Polygon and Wanchain have formed a strategic partnership to launch a decentralised cross-chain bridge between Layer-2 Ethereum scaling solutions Polygon and Arbitrum.
The bridge is being rolled-out to “cement Polygon’s position as the leading Ethereum scaling and infrastructure” provider and will “complement and enhance” Polygon’s expansive array of scaling solutions that include Polygon Hermez and Polygon PoS.
Through the strategic partnership, Polygon and Wanchain hope to achieve the “shared vision of decentralised blockchain interoperability“, which the duo said can “preserve the value of scaling solutions” and ensure that Layer- 2 blockchains can seamlessly complete transfers from one Layer-2 blockchain to another.
The partnership also marks the first time decentralised liquidity pools are being used to “power cross-chain bridges” – which Wanchain says is “an important milestone” as the blockchain industry moves towards “decentralised cross-chain” smart contracts and functions.
The bridge will use assets from liquidity pools to complete transfers
“We recognised that needing to pass through Ethereum when moving from one Layer 2 to another is self-defeating and completely undermines the improved scalability promised by Polygon,” said Li Ni, Wanchain VP of Business Development and Operations.
“Wanchain’s new Layer 2 bridges preserve the high transaction throughput and low costs of Polygon while remaining efficient, versatile and decentralised.”
Wanchain is a blockchain interoperability solution that connects blockchain networks and enables cross-chain transactions. It currently supports Bitcoin, Ethereum, Binance Smart Chain, Avalanche and Polkadot – with the venture into Layer-2 blockchains such as Polygon and Arbitrum being its first ‘scaling’ integration.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.