Ethereum Apps Could Soon be Launching on Competitor Solana

Neon Labs will launch its “ethereum virtual machine” for Solana on December 12, CEO Marina Guryeva told CoinDesk. 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.

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.

Please note that our privacy policyterms of usecookiesdo not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.