Customizable abstract provider Eclipse is launching a scaling solution that is compatible with the Solana and Polygon networks. Eclipse’s results have shown that Layer 2 blockchains can run smart contracts on Solana, which makes it easy to migrate dapps and other decentralized applications. Polygon has named this solution the Sealevel Virtual Machine (SVM).
How Eclipse’s Layer 2 Scaling Concept Hopes To Improve Blockchain Efficiency
On Thursday, abstract provider Eclipse announced its collaboration with the Polygon team to launch the Polygon Sealevel Virtual Machine (SVM). Eclipse noted that the Polygon SVM will bring new uses and visitors to the Polygon ecosystem. Moreover, the technology aims to make the most out of Polygon’s security and seeks to deliver a faster and more cost-efficient experience.
Eclipse utilizes a customizable layer 2 (L2) scaling concept: numerous transactions are bundled together to validate them off-chain before they are sent back onto the blockchain. The abstract ideas strive to increase scalability and reduce fees while preserving the security and decentralization benefits of the underlying blockchain network.
“It was obvious that rollups were the way to scale Ethereum, since it was still very slow and expensive,” said Neel Somani, the founder of Eclipse, in an interview with Techcrunch. “So we thought of a highly parallelized rollup, but the difference is that we stick to a set of common tools like the Solana Virtual Machine or the Ethereum Virtual Machine (EVM).”
Eclipse has secured $15 million in funding over the past 12 months, backed by the University of Wisconsin, Polychain, Tribe Capital, Struck Crypto, Soma Capital, Tabiya?, and Galileo. The grant also provides startup funding from the Solana Foundation and has worked with Celestia, Eigenlayer, and Near. Somani, a former Terra Blockchain engineer, worked on the Terranova, a Terra-based Ethereum Virtual Machine (EVM) project before the Terra ecosystem collapsed.
Do you think the new project is worth your attention? What is the purpose of Eclipse creating? Please share your thoughts in the comments below.
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