This is a guest post from Temujin Louie, VP of Marketing and Growth at Wanchain. All opinions shared here are his.
Undoubtedly Ethereum is one of the most important blockchain networks in the world. Ethereum continues to play a significant role in shaping the future of the industry. It’s known as the birthplace of smart contracts and decentralised applications. In fact, Ethereum remains the de facto choice for many blockchain projects. That’s due to the network’s unmatched developer community and user base.
However, Ethereum’s incredible popularity has proven to be a double-edged sword. Ethereum has introduced millions of new users to the potential of Web3. Yet, this unprecedented demand has put pressure on the network’s capacity, resulting in slow transaction times and high fees. This has given rise to several sidechains and Layer 2 networks. Their goal is to lower the Ethereum network’s load by processing transactions off-chain before settling them on-chain. These secondary networks are built on top of the Ethereum blockchain and inherit the mainnet’s security apparatus. Networks like Arbitrum, Optimism, and Polygon.
Bridging from ETH to its Layer 2s
Arbitrum, Optimism, and Polygon are separate networks that operate independently from Ethereum. You cannot do a direct transfer of ETH and other Ethereum-based assets to these networks without the use of bridges. As such, Arbitrum, Optimism, and Polygon each offer an in-house bridge to Ethereum. Unfortunately, these in-house bridges have several shortcomings that limit their usability. Namely:
- They are slow.
- They are expensive.
And they do not allow for transfers between the various Ethereum Sidechains and Layer 2 networks. It’s like driving in a city that only has one-way streets. You can’t go from Arbitrum to Polygon without going through Ethereum first. And it’s not necessary.
Arbitrum, Optimism, and Polygon emerged to address Ethereum’s shortcomings. And like them, third parties have also emerged to improve these in-house bridges. The fastest, cheapest, and most secure of these is without doubt Wanchain’s ETH XFlows.
A better way to bridge: ETH XFlows by Wanchain
ETH XFlows is a decentralised cross-chain solution that enables native-to-native cross-chain transfers between blockchains. This includes networks that settle transactions on Ethereum. In other words, where native ETH is. It leverages the power of Wanchain’s cross-chain bridges to
- provide fast, easy, and cheap non-custodial ETH transfers between chains
- And without the need for centralised exchanges or wrapped tokens.
In other words, when using ETH XFlows to move native ETH between chains, the user always receives native ETH on the destination chain.
ETH XFlows is currently live on Ethereum, Arbitrum, Optimism, and Polygon.
ETH XFlows vs in-house bridges
Here is how Wanchain’s ETH XFlows compares to the in-house bridges on speed and cost.
Wanchain’s ETH XFlows is the best combination of speed and cost, outperforming the in-house options in every route, all without sacrificing decentralisation.
Arbitrum, Optimism, and Polygon’s in-house bridges allow users to move ETH to-and-from Ethereum. But that’s all. They won’t let you connect to the various sidechains and Layer 2 networks. This is understandable as each is motivated to promote the usage of their own Ethereum scalability solution.
Wanchain’s ETH XFlows is not bound by these conflicting motivations. Our motivation and design are only to maximize benefits to users. As such, ETH XFlows also supports direct transfers between Arbitrum, Optimism, and Polygon.
Wanchain’s ETH XFlows is the best choice for people looking to move their ETH to, from, and between Ethereum, Arbitrum, Optimism, and Polygon! It’s fast, cheap, decentralized, and seamless. And Wanchain is non-custodial too. It is the perfect tool to take advantage of the best Web3 opportunities on all networks.
So why wait? Try ETH XFlows today at bridge.wanchain.org
Note: All transaction benchmarks were recorded on April 10, 2023.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s Free. Click the link and join the conversation today.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Wanchain. Copyright Altcoin Buzz Pte Ltd.
