Bitcoin
$65,428.93+5.20%
Ethereum
$3,113.87+3.00%
Binance Coin
$562.72+3.57%
Solana
$145.15+8.96%
XRP
$0.50300642+2.33%
Toncoin
$6.51+6.48%
Dogecoin
$0.15328869+4.33%
Cardano
$0.47248525+5.82%
Shiba Inu
$0.00002317+4.72%
Avalanche
$35.58+3.50%
Wrapped Bitcoin
$65,353.76+6.77%
Tron
$0.10943046+0.61%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
01
DAY
07
HR
03
MIN
53
SEC
Finance

Ethereum Apps Could Soon be Launching on Competitor Solana

Neon Labs is nearing the launch of its long-awaited Ethereum Virtual Machine for Solana

By Danny Nelson
AccessTimeIconNov 7, 2022 at 3:06 p.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC
The Solana Hacker House in Miami, April 2022. (Danny Nelson/CoinDesk)
The Solana Hacker House in Miami, April 2022. (Danny Nelson/CoinDesk)
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Software startup Neon Labs will open its gateway for Ethereum-based crypto projects to access the competing Solana ecosystem before the year is out.

Neon Labs will launch its “ethereum virtual machine” for Solana on December 12, CEO Marina Guryeva told CoinDesk. EVM is the standardized engine that powers decentralized finance (DeFi) apps on Ethereum and a handful of other ecosystems, sans Solana, which follows a different infrastructure.

VolumeMuteUnmute

Bitcoin, Ether Rise Amid ETF Steam in Hong Kong; Solana's Latest Update

  • Rootstock: Bringing the Ethereum Virtual Machine to Bitcoin
    44:44
    Rootstock: Bringing the Ethereum Virtual Machine to Bitcoin
  • Wormhole’s W Token Has a 999% Weekly Return; Why VanEck Is Bullish on Ethereum Layer 2s
    02:30
    Wormhole’s W Token Has a 999% Weekly Return; Why VanEck Is Bullish on Ethereum Layer 2s
  • The Real Reason Why the SEC Might Be Going After Ethereum
    1:20:10
    The Real Reason Why the SEC Might Be Going After Ethereum
  • Solana: Its Meme Coin Craze, Growth and Vision With CEO Anatoly Yakovenko
    40:12
    Solana: Its Meme Coin Craze, Growth and Vision With CEO Anatoly Yakovenko

    • Rolling out an EVM for Solana means that Ethereum-based projects will be able to deploy on Solana without rewiring their codebases, a cumbersome task. Neon says that some of Ethereum’s DeFi heavy-hitters including Aave and Curve are preparing to use Neon’s long-awaited EVM.

    “The winning strategy is to go on each and every new layer 1 blockchain” to capture those ecosystem’s user-bases, Guryeva said.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Danny Nelson
    Danny Nelson

    Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

    Follow @realDannyNelson on Twitter

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.