross-chain bridging faster and more efficient.

Lower Transaction Costs

Polygon’s lower transaction fees will make cross-chain asset bridging accessible and affordable for a larger group of users.

Enhanced Security

zkEVM’s layer of privacy adds an extra layer of security to cross-chain asset transfers resulting in enhanced security for cross-chain protocols.

Conclusion

The integration of Polygon zkEVM on cBridge is a significant milestone for the future of cross-chain interoperability. It provides faster transaction times, lower transaction fees, and enhanced security, making it an attractive proposition for users who require cross-chain transfers. Celer Network’s integration is set to revolutionize the industry by making it more accessible and reliable for everyone.

FAQs

1. What is cBridge?

cBridge is an asset bridging protocol that allows for secure and fast cross-chain asset transfers between compatible chains.

2. What makes Celer Network unique?

Celer Network is unique as it enables fast, low-cost, and user-centric blockchain applications. Their network is designed for off-chain scaling of DApps.

3. What is the significance of zkEVM?

zkEVM brings enhanced privacy and security to cross-chain transfers by offering gasless transaction validation through multiple smart contracts deployed on the Ethereum platform.

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