Biconomy launches Hyphen, an instant cross-chain transaction platform

The system will offer fast value transfers between Ethereum and Polygon, and enable quick onboarding from Layer-1 networks to Layer-2 networks

Biconomy, a multichain relayer network building infrastructure to simplify the web3.0 experience, announced the launch of its Hyphen mainnet on Friday, the company said in a release. Hyphen enables instant and low-cost token transfers across different blockchains.

L2s (secondary frameworks or protocols built on top of existing blockchain systems) have recently seen an exponential increase in demand with several Dapps (decentralised apps) moving to Polygon to obtain faster transactions and cheaper gas fees. However, the user experience moving into and out of Polygon is complicated and time consuming. The launch of Hyphen will allow users to make USDC (USD Coin) transfers