• Neon Labs EVM enables Ethereum-based crypto projects to run on Solana
• EVM will be launched on December 12, 2022
• Neon Labs CEO: “The Neon EVM combines the best of two worlds: Ethereum and Solana”
Ethereum Virtual Machine
The Ethereum Virtual Machine (EMV) is an on-chain solution from software startup Neon Labs that enables developers to build Ethereum dApps on the Solana network while taking advantage of the Solana network. As the company explains on its website, the main focus is on security, decentralization and sustainability. But how exactly does this on-chain solution work? The Neon transactions of the Ethereum dApps are wrapped into a Solana transaction by the EVM. “Neon EVM is a smart contract on Solana that acts as an Ethereum virtual machine. It is compiled into Berkeley Packet Filter bytecode, a format that runs on Solana. This allows Neon EVM to receive Solana transactions that contain packaged Ethereum-like transactions and process them on Solana according to Ethereum rules,” according to the company.
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EVM will be launched later this year
According to a tweet, the software startup plans to open its gateway for Ethereum-based crypto projects later this year. On December 12th, Neon Labs is scheduled to launch its EVM for Solana.
?1/ Mission Accomplished!?
We are excited to announce that the Neon EVM will go LIVE on MAINNET 12/12/22, making it the first #EVM on @Solana!#Ethereum-based dApps will have access to Solana’s scalability & liquidity without change to the codebase!?https://t.co/l3GAwpgqCJ
– neon | 12.12 ? (@neonlabsorg) November 7, 2022
A major benefit of this introduction to Solana is that Ethereum-based projects will be able to run on Solana without having to laboriously change their code base. “The Neon EVM brings together the best of two worlds: Ethereum and Solana. In doing so, we are debunking the Ethereum killer narrative once and for all. Ethereum-based projects can, for the first time, leverage the previously inaccessible audience and liquidity of Solana, without having to rewrite their Ethereum code in Rust. The result: Solana users can now enjoy an improved user experience on the blockchain without having to give up Ethereum’s already extensively tested dApps,” says founder and CEO Marina Guryeva according to a press release from the startup.
E. Schmal / Editor finanzen.net
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