Eclipse And Neon EVM Drive Solana-Ethereum Integration For Blockchain Interoperability
03 May 2024 - 9:00AM
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Layer 2 (L2) blockchain Eclipse and developer-oriented bridge Neon
EVM have formed a new collaboration to implement changes in the
blockchain landscape, increasing interoperability and scalability
with the integration of Ethereum (ETH) and Solana (SOL).
Aiming to combine the capabilities of both blockchains, Eclipse has
consolidated the compatibility between the Ethereum Virtual Machine
(EVM) and the Solana Virtual Machine (SVM) by deploying Neon Stack.
Solana And Ethereum Integration The primary objective of this
collaboration is to integrate Solana’s transaction handling
capabilities, which can process thousands of transactions per
second, into Ethereum. Related Reading: Ripple Unlocks 1
Billion XRP From Escrow – How Will This Impact Price? This
integration will be facilitated by Neon Stack, a standardized
development stack that enables smart contract developers to achieve
Ethereum Virtual Machine compatibility on Solana Virtual
Machine-based blockchain networks. Eclipse plans to leverage Neon
Stack on its SVM L2 to facilitate this integration. The Neon Stack
consists of Neon EVM smart contracts and Neon Proxy. It has been
live on the Solana mainnet since July 2023. It has deployed
numerous Ethereum-native Solidity decentralized applications
(dApps), including decentralized finance (DeFi), gaming, and
decentralized exchanges (DEXs), on Solana from its existing
codebase. Neon EVM-Eclipse Partnership For Cross-Chain
Development Davide Menegaldo, Chief Commercial Officer (COO) of
Neon EVM, expressed enthusiasm for Neon Stack and the
collaboration, stating: With Neon Stack, we are paving the
way for high-performance, scalable dApps infrastructure that
transcends the limitations of traditional blockchain architectures
and redefines computational efficiency. We are pleased to see
Eclipse as the first industry partner to utilize the Neon Stack. On
the other hand, Neel Somani, founder of Eclipse Labs, the company
behind the development of the Layer 2 blockchain, also emphasized
the importance of the partnership, saying: Our collaboration with
Neon Stack enables developers to seamlessly deploy their dApps from
EVM chains to Eclipse, further strengthening the harmonization
between Solana and Ethereum. Solidity developers who wish to build
on a high-performance L2 that leverages the strengths of the SVM
can finally do so.” Interestingly, the Ethereum ecosystem hosts
over 13,000 dApps, with only a small fraction, 0.4%, cross-chained
with Solana. This collaboration between Neon EVM and Eclipse could
also provide further opportunities for developers to build new
dApps with the new integration. Related Reading: Whales Dive
In, But Dogecoin Price Sinks 20%: What’s Going On? In sum, it is
believed that developers will be able to build advanced dApps that
leverage the features of Ethereum and Solana, along with their
respective native ecosystems and virtual machines, by leveraging
the design of the NEON Stack and Eclipse. As of the current update,
the native token of NEON EVM, NEON, is trading at $1.0135. It has
shown a 2.6% recovery over the past 24 hours, aligning with the
overall positive movement in the cryptocurrency market. However,
during the past 7 days, the token has witnessed a price decline,
experiencing a nearly 8% drop. Featured image from Shutterstock,
chart from TradingView.com
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