Neon Labs Plans To Release EVM On Solana On December 12

On December 12, Neon Labs intends to introduce a layer of Ethereum-based smart contracts onto the Solana blockchain.

Neon Labs’s implementation will be a Solana-based smart contract platform that enables the deployment of Ethereum-based apps, which has not previously been available on the network. The current Solana smart contract framework is incompatible with the EVM.

Therefore, it is not viable to create Ethereum applications on Solana. Neon hopes to alter that by leveraging the computational layer and development tools already existing on Ethereum, hence lowering the barrier to entry for Ethereum developers interested in expanding to Solana.

The Neon EVM solution, which enables programmers to create Ethereum applications on top of Solana, seeks to add support for the Ethereum Virtual Machine (EVM).

Neon Labs raised $40 million from investors, including Jump Capital, IDEO CoLab Ventures, and Solana Capital last year.

Aave, Curve, and Sobal, three well-known Ethereum-based applications, are getting ready to launch on Neon EVM once its mainnet launch goes live.

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