Neon Labs, a company that builds secure blockchain solutions, announced today that it will deploy its cross-chain EVM solution on the blockchain. Solana Testnet. This Neon EVM Any dApp in the Ethereum ecosystem will be granted access to high throughput and lower gas prices without changing the code.
Neon EVM creates a compatibility layer for Ethereum on the Solana blockchain. This allows anyone to run Ethereum contracts on Solana. It works by introducing incentive Neon EVM operators into the Solana blockchain; who will facilitate transactions on behalf of Ethereum dApp users.
These operators receive Ethereum-like transactions from dApps that use Neon EVM. They are then packaged into Solana transactions, and these transactions are sent to the Solana blockchain for execution.
“Ethereum is a thriving blockchain ecosystem that can provide dApp developers and users with a lot of things in terms of tools and infrastructure. At the same time, Solana is attractive to many people due to its technical characteristics; and is regarded as Emerging markets. With Neon EVM, dApp developers will be able to easily enter the Solana market and provide users with an excellent experience without any difference in the interface or tools used.”
– Marina Guryeva, CEO of Neon Lab
When it is released, Neon EVM will run on the Solana testnet; at this time, the tools familiar to Ethereum users include Metamask, Remix, Truffle, etc., will run on Solana.
Once launched on the testnet, Neon EVM will allow any dApp to be used on Solana (including UniSwap, SushiSwap, 0x, MakerDAO, etc.).
Subsequently, Neon EVM will be transferred to the Solana mainnet in the third quarter of 2021. Prior to this, the number of transactions and execution speed will be optimized.
“The Neon team has shown dedication to the development of Solana and the Ethereum ecosystem. Its deployment on the Solana blockchain will make it easier for EVM projects to take advantage of Solana’s low cost, super fast speed, and future-oriented scalability Neon’s EVM scaling solution is an important milestone and represents a commitment to the future of multi-chain.”
– Anatoly Yakovenko, CEO of Solana
With the introduction of EVM, Neon will move to more trustless solutions.Learn more about Neon EVM or participate in the testnet click here.