{"id":320686,"date":"2021-08-10T20:05:00","date_gmt":"2021-08-10T17:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biconomys-hyphen-enables-low-cost-transfers-between-ethereum-and-polychain\/"},"modified":"2021-08-10T20:05:00","modified_gmt":"2021-08-10T17:05:00","slug":"biconomys-hyphen-enables-low-cost-transfers-between-ethereum-and-polychain","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biconomys-hyphen-enables-low-cost-transfers-between-ethereum-and-polychain\/","title":{"rendered":"# Biconomy\u2019s Hyphen enables low-cost transfers between Ethereum and Polychain"},"content":{"rendered":"

“# Biconomy\u2019s Hyphen enables low-cost transfers between Ethereum and Polychain <\/strong>”
\n<\/p>\n

Multichain infrastructure network Biconomy has formally launched its Hyphen mainnet, setting the stage for instant low-cost token transfers across blockchains like Ethereum\u00a0and Polygon.\u00a0<\/p>\n

With the launch of Hyphen, users can make near-instantaneous USD Coin (USDC) transfers between Ethereum and Polygon rather than waiting 30 minutes or hours, as is currently the case with transfers. Biconomy can facilitate speedy transfers by maintaining and rebalancing token liquidity on both sides of the chain, the company said Tuesday. <\/p>\n

Biconomy\u2019s chief technology<\/a> officer, Sachin Tomar,\u00a0explained<\/a>\u00a0the existing challenges facing cross-chain transfers:<\/p>\n

\u201cOn average, to transfer funds from Layer1 to Layer2 blockchains, it can take anywhere from 40-min to 7-days for users to receive their funds […] \u201cMore specifically, it currently takes around 40-50 min to get ERC20 tokens from the Polygon Network to Ethereum via their native bridge.\u201d<\/p><\/blockquote>\n

In his view, these challenges lead to weakened network effects and result in a more difficult experience for the user. \u201cHyphen solves that problem,\u201d he said, by enabling developers to offer value transfers between Ethereum Virtual Machine networks, various layer-two solutions and sidechains.<\/p>\n

Future iterations of the Hyphen network will be completely decentralized, Biconomy said<\/a> in a Twitter<\/a> post.<\/p>\n

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As we build & improve Hyphen further, we are going to completely decentralize the infrastructure across all the supported networks. <\/p>\n

Very soon, anyone would be able to provide liquidity, act as nodes, and contribute to the protocol!<\/p>\n

Stay tuned for more info!<\/p>\n

\u2014 Biconomy (@biconomy) August 10, 2021<\/a><\/p><\/blockquote>\n