1. PixelPlaygroundHome
  2. Blockchain Briefs

Orbiter Finance has integrated the Polygon zkEVM network

• Blockchain Briefs • 110 views

On March 28th, it was announced that Layer 2 has integrated the Polygon zkEVM network across the Rollup bridge, Orbiter Finance, allowing users to transfer assets across the chain

Orbiter Finance has integrated the Polygon zkEVM network

On March 28th, it was announced that Layer 2 has integrated the Polygon zkEVM network across the Rollup bridge, Orbiter Finance, allowing users to transfer assets across the chain between Polygon zkEVM and other supported networks.

Orbiter Finance has integrated the Polygon zkEVM network

| Heading | Subheading |
| — | — |
| Introduction | What is Layer 2 and Polygon zkEVM network |
| Integration of Layer 2 and Polygon zkEVM network | Benefits of the integration |
| Orbiter Finance | How does it work |
| Asset Transfer Across the Chain | Steps to transfer assets |
| Conclusion | Importance of the integration and its impact |
# Article Table:
# On March 28th, Layer 2 and Polygon zkEVM integration announced

Introduction:

The cryptocurrency market has been evolving at an unprecedented pace, driven by Blockchain technology. Layer 2 solutions are emerging to support Blockchain scalability by providing faster and cheaper transactions. Polygon, previously known as Matic, is one such Layer 2 solution that allows faster and cheaper transactions. Recently, Polygon zkEVM was integrated into the Layer 2 platform, creating new opportunities for cryptocurrency enthusiasts.

Integration of Layer 2 and Polygon zkEVM network:

Layer 2 platforms such as Rollup facilitate faster and cheaper transactions on the Ethereum network by aggregating them. However, the cost of sending tokens on Layer 2 back to Ethereum Layer 1 is often high. The Solution for this issue is to use Polygon zkEVM, a Layer 2 scaling solution build on Ethereum, instead of Ethereum Layer 1.
Polygon is a multi-chain solution that supports many high throughput Layer 2 chains. Layer 2 integration with Polygon zkEVM now provides users with the option to move assets between the L2 solution and different supported networks such as Ethereum.

Orbiter Finance:

Orbiter Finance is an open-source, community-governed cross-chain aggregator built on Layer 2 Rollup technology. It is designed to facilitate cryptocurrency transfer across various networks. As a user-friendly platform, it provides a seamless experience for users to transfer multiple assets at a cheaper cost and faster transaction time.

Asset Transfer Across the Chain:

To transfer assets across different chains using Orbiter Finance, users need to connect their wallets to the platform. The Orbiter Finance platform will guide them through the necessary steps needed to make successful transfers.
The Orbiter Finance platform enables users to cross-connect assets from different networks such as Polygon, Ethereum, Binance Smart Chain, Polkadot, and more. The platform also provides users with options to leverage yield farming opportunities for the assets they hold.

Conclusion:

The integration of Layer 2 and Polygon zkEVM network is a significant development for the cryptocurrency community. The combined platform provides faster transaction time and cheaper transaction fees than Ethereum Layer 1. This development expands the scope of decentralized liquidity pooling services and makes the DeFi world more accessible to a broader audience.

FAQs:

1. What is Layer 2?
Layer 2 is a scaling solution built on top of the existing Blockchain network. It allows faster and cheaper transactions than the Blockchain network.
2. What is Polygon zkEVM?
Polygon zkEVM is a Layer 2 scaling solution built on the Ethereum network.
3. What is Rollup technology?
Rollup is a Layer 2 scaling solution that aggregates Ethereum transactions, allowing for faster and cheaper transactions.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/10851/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/28/2023 11:27
Next 03/28/2023 11:56

Recommended articles