Neon EVM, an Ethereum Virtual Machine (EVM), has launched its closed beta, enabling Ethereum decentralized applications (dApps) to scale using Solana as the settlement layer. This fully Ethereum-compatible environment facilitates Ethereum dApps to leverage Solana's capabilities, including parallel transaction execution, leading to higher transaction speeds, lower gas fees, and increased throughput.
Neon EVM presents a unique opportunity for developers who wish to tap into Solana's liquidity, gain a first-mover advantage, and reach new Solana customers. By aligning with Solana, Neon EVM bridges the divide between two leading blockchains, ensuring transaction settlement finality on Solana. Currently, Solana is one of the fastest-growing chains organically, and its EVM incompatibility has attracted a substantial user base with significant Total Value Locked (TVL).
Neon EVM, the first EVM on Solana, enables easy smart contract adaptation, and alongside the benefits of scalability and Solana's growing ecosystem, it offers familiar smart contract languages and Ethereum-based tools like Truffle and MetaMask.
The Neon EVM team recently initiated the closed beta version, Neon EVMβ, on Solana's mainnet. Despite functioning similarly to a fully operational Neon EVM, Neon EVMβ supports fee-free transactions. This beta launch allows all parties in the Neon EVM ecosystem to deploy and test Neon EVMβ, ensuring smooth service integration ahead of the official Solana Mainnet launch.
The beta launch comprised two stages: the first involved the onboarding of infrastructure components, while the second entailed accepting dApps and planning test wallet connections.
Neon EVM's utility and governance token, NEON, will manage the ecosystem, being used for all Neon EVM transactions, including Neon operators. NEON holders will be able to propose and vote on changes to the Neon protocol.
The Neon EVM project is still in progress, with the team planning to launch Neon DAO, integrate with The Graph, Chainlink, and Pyth, initiate grant programs, and more.
For participation, Neon EVM has been deployed to the Solana Mainnet at the address
https://solscan.io/account/NeonVMyRX5GbCrsAHnUwx1nYYoJAtskU1bWUo6JGNyG.
However, as this is a closed beta, it will only accept transactions from those on the guest list.
To connect with the community, you can follow Neon EVM on Twitter, join their lively Discord, or check out the whitepaper at NeonEVM.org/whitepaper.pdf. The NeonScan dashboard allows you to monitor Neon EVM transactions settled to Solana, giving you insight into network activities.
