Blockchain
Eclipse and Neon EVM Lead Solana-Ethereum Integration for Blockchain Interoperability
Layer 2 (L2) blockchain Eclipse and developer-oriented bridge Neon EVM have formed a new collaboration implement changes in the blockchain landscape, increasing interoperability and scalability with the integration of Ethereum (ETH) and Solana (SOL).
With the aim of combining 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 main goal of this collaboration is to integrate the transaction management capabilities of Solana, which can process thousands of transactions per second Ethereum.
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 Blockchain networks based on virtual machines. Eclipse plans to leverage Neon Stack on its L2 SVM to facilitate this integration.
The Neon Stack consists of Neon EVM and Neon Proxy smart contracts. It has been active 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 (DEX), on Solana from its existing code base.
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 pioneering a scalable, high-performance dApp infrastructure that transcends the limitations of traditional blockchain architectures and redefines computational efficiency. We are happy to see Eclipse as the first industrial partner to use Neon Stack.
On the other hand, Neel Somani, founder of Eclipse Labs, the company behind the development of the Layer 2 blockchain, also highlighted the importance of the partnership, stating:
Our collaboration with Neon Stack allows developers to seamlessly deploy their dApps from EVM chains to Eclipse, further strengthening the harmonization between Solana and Ethereum. Solidity developers who want to build on a high-performance L2 that leverages the strengths of SVM can finally do so.”
Interestingly, the Ethereum ecosystem hosts over 13,000 of them dApp, with only a small fraction, 0.4%, tied with Solana. This collaboration between Neon EVM and Eclipse could also provide additional opportunities for developers to create new dApps with the new integration.
In summary, it is believed that developers will be able to create advanced dApps that leverage the capabilities of Ethereum and Solana, along with their respective native ecosystems and virtual machines, leveraging the design of NEON Stack and Eclipse.
As of the current update, NEON EVM’s native token, NEON, is trading at $1.0135. It showed a recovery of 2.6% in the last 24 hours, in line with the overall positive movement in the cryptocurrency market. However, over the past 7 days, the token has seen a decline in price, registering a decline of almost 8%.
Featured image from Shutterstock, chart from TradingView.com