Neon EVM Introduced to Support Ethereum Applications on Solana.

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Chainlink, a leading data oracle, has introduced its Cross-Chain Interoperability Protocol (CCIP) on its Mainnet, which supports networks like Avalanche, Ethereum, Optimism, and Polygon (MATIC). The protocol strives to be the “TCP/IP of finance,” enabling a standardized communication method between different chains. Through its active management network, it will connect DeFi apps with other chains, giving them a massive security system. Chainlink is a decentralized oracle network, and its currency, LINK, has reached a high of $8.86 per day. The network has already begun to collaborate with top performers in traditional finance, including Swift, BNY Mellon, Citigroup, and BNP Parabens. This follows BlackRock’s entry into the Bitcoin ETF market. Chainlink will provide banks with access to real-world asset tokens, enabling them to participate in the blockchain ecosystem in a variety of ways. Nazarov believes this is a game changer for global banking because it will connect a fragmented global financial system in the same way that TCP/IP did for the internet.

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Neon EVM introduced a computing environment that allows Ethereum developers to build apps on top of Solana. It is a smart contract developed on top of Solana to install Ethereum Virtual Machine (EVM) code, a functionality not yet accessible on the network. The development team has finished the required tooling enabling Ethereum developers to move their applications to Solana, potentially lowering operating expenses. Neon EVM is sure that their EVM solution will work well with Solana’s high throughput capabilities for running Ethereum apps. It seeks to let Ethereum programs to utilise native Solana features, such as parallel transaction processing.

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