Blockchain developer Neon Labs has launched the "Neon EVM", a computing environment that will allow developers to write Ethereum applications on top of Solana.
Neon's implementation is a smart contract built on top of Solana that lets developers deploy Ethereum Virtual Machine (EVM) code — something that’s not been possible so far on the network.
Neon Labs announced the completion of the necessary tooling for Ethereum developers to transition their projects to Solana, a move, it said, could potentially reduce the operational costs of their applications.
The team at Neon Labs expressed confidence that its EVM solution will integrate effectively with Solana’s high throughput capabilities to host Ethereum apps, and is currently conducting extensive tests in this regard.
In addition to providing access to the Solana network, Neon EVM hopes to enable Ethereum apps to take advantage of the functionality native to Solana, including parallel execution of transactions.
“We are very excited to see Neon EVM live on Solana Mainnet,” said Marina Guryeva, director of Neon Foundation. “Once we repeat these tests in production, we will present the figures based on the real-world data.”
In 2021, Neon Labs raised $40 million from Jump Capital, IDEO CoLab Ventures and Solana Capital, amongst others.
