Celer Network Integration with Polygon zkEVM: A Major Step Towards Cross Chain Interoperability

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

The world of blockchain and cryptocurrencies is evolving at an unprecedented pace. As the number of blockchain networks continues to grow, the ability to connect these networks seamlessly becomes crucial to enable interoperability. Celer Network, a cross-chain interoperability protocol, has taken a massive step in this direction. On April 20, the company announced the integration of its cBridge for asset bridging with Polygon zkEVM.

What is Celer Network?

Celer Network is a Layer 2 scaling solution that aims to solve the scalability and speed issues faced by blockchain networks. It is built on the Ethereum blockchain and utilizes state channels to enable off-chain computations. The network allows for fast, low-cost, and secure transactions within seconds.

What is Polygon zkEVM?

Polygon zkEVM is a scaling solution by Polygon that incorporates zero-knowledge proofs to enable fast, cheap, and secure transactions with Ethereum Virtual Machine (EVM) compatibility. By integrating with Ethereum, Polygon zkEVM enhances the capabilities of the Ethereum blockchain by reducing the transaction fees and speeding up the transaction times.

cBridge Integration with Polygon zkEVM

The integration of cBridge with Polygon zkEVM marks a major step towards cross-chain interoperability. The cBridge protocol enables seamless asset bridging between various blockchain networks. By integrating with Polygon zkEVM, cBridge has expanded its interoperability capabilities beyond the previously supported networks. Now, cBridge supports asset bridging between Polygon zkEVM and Ethereum, Arbitrum, Optimism, BNBChain, Polygon, Avalanche, and Fantom.

Benefits of cBridge Integration with Polygon zkEVM

The integration of cBridge with Polygon zkEVM provides several advantages for the blockchain ecosystem.

Faster Transactions and Lower Fees

By utilizing the zero-knowledge proofs of Polygon zkEVM, the integration enables faster, cheaper, and more secure transactions for users. The reduced transaction fees will encourage more affordable transactions, making blockchain technology accessible to a more extensive user base.

Enhanced Interoperability

The integration of cBridge with Polygon zkEVM provides a crucial link between various blockchain networks. It enables seamless asset bridging between Polygon zkEVM and previously unsupported networks like BNBChain, Avalanche, and Fantom, among others. The enhanced interoperability capabilities provide more flexibility and increase the scope of decentralized applications built on these networks.

Increased Liquidity

The integration of Polygon zkEVM with cBridge has resulted in the creation of a new ETH liquidity pool on cBridge. However, currently, the size of the liquidity pool is limited to 100 ETHs. Nevertheless, this integration paves the way for the formation of more significant liquidity pools and increased trading volumes, enhancing the overall liquidity of the blockchain ecosystem.

Conclusion

The integration of cBridge with Polygon zkEVM marks a significant milestone in the blockchain ecosystem. It shows that the industry is moving towards more interconnectedness, bridging the gap between various blockchain networks. As the number of blockchain networks continues to grow, the integration of interoperability protocols like cBridge will become increasingly crucial. It will enable a more extensive use of blockchain technology and enhance the capabilities of decentralized applications.

FAQs

Q1. Why is cross-chain interoperability important in the blockchain ecosystem?

Cross-chain interoperability is essential because it enables seamless communication and asset transfer between different blockchain networks. It reduces silos and promotes a more open and interconnected blockchain ecosystem, leading to increased adoption and further innovation.

Q2. What is the significance of the integration of cBridge with Polygon zkEVM?

The integration of cBridge with Polygon zkEVM provides enhanced interoperability, faster transactions, lower fees, and increased liquidity in the blockchain ecosystem. It signifies a step towards increased interconnectedness and smoother asset bridging between various blockchain networks.

Q3. What is Polygon zkEVM?

Polygon zkEVM is a scaling solution by Polygon that utilizes zero-knowledge proofs to enable fast, cheap, and secure transactions with Ethereum Virtual Machine (EVM) compatibility. It enhances the capabilities of the Ethereum blockchain by reducing the transaction fees and speeding up the transaction times.