Neon EVM now available on Solana Mainnet

Neon EVM now available on Solana Mainnet

Neon EVM Launches on Solana Mainnet: Bridging the Gap between Ethereum and Solana

During ETHCC23 in Paris on July 17, 2023, Neon EVM made its debut on the Solana Mainnet, marking a significant milestone in the blockchain industry. This launch aims to close the gap between the different programming, computing, and memory models of Ethereum and Solana, providing a low-friction solution for Ethereum Virtual Machine (EVM) dApps to settle on Solana.

The Neon EVM program functions as a smart contract on the Solana blockchain, enabling the processing of wrapped Ethereum-like transactions on Solana. Previously, EVM dApps seeking cost-effective solutions had to resort to rollups or sidechains. However, by utilizing Solana as the settlement layer, EVM dApps can now outcompete these Layer 2 (L2) solutions.

Let’s dive deeper into the advantages of Neon EVM on Solana. On the Ethereum network, the average transaction fee for sending Ether (ETH) is around $2. In comparison, L2 solutions offer fees ranging from $0.5 to $0.1, resulting in savings of 4 to 20 times. However, Solana revolutionizes this landscape by offering an average transaction fee of approximately 0.00001 SOL ($0.0002) per transaction, resulting in savings of 10,000 times compared to Ethereum. Initial tests conducted on the Neon EVM Devnet demonstrate the practical translation of these optimizations.

Marina Guryeva, the Director of Neon Foundation, expresses her excitement about the launch of Neon EVM on the Solana Mainnet, stating, “We are very excited to see Neon EVM live on Solana Mainnet. Once we repeat these tests in production, we will present the figures based on real-world data.”

As Neon EVM takes its place on the Solana Mainnet, the Neon DAO is activated to participate in and influence the future development of Neon EVM.

Introducing Neon EVM

Neon EVM is an Ethereum Virtual Machine operating as a smart contract on the Solana blockchain. It empowers developers to deploy Ethereum dApps directly with minimal code reconfiguration while harnessing Solana’s technical advantages. Neon EVM prioritizes security, decentralization, and sustainability as its core tenets.

To stay connected with Neon EVM and its community, here are some useful links and resources:

  • Twitter and Discord: Join the Neon EVM community for updates and discussions.
  • ChainList: Choose a public RPC endpoint for Neon EVM.
  • Neon EVM Whitepaper: Get a high-level overview of Neon EVM’s technical architecture and features.
  • NeonScan and BlockScout: Explore Neon EVM transactions settled on Solana.
  • IRL: Epic Layer 2 Day: Attend this event dedicated to Ethereum Layer 2 Scaling, featuring researchers, developers, and enthusiasts.

In conclusion, the launch of Neon EVM on the Solana Mainnet is a significant step forward for the blockchain industry. This integration bridges the gap between Ethereum and Solana, providing a low-friction solution for EVM dApps to settle on Solana. With Neon EVM’s technical advantages and cost-efficient transactions, developers can unlock new possibilities and drive innovation in the decentralized application landscape. Stay connected with Neon EVM and be part of this exciting journey towards a more interconnected blockchain ecosystem.

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