• Neon EVM launches on Solana Mainnet to close the gap between Ethereum and Solana.
• It allows EVM dApps to settle on Solana for lower costs than rollup or sidechain solutions.
• The Neon DAO is activated to begin participating in the future development of Neon EVM.
Neon EVM Launches on Solana Mainnet
Neon EVM has launched on the Solana Mainnet, offering a low-friction solution that bridges the gap between Ethereum and Solana by allowing EVM dApps to settle to Solana. This can result in average transaction fees being 10,000 times less than those of Ethereum. Initial tests of Neon EVM have demonstrated its success in practice.
Why Use Neon EVM?
When using Ethereum, the average transaction fee is ~$2. However, by using L2 solutions like rollups or sidechains, this fee can be reduced by 4–20 times to approximately $0.5–$0.1 per transaction. In comparison, with Neon EVM settling on Solana this fee can be reduced even further down to ~0.00001 SOL ($0.0002) per transaction; a saving of 10,000 times when compared with Ethereum’s fees.
The Activation of the Neon DAO
With the launch of Neon EVM on the Solana Mainnet comes the activation of the Neon DAO which will allow users and developers to participate in and influence its future development and upgrades as needed over time.
NeonEVM is an Ethereum Virtual Machine operating as a smart contract on theSolana blockchain that enables developers to deploy their apps without needing significant reconfiguration while benefiting from all of its technical advantages such as security, decentralization and sustainability at its core tenants . More information about it can be found at their website (neonevm).org/.
Links and Resources
For more information about updates surrounding NeoEVMs progress join their community Twitter or Discord account , use ChainList for choosing a public RPC endpoint , view whitepaper at neonevm/whitepaper , explore transactions settled in NeoEVMs through Neoscan or blockscout explorers .