In 2021, Neon Labs raised $40 million from Jump Capital, IDEO CoLab, and Solana Capital, etc. The purpose of this coverage was to support his development projects. One of his most important projects: deployment of Ethereum dApps on Solana, will see the light of day before the end of this year.
An update that should benefit Ethereum and Solana
On November 7, Neon Labs announced that it was will deploy its Neon EVM solution on the Solana blockchain. Neon EVM is a technology built on Ethereum. Its deployment on Solana creates a layer of compatibility between the two blockchains. This will allow any developer in the Ethereum ecosystem to install applications on Solana. With Neon EVM, developers will enjoy high throughput and fast processing time on Solana. It will also allow them to have competitive gas prices, without the need for code changes.
Therefore, it will now be possible to make applications developed on Ethereum available on Solana. According to The Block, EVM is the most widely accepted computing standard for developing smart contracts.
“Ethereum is a thriving blockchain ecosystem that has a lot to offer dApps developers and users. This, especially in terms of tools and infrastructure. At the same time, Solana is attractive to many due to its technical characteristics and is considered an emerging market. With Neon EVM, dApp developers will be able to easily access the Solana market and provide a great user experience without any difference in the interface or the tools used.”said Marina Guryeva, development manager at Neon Labs.
At launch, Neon EVM will be run on the Solana testnet. From then on, tools familiar to Ethereum users, including Metamask, Remix, Truffle, and others, will work on Solana. Currently, the developers are working to gradually deploy major Ethereum projects on Neon EVM. These include Aave, Curve and Sobal.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.
