• Neon EVM launched on the Solana Mainnet to bridge the gap between Ethereum and Solana.
• The average transaction fee for sending ETH on Ethereum network is ~$2 whereas it is ~$0.0002 per transaction on Solana, 10,000 times cheaper.
• Neon DAO was activated to participate in and influence the future development of Neon EVM.
Neon EVM Launches on Solana Mainnet
[PARIS] – July 17, 2023 – During ETHCC23, Neon EVM launched on the Solana Mainnet to help close the gap between the different programming, computing, and memory models of Ethereum and Solana, bringing a low-friction solution to allow EVM dApps to settle to Solana. The Neon EVM program is a smart contract on the Solana blockchain. It accepts wrapped Ethereum-like transactions and processes them on Solana.
Average Transaction Fee
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 translates these optimizations in practice .
Launch Excitement
„We are very excited to see Neon EVM live on 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 on the Solana Mainnet , the Neon DAO is activated to begin participating in , and influencing the future development of , Neon EVM .
About NeonEVM
NeonEVM is an Ethereum Virtual Machine operating as a smart contract on Solana . It gives developers power directly deploy Ethereum dApps with minimal reconfiguration code while benefiting from technical advantages provided bySolana . It built with security , decentralization , and sustainability as core tenants . For more information about updates visit official website or connect with community Twitter or Discord .