During ETHCC23, Neon EVM introduced on Solana's Mainnet to bridge the divide between Ethereum's and Solana's programming paradigms, computing, and memory structures, offering a streamlined way for EVM dApps to operate on Solana.
The Neon EVM initiative is implemented as a smart contract on Solana's blockchain, able to handle Ethereum-like transactions once wrapped and execute them using Solana's platform.
Previously, when EVM dApps wanted to leverage low-cost solutions, they had to use a rollup or sidechain. By using Solana as the settlement layer, an EVM is well-placed to outcompete such L2 solutions. The average transaction fee for sending ETH on the Ethereum network is $2. The L2s offer between $0.5–$0.1 , a saving of 4–20 times. In comparison, Solana’s average transaction fees are 0.00001 SOL ($0.0002) per transaction, 10,000 times saving. Initial tests of Neon EVM in Devnet demonstrate that the protocol effectuates these efficiency improvements practically .
\"We're thrilled about Neon EVM's integration into the Solana Mainnet,\" states Marina Guryeva, leader at the Neon Foundation . \"We'll share the results with actual industry data post-production tests.\"
With Neon EVM's introduction on Solana's Mainnet, Neon DAO is gearing up to take an active role in shaping the evolution of Neon EVM.
About Neon EVM
Neon EVM, serving as an Ethereum Virtual Machine smart contract on Solana, empowers developers to roll out Ethereum dApps easily with minimal code alteration, while leveraging Solana's key benefits. It's designed with security, decentralization, and eco-friendliness in mind. Discover more about Neon EVM and stay updated on its developments by visiting. NeonEVM.org and connect with the community on Twitter or Discord .
Links and resources:
- Find the Neon EVM community on Twitter or Discord
- To choose a public RPC endpoint, see ChainList
- For an in-depth look at the technical setup and features of Neon EVM, the whitepaper is accessible at. NeonEVM.org/whitepaper.pdf
- Monitor the progress of Neon EVM transactions that are confirmed on Solana via the. NeonScan or BlockScout explorers.
- IRL: Epic Layer 2 Day — an occasion dedicated to Ethereum L2 Scaling, catered to researchers, developers, and enthusiasts. Check it out at. lu.ma/l2paris
