Marina Guryeva, the creator of Neon Labs, was at the Solana BreakPoint gathering where she announced that Neon EVM, an on-chain solution, would launch on the Solana mainnet on December 12. This will enable Ethereum decentralized applications (dApps) to access the Solana network, its functionality, scalability, and liquidity. Unique on the Solana network, Neon EVM expands network development options.
Developers can create Ethereum dApps on the Solana network and take advantage of its benefits by using the Neon EVM. Neon transactions of the Ethereum dApps are bundled into a Solana transaction.
This “unites the best of two worlds (Ethereum and Solana),” according to Guryeva, as Ethereum-based projects can now access the previously inaccessible audience and liquidity of Solana without having to rewrite their code in Rust. Users will be able to leverage improved user experiences on Solana without giving up Ethereum’s tried-and-tested dApps.
The user base of Solana, which has an average of 20.5 million active wallets per month, will also be available to Ethereum developers and projects. Neon Labs further mentioned that Neon is already being used by Ethereum-based projects like Aave, Curve, and Sobal.
The organization that created the Neon EVM, Neon Labs, raised $40 million to bring it to Solana. In addition to Jump Capital, additional investors in the investment round included Three Arrows Capital, Solana Capital, and IDEO CoLab Ventures
Recently, Solana has made headlines for a variety of reasons. Most significantly, Google Cloud announced that it had joined the Solana validator programme. In 2023, the Solana chain will also receive access to the Blockchain Node Engine from Google Cloud. The price of Solana increased by 12% as a result of the announcement. As part of its credit initiative, Google also disclosed that it will grant up to $100,000 in Cloud Credits to chosen business owners in the Solana ecosystem.