Neon Labs deploys cross-chain Ethereum Virtual Machine on Solana
Solana CEO Anatoly Yakovenko said Neon Labs’ Ethereum Virtual Machine “represents a commitment to a multi-chain future.” Blockchain developer Neon Labs has created a compatibility bridge between Ethereum and Solana, opening the door to more cross-chain development opportunities for Ethereum programmers.Neon’s Ethereum Virtual Machine, or EVM, has deployed via testnet on Solana, the company announced Tuesday. The EVN grants any decentralized application on Ethereum access to Solana’s high throughput capacity and lower gas fees. Essentially, Neon EVM allows anyone to run Ethereum contracts....
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Venture capital continues to flood the cryptocurrency market, with Neon Labs securing a considerable fundraise via its NEON token sale. Decentralized finance development firm Neon Labs has concluded a $40-million private token sale as part of its ongoing efforts to create an Ethereum-compatible environment on the Solana blockchain, underscoring heightened investor demand for scalability and liquidity solutions in the rapidly growing decentralized finance market.The private sale of NEON tokens was led by Jump Capital, a Chicago-based venture firm, with additional participation from Shu Zu’s....
The new bridge is allegedly five times cheaper, faster, and more secure than before. The company says it is meant to act as a "growth engine" for future expansion. Avalanche (AVAX) is replacing its months-old Avalanche-Ethereum Bridge, or AEB, with the aptly named Avalanche Bridge, or AB, according to a Medium post from the company. This newer bridge is allegedly fives times cheaper than the previous one and will act as a “growth engine” for the project’s future.The post notes that the AB is available to developers and users right now, and all previous assets from the AEB should carry....
Terra Bridge, the cross-chain bridge protocol now supports Solana, Fantom, Moonbeam, Osmosis, and Avalanche according to Terraform Labs CEO Do Kwon. “Easiest way to move funds in crypto,” the Terraform Labs CEO explained in a tweet.
Terra Bridge Adds 5 New Chains
On April 12, 2022, Terraform Labs co-founder Do Kwon told his 352,800 Twitter followers that Terra Bridge, otherwise known as bridge.terra.money, now supports five new blockchain networks.
Cross-chain bridge technology has come a long way over the last 12 months and in mid-September 2021, there....
Avalanche blockchain launched its own official Ethereum bridge in 2021, but now a third-party cross-chain bridge claims to reduce transaction cost even further. Avalanche (AVAX), a Layer-1 proof-of-stake (PoS) blockchain network, gets a new cross-chain bridge from Umbria Network to help traders transfer liquidity between Ethereum mainnet and the Avalanche blockchain.Avalanche blockchain supports multiple virtual machines, including WebAssembly (WASM) and Ethereum Virtual Machine (EVM), allowing different sub-chains to incorporate a specific way of operations. Multiple virtual machine....
Running on a proof-of-authority consensus algorithm, Cronos is powered by Ethermint, a proof-of-stake chain interoperable with Ethereum and EVM-compatible chains. The Crypto.com chain testnet allowing projects built on Ethereum to transfer over to its ecosystem from chains compatible with Ethereum Virtual Machine is now live.In a Tuesday announcement, Crypto.com said it had launched the testnet for its Ethereum Virtual Machine, or EVM, chain called Cronos, running in parallel to the Crypto.org chain. The chain is aimed at providing developers the ability to move projects from Ethereum and....