A Solana-based Ethereum Virtual Machine is on the way

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Solana's Neon Labs will soon be launching the blockchain's first EVM (Ethereum virtual machine).

The EVM launch was earlier announced at the Solana Breakpoint Conference, which was held in Lisbon last week.

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Neon EVM's launch will allow Solana users to explore a range of Ethereum dApps on the Solana blockchain.

Solana EVM to launch in December

Neon Labs will soon be debuting its EVM on Solana, which will alow Solana users to interact with a wide range of Ethereum-based decentralised apps on Solana.

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As per the official announcement, Neon's EVM performance has been tested multiple times to ensure its reliability.

In addition, Neon Labs is also working towards "developing interoperability between Solana smart contracts, a full ecosystem, and compatibility integration with additional major Ethereum tools and services" in its bid to deliver a robust platform to its users.

While attending the Solana Breakpoint Conference in Lisbon, the founder of Neon Labs, Marina Guryeva, discussed how the launch of Neon EVM can benefit Solana users in the long run.

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Guryeva shared:

Neon EVM unites the best of two worlds, Ethereum and Solana, and puts to rest the Ethereum killer narrative once and for all. Ethereum-based projects can, for the first time, tap into the previously inaccessible audience and liquidity of Solana without needing to rewrite their code in Rust. As a result, users will now get to enjoy enhanced user experiences on Solana without losing out on Ethereum’s battle-tested dApps.

Dubbed as a "one of a kind" EVM launch set to impact both the Solana and Ethereum ecosystems, Neon EVM will also assist Ethereum developers to make use of Solana's comprehensive user base.

Alongside that, the post later shares that some Ethereum-based projects have already started to build on Neon, including Aave, Curve, and Sobal.

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Neon Labs had earlier raised $40 million in funding to bring EVM functionality to the Solana blockchain. The funding round was led by Jump Capital and included participation from leading crypto firms, including IDEO CoLab Ventures, Solana Capital, and Three Arrows Capital, among others.

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