The Smart Way to Bridge From Solana to Ethereum (ETH)
July 18, 2023
3 min to read
Introduction: Solana andEthereum are two of the most popular open source blockchains where decentralized applications (dApps) have flourished. With the rise of popularity of Ethereum and Solana, so has the demand for bridges that enable assets to flow between them. In this breakdown, we outline the best available options to bridge tokens between Solana (SOL) and Ethereum (ETH).
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal.
Crypto assets are high risk and not regulated. Capital at risk.
How to bridge from Solana to Ethereum (ETH)
Solana to ethereum interoperability is an exciting development in the world of blockchains.
It provides users with the ability to transfer assets between Solana and Ethereum networks seamlessly.
Below we have outlined the best options to bridge between these two blockchains.
1. Bridge from Solana to Ethereum with Allbridge
The first bridging option that we recommend is Allbridge. Allbridge connects EVM chains like Ethereum, Polygon and BSC with non-EVM chains like Solana, Near and Fantom.
Allbridge has bridged over $6.3 billion worth of assets and process transfers in 1-5 minutes with an average bridge fee of $0.5 (0.3%).
1. Visit the Allbridge 2. Connect your Wallet (Phantom, Sollet, Solflare, Exodus). 3. Select FromSolana to Ethereum. 4. Enter the address, the amount and click send and confirm the transaction.
2. Bridge from Solana to Ethereum with Portal Bridge
The second option is to use Portal Bridge (previously known as Wormhole) to transfer assets between Solana and Ethereum.
1. Visit thePortal Bridge. 2. Select Source Solana to Target Ethereum and choose an asset. 3. Connect two wallets on Solana (Phantom, Sollet etc) and Ethereum (MetaMask or WalletConnect) 4. Enter the address, your amount and approve the transaction.
About Solana (SOL)
Solana is an open source, high-performance blockchain platform designed to enable scalability and low transaction costs.
It was developed in 2017 by Solana Labs and is powered by a Proof of History consensus algorithm.
Unlike other blockchains, solana’s consensus mechanism allows it to process up to 10,000 transactions per second with 1000s of validators.
Solana is perfectly suited for enabling DeFi applications that require high transaction throughput.
About Ethereum (ETH)
Ethereum was launched in 2015 by Vitalik Buterin and has since become the world’s second largest cryptocurrency with a market capitalization of $150 billion.
The Ethereum scaling vision is to create a more accessible, secure, and efficient network of decentralized applications.
This has partly been achieved with the transition from Proof-of-Work to Proof-of-Stake.
Additional scaling technologies are being worked on like sharding and layer-2 scaling solutions that moves processing capacity offchain.
Conclusion: Bridging from Solana to Ethereum
Solana to Ethereum bridging enables seamless transfer of assets between two of the biggest blockchains in the world.
Allbridge and Portal Bridge are two popular options that can be used to bridge from Solana to Ethereum.
Allbridge connects EVM chains with non-EVM chains and has bridged over $6B in assets with transfers taking 1-5 minutes and costing on average $0.5 in fees.
Portal Bridge on the other hand (previously Wormhole) allows for the transfer of assets between Solana and Ethereum by connecting two wallets, one on Solana (Phantom, Sollet, etc.) and one on Ethereum (MetaMask).