In 2021, Neon Labs raised $40 million from Jump Capital, IDEO CoLab, and Solana Capital, etc. The objective was for this envelope to support its development projects. One of its most important projects: the 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 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 mount applications on Solana. With Neon EVM, developers will have high throughput and fast processing time on Solana. It will also allow them to have competitive gas prices, without requiring code changes.
Thus, it will now be possible to make applications developed on Ethereum available on Solana. According to The BlockEVM has become the most widely adopted computing standard for the development of 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 perceived as an emerging market. With Neon EVM, dApp developers will be able to easily access the Solana Marketplace and provide users with an exceptional experience without any difference in terms of interface or tools used”said Marina Guryeva, a development manager at Neon Labs.
At launch, Neon EVM will 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 large Ethereum projects on Neon EVM. Among these are Aave, Curve and Sobal.
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