Solana CEO Anatoly Yakovenko stated the virtual machine of Neon Labs ‘represents a commitment to a multi-chain future.’ Neon Labs, a well-known Blockchain developer, has established an Ethereum-Solana interoperability bridge that opens the door to additional cross-chain possibilities for the growth of Ethereum programmers.
On Tuesday, the firm said that Neon’s Ethereum Virtual Machine or EVM has deployed through testnet on Solana. The EVM gives every decentralized application for Ethereum access to the large capacity of Solana and a reduced gas charge. In essence, Neon EVM enables anybody to directly perform Ethereum contracts on the Solana blockchain.
Neon’s EVM will enable decentralized apps like SushiSwap, Uniswap, 0x, and MakerDAO even during the testnet stage. The mainnet is scheduled to start later this quarter.
A director at Neon Labs said, “Ethereum is a thriving blockchain ecosystem that has a lot to offer to dApp developers and users 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.” “Thanks to Neon EVM dApp developers will be easily tapping into the Solana market and offer users great experience without any difference in terms of interface or tools used.”
The CEO of Solana, Anatoly Yakovenko, said that Ethereum compatibility “would facilitate considerably the use of the lower fees, ultra-fast speeds and future-proof Solana’s scalability for EVN projects afterwards.”
On the Solana blockchain, a number of developers and companies are just getting started. For example, Swiss-based Digital Assets AG has just introduced tokenized stock offers on Solana, which let traders access tokenized shares of major blue chips like Netflix, Alphabet, Facebook, and Tesla.
Yakovenko thinks that Solana will be able to integrate a billion users over the next years as blockchain development moves towards the application layer. In the meanwhile, the protocol attracted high-value investors from across the globe and supported the project, such as Andreessen Horowitz, CMS Holdings, CoinShares, and Alameda Research.
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