Blockchain-focused company Neon Labs announced on Monday the mainnet launch of its Neon Ethereum Virtual Machine (EVM) on the layer-1 blockchain network Solana. The integration will allow Ethereum developers to seamlessly deploy their projects on the Solana network.
Neon EVM Onboards Ethereum-based Projects
Ethereum Virtual Machine is a program that allows developers to create smart contract-enabled decentralized applications (dApps) and deploy them on compatible platforms. Without an EVM, a project wanting to deploy Ethereum-based projects on other blockchains will tweak the code to fit the new ecosystem.
However, the EVM solution allows developers to deploy projects on other EVM-compatible blockchains.
Neon EVM comes as an EVM solution that blurs the gap between the Ethereum and Solana networks. The development is the first of its kind on the Solana mainnet. The team noted in its latest announcement that there are necessary tools for Ethereum developers to use.
Among the stated benefits of transitioning to the Solana network is the reduction of operational costs for their dApps. Another is the parallel execution of transactions featured on Solana.
Neon Labs believes the EVM solution will integrate with Solana’s high throughput. However, Solana’s position as the fastest EVM-compatible blockchain remains a debate among market players as Neon EVM continues to undergo extensive tests.
“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,” Neon Foundation’s director, Maina Guryeva, said.
Seven Months Wait
In November 2022, Neon Labs announced that the EVM solution would be launched in December by the Neon Foundation, a non-profit organization designed to support the Neon ecosystem.
Due to the “challenging market conditions” at the expected launch time, the project shifted the EVM solution’s deployment date. The new date was undeclared at the time. With the mainnet finally launched, Ethereum-based projects like Aave and Curve Finance will make their way to the Solana mainnet through Neon EVM.
