Neon Labs, an Ethereum virtual machine on Solana that facilitates dApp developers to scale and access liquidity, has announced the launch of its closed Neon EVM beta version, Neon EVMβ, on Solana’s mainnet. This marks a major milestone in the Neon EVM roadmap.
The Neon EVMβ is a fully-functioning Neon EVM that enables fee-free transactions. All Neon EVM transactions are settled to Solana’s L1 and require payment in SOL, the native token of Solana. However, the NEON token is not requested by the Proxy Operator in the current beta version.
What is Neon EVM?
Neon EVM is a low-friction solution that bridges the gap between Ethereum and Solana, allowing Ethereum developers to benefit from Solana’s features, such as low fees, high transaction speeds, and parallel transaction execution.
Why a closed beta Neon EVM?
The Neon EVM ecosystem includes many more components than the Neon EVM and Proxy Operators. These include DAO, oracles, indexers, wallets, multisigs, bridges, explorers, and more. Thus, the Neon EVMβ provides an opportunity for all parties to deploy and test their services before the official Solana Mainnet launch.
The closed beta allows the Neon EVM team to onboard and test the services of ecosystem players in a controlled manner. It will only accept transactions from those on the guest list. The first phase includes the integration of infrastructure components, while the second phase will test the connection of wallets.
In addition to providing a controlled environment, the closed beta helps to manage costs. It is not possible to provide an open beta and predict the cost in SOL for such an initiative.
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