[PARIS] – July 17, 2023 – Neon EVM, launched on the Solana Mainnet during ETHCC23, is designed to bridge the gap between the different programming, computing, and memory models of Ethereum and Solana, providing a low-friction solution for EVM dApps to settle on Solana.
Neon EVM is a smart contract on the Solana blockchain that processes Ethereum-like transactions on Solana. Prior to this, EVM dApps had to settle on a rollup or sidechain in order to benefit from low-cost solutions. This would involve an average transaction fee of ~$2 for ETH, or ~$0.5–$0.1 for L2s, saving 4–20 times. Nevertheless, Solana’s average transaction fees are ~$0.0002 per transaction, a 10,000 times saving. Initial tests in Devnet show the protocol translates these optimizations into practice.
“We are thrilled to see Neon EVM on the Solana Mainnet,” says Marina Guryeva, Director of Neon Foundation. “Once we repeat these tests in production, we will present the figures based on real-world data.”
With the launch of Neon EVM, the Neon DAO is activated to start participating in and influencing the future development of Neon EVM.
About Neon EVM
Neon EVM is an Ethereum Virtual Machine operating as a smart contract on Solana, allowing developers to deploy Ethereum dApps with minimal reconfiguration to the code, yet benefit from Solana’s technical advantages. Visit NeonEVM.org for more information 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 a high-level overview of the technical architecture and features of Neon EVM, the whitepaper is available at NeonEVM.org/whitepaper.pdf
– View Neon EVM transactions settled to Solana with the NeonScan or BlockScout explorers
– IRL: Epic Layer 2 Day, an event for researchers, developers, and enthusiasts dedicated to Ethereum L2 Scaling, see: lu.ma/l2paris
