Key facts:
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Neon EVM brings together the best of both chains while ensuring the conclusion of the deals in Solana.
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Neon EVM solution makes Solana a viable option for multi-chain builders
What is Neon EVM?
Neon EVM is a low-friction solution that allows Ethereum dApps to settle transactions on Solana, bridging the gap between these two leading blockchains.
Neon EVM positions Ethereum developers to enjoy the best of the Solana network, from low fees to high transaction speeds and ability to execute parallel transactions.
While Solana is one of the fastest growing organic chains, its incompatibility with EVM has left several hundred million in TVL, millions of users, and an entire ecosystem intact for EVM multi-chain dApp developers – until now.
The pioneering Neon EVM solution is the early innovation in the Solana ecosystem and makes Solana a viable option for multi-chain builders. Neon EVM brings together the best of both chains while ensuring the firmness of the agreements in Solana.
What is the Neon EVM closed beta?
The release of the closed beta version of Neon EVM, Neon EVMβ, on the Solana Mainnet is a major milestone on the roadmap.
Neon EVMβ is a fully functional Neon EVM with one major modification: it supports fee-free transactions.
This means that all transactions settle on Solana’s L1 and require payment in SOL, just like any transaction settled by Solana. However, in the beta version, the NEON token is not required by the proxy operator responsible for accepting the transaction request and ensuring its completion.
Why release in beta?
The Neon EVM ecosystem includes many more players than just Neon EVM and the proxy operators that accept and settle transaction requests. It includes DAO, oracles, indexers, wallets, multisig, bridges, explorers, and more. Neon EVMβ provides an opportunity for all parties to implement and test to ensure seamless integration of their services prior to the official launch of Solana Mainnet.
While Neon EVM could have chosen to do a Shadow Mainnet release on a fork of Solana’s mainchain, the direct release to Mainnet offers significant advantages. No less important is that the implemented and tested contracts will retain their addresses in Solana Mainnet.
Why release in closed beta?
The closed beta release allows the Neon EVM team to onboard and test ecosystem player services in controlled phases. The first phase incorporated the infrastructure components, and the second phase accepted dApps and will test the connection of wallets.
Operating in closed beta also controls budget by keeping activity limited to an invite-only list. Remember, while the Proxy Operator is not charging a fee, the Solana network still does. It is simply not possible to provide an open beta and predict the cost in SOL for such an initiative (although it is possible to predict that the cost in SOL will be less than the equivalent cost in ETH for an EVM setting up on Ethereum).
When the trial period ends and NEON tokens are available to pay for transactions, Neon EVM will return to its normal operating mode. This means that independent proxy operators (P2P and Everstake) will take over responsibility for accepting and processing transactions. The proxy operator RPC endpoints will be available on ChainList.
Do you want to get involved?
While Neon EVM is deployed on the Solana Mainnet at the address NeonVMyRX5GbCrsAHnUwx1nYYoJAtskU1bWUo6JGNyGsince this is a closed beta version, unless you are on the invite list, it will not accept your transactions yet.
You can find us at Twitter and join the very active discord from Neon EVM to meet our loyal long-term community builders. Get a high-level overview of the technical architecture and features of Neon EVM, in the white paper available at neonEVM.org/whitepaper.pdf. To track network activity, you can view Neon EVM transactions settled in Solana with the Solana dashboard. NeonScan.
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