Multichain infrastructure network Biconomy has reportedly rolled out the Hyphen mainnet – carrying out preparations for the introduction of the instant cost-effective token transfers, throughout Ether-compatible blockchains. 

Specifically, following the official rollout of Hyphen, it will now be possible for users to conduct USD Coin (USDC) transfers between Ethereum Virtual Machine (EVM) compatible chains in an almost-immediate manner, instead of going through the half-an-hour or hours wait time occurring in the existing system. 

Biconomy reportedly has the supporting features to carry out transfers at an enhanced speed, via maintaining and rebalancing token liquidity on both sides of the chain. 

“On 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 […] “More specifically, it currently takes around 40-50 min to get ERC20 tokens from the Polygon Network to Ethereum via their native bridge.” Biconomy’s chief technology officer, Sachin Tomar, reportedly provided an explanation to the current obstacles giving cross-chain transfers hardships. 

From where he is standing, said obstacles will reportedly result in weakened network effects and ultimately lead to an experience with additional difficulty for the users. 

Hyphen, per Tomar, can put an end to the issue, via allowing developers to offer inter-EVM network value transfers, different layer-two solutions and sidechains.

The next versions of the Hyphen network to be introduced down the road will reportedly achieve full decentralization, per Biconomy.