London, United Kingdom, October 16th, 2024, Chainwire

Neon EVM Pioneers the Network Extension Category on Solana, Ushering in a New Era of Unified Growth.

Neon EVM, a leading Ethereum Virtual Machine (EVM) on Solana, formally adopts Solana Network Extension as a product category, perfectly capturing the essence of this new category. Network Extensions fill a critical gap in the Solana ecosystem. By offering a formal category for projects that natively extend Solana’s functionalities, Neon EVM provides clarity to developers, investors, and users alike. 

Traditionally, the positioning resulted from the inherent nature of Neon EVM and various other projects (MagicBlock, MetaPlex, etc.) since these are not typical Layer 1 or Layer 2 blockchains. 

Unlike traditional rollups, L2s, or sidechains, Neon EVM is a program deployed directly on Solana’s blockchain and relies upon its settlement, consensus, and data availability. Today, this makes Neon EVM part of an emerging product category known as Network Extensions—a native, composable expansion of Solana’s core capabilities, stirring up debate.

The controversy sparking the Network Extensions category

Solana’s Network Extensions sparked controversy in September 2024, with co-founder Anatoly Yakovenko calling Ethereum’s L2 solutions “parasitic.” Yakovenko argued that L2s drain liquidity and fragment the ecosystem, a view echoed by Solana advocates who said L2s create a disjointed user experience. In contrast, Yakovenko claimed Solana’s Network Extensions are “natively composable” and enhance the core chain without pulling liquidity. Supporters emphasized that they are not disguised L2s but maintain a direct connection to Solana’s base layer, enabling seamless composability without Ethereum’s issues.

Network Extensions differ fundamentally from L2s. 

Unlocking Seamless Ethereum Compatibility on Solana: Neon EVM as a Native Network Extension

Solana sees its Network Extensions as specialised modules that broaden the L1 blockchain’s core functionalities. These extensions natively integrate with the Solana base layer, allowing new capabilities to be added while preserving the core performance and composability of the underlying L1 chain.

Neon EVM epitomises this concept by enabling Ethereum compatibility for dApps while maintaining an execution environment with Solana. Neon isn’t a typical L2—it runs as an EVM (Ethereum Virtual Machine) on Solana’s blockchain, providing compatibility with Ethereum-based applications while remaining fully integrated with Solana’s L1. Unlike Optimistic or ZK Rollups, Neon doesn’t process transactions off-chain, but via Neon Proxy. Instead, it allows developers to deploy Ethereum dApps on Solana, leveraging Solana’s core capabilities— and no Rust coding is needed. Neon EVM seamlessly integrates with Solana at the protocol level and maps Ethereum transactions directly into Solana instructions, leveraging Solana’s advanced Sealevel transactional infrastructure. As a result, dApps running on Neon EVM benefit from Solana’s high-throughput environment and unparalleled scalability, enabling parallel processing and efficient execution.

This technology positions Neon EVM as a key player in enhancing the accessibility and composability of blockchain applications to the Solana ecosystem. 

The Solana Foundation team has reiterated Neon EVM’s role as a Network Extension on social media platform X, as seen in the post below, while Anatoly Yakovenko, co-founder of Solana, has clearly stated that Neon EVM is definitely not an L2. 

Davide Menegaldo, CCO of Neon EVM and highlights the importance of network extensions, stating, “Network Extensions offer a powerful way to enhance and augment the capabilities of blockchain networks like Solana without the downsides typically associated with traditional scalability solutions.” Menegaldo further takes a deep dive and explains the key to determining Network Extensions:

– Unified Liquidity: By operating within the same liquidity pool, Network Extensions prevent the liquidity fragmentation that often occurs with Layer 2s or sidechains, ensuring a more unified and efficient ecosystem.

-Enhanced User Experience: The user gets to use native wallets and tools with ease, abstracting away all complexities associated with multi-chain and fragmented environments.  

– Remains native to the host chain, extending core functionality: Network Extensions are deeply integrated into the base layer and do not compete with or directly overlap it. They expand Solana’s capabilities by adding new features, new execution environments, storage or consensus capabilities, NFT functionalities without replacing the core functionalities of the underlying Solana environment.

Projects like MagicBlock with Ephemeral rollups, and MarginFi, are creating tools, services, and infrastructure that don’t always fit into well-defined single categories of L1 and L2 terminologies.

To fully comply with the definition of Network Extensions, Neon EVM will abstract away the complexities of the EVM layer, ensuring a seamless experience for users. EVM developers can fast-track their deployment on Solana without needing to chart the complexities of Rust. Solana users can interact with these dApps through their preferred wallets, such as Phantom, Backpack, or Solflare, paying gas fees in Solana-native currency. 

This composable and intuitive user experience ensures that while the technology behind these applications is Ethereum-compatible, the end-user will benefit from a unified user experience – without even noticing the underlying Ethereum-like codebase powering the dApps.

Neon EVM drives innovation in Solana, expanding beyond traditional blockchain models

Network Extensions in the Solana ecosystem are setting a new precedent for how blockchain infrastructure can evolve beyond the traditional L1 and L2 models. As Solana continues its growth trajectory with Firedancer and many upcoming updates, Neon EVM is poised to play a pivotal role in accelerating innovation, bringing unparalleled growth opportunities to developers and users alike. The future of blockchain is extensible, and Neon EVM is poised to lead the charge beyond the standard pathways.

About Neon EVM

Neon EVM is the first of its kind—a Network Extension on Solana—designed to seamlessly integrate Ethereum Virtual Machine (EVM) compatibility into Solana’s high-performance ecosystem. By operating natively within Solana’s base layer, Neon EVM provides Ethereum developers with a fast, high-throughput pathway to deploy their EVM dApps on Solana, without the need Rust coding, separate blockchain layers, or fragmented liquidity. It enhances the composability of dApps while preserving Solana’s core advantages. Neon EVM expands Solana’s capabilities, offering a unified experience where Ethereum-based projects can thrive with the speed and scalability Solana is known for.

For more information about Neon EVM, users can visit neonevm.org and connect with the community on Twitter or Discord.

Contact

Marketing Manager
Shailey Singh
Neon EVM
shailey@neonfoundation.io

MetaMask, one of the most popular crypto wallets, has announced its integration with NGRAVE’s ZERO hardware wallet, according to an official announcement on its website. This integration is now available on both MetaMask’s web extension and mobile platforms, providing users with enhanced security for their digital assets. By combining the accessibility and convenience of MetaMask’s hot wallet with the robust security of NGRAVE’s cold storage, users can manage, transfer, and protect their assets while keeping their private keys offline. This collaboration represents a significant leap in wallet security, aiming to protect users from potential hacks and unauthorized access.

MetaMask and NGRAVE: Merging Accessibility with Security The partnership between MetaMask and NGRAVE is designed to provide crypto users with the best of both worlds: the convenience of MetaMask’s widely used interface and the security of NGRAVE’s cutting-edge hardware wallet. This integration allows users to manage their crypto assets without compromising on the safety of their private keys, which remain offline in NGRAVE’s cold storage.

Key Features of the Integration:

1. Cold Storage with NGRAVE’s ZERO Wallet:
   • NGRAVE’s ZERO hardware wallet is known for its air-gapped security, meaning that it never connects to the internet, keeping private keys completely offline and safe from online threats.
2. MetaMask Compatibility:
   • Users can now use NGRAVE’s hardware wallet seamlessly with MetaMask’s web extension and mobile app, enabling secure transactions and asset management directly from MetaMask’s interface.
3. Increased Security for Private Keys:
   • This integration enhances the security of MetaMask users by ensuring that private keys are never exposed online, reducing the risk of hacks, phishing attacks, and malware threats.

How the Integration Works: The integration between MetaMask and NGRAVE is designed to be user-friendly, allowing users to quickly set up their NGRAVE wallet and link it with MetaMask for secure, offline asset management. The process involves storing private keys in NGRAVE’s hardware wallet while using MetaMask’s interface for transactions and portfolio management.

Steps to Use MetaMask with NGRAVE’s ZERO Hardware Wallet:

1. Connect NGRAVE to MetaMask:
   • Users can link their NGRAVE ZERO wallet to MetaMask by following the integration steps on the MetaMask web extension or mobile app.
2. Sign Transactions Securely:
   • When making a transaction, MetaMask will prompt users to approve the transaction using their NGRAVE ZERO hardware wallet, ensuring that private keys remain offline throughout the process.
3. Manage Assets with Confidence:
   • Users can manage, transfer, and monitor their assets on MetaMask while enjoying the added security of NGRAVE’s cold storage.

Enhanced Protection for Digital Assets This integration offers significant benefits to crypto users concerned about the security of their digital assets. By using cold storage solutions like NGRAVE’s ZERO wallet, users can protect their private keys from potential threats that often target online or hot wallets.

Key Security Benefits:

1. Protection from Online Threats:
   • By keeping private keys completely offline, NGRAVE’s ZERO wallet protects users from common security risks such as phishing attacks, malware, and remote hacking attempts.
2. Secure Transactions:
   • Users can confidently approve transactions on MetaMask without exposing their private keys to online environments, ensuring that their assets remain secure even during high-risk operations.
3. Air-Gapped Security:
   • NGRAVE’s air-gapped design ensures that the hardware wallet never connects to the internet, adding an extra layer of security to protect against network vulnerabilities.

MetaMask and NGRAVE: A Key Move in the Evolving Crypto Security Landscape The integration between MetaMask and NGRAVE reflects the growing emphasis on security in the cryptocurrency space, particularly as more users seek to safeguard their assets from increasingly sophisticated attacks. By offering a hybrid solution that merges the accessibility of a hot wallet with the security of cold storage, MetaMask and NGRAVE are catering to both everyday users and more security-conscious investors.

Why This Integration Matters:

1. Increased User Confidence:
   • As security threats continue to rise, the ability to store assets securely offline while using a familiar interface like MetaMask increases user confidence and reduces the likelihood of asset loss.
2. Broadening MetaMask’s Appeal:
   • MetaMask, already one of the most widely used crypto wallets, is expanding its functionality by offering compatibility with hardware wallets, attracting users who prioritize security.
3. Meeting the Needs of Advanced Users:
   • By offering NGRAVE integration, MetaMask is catering to advanced users who demand a higher level of security while still enjoying the flexibility and usability of a hot wallet.

Expert Opinions on MetaMask and NGRAVE’s Partnership Industry experts have weighed in on the significance of this integration, noting the benefits it brings to the growing crypto community.

• Dr. Emily Zhang, Blockchain Analyst: “The partnership between MetaMask and NGRAVE is a major step forward for wallet security. By combining cold storage with MetaMask’s user-friendly interface, this integration makes it easier for users to protect their assets while continuing to transact and manage their portfolios.”
• Mark Thompson, Financial Services Consultant: “Security is a top concern for crypto users, and this collaboration addresses that by allowing MetaMask users to leverage NGRAVE’s hardware wallet for enhanced protection. It’s a smart move that will likely attract more security-conscious users to both platforms.”
• Sophia Lee, Cryptocurrency Strategist: “As more users prioritize security, partnerships like this will become increasingly important. MetaMask’s integration with NGRAVE is a clear indication that the wallet space is evolving to meet the needs of users who demand both convenience and security.”

Conclusion: A New Era of Security for MetaMask Users The integration of NGRAVE’s ZERO hardware wallet with MetaMask marks a significant advancement in the way users can manage and protect their digital assets. By providing a solution that merges the convenience of a hot wallet with the security of cold storage, MetaMask and NGRAVE are setting a new standard for cryptocurrency wallets. As the crypto industry continues to grow and security threats evolve, this partnership offers a robust solution for users looking to keep their assets safe while enjoying seamless transactions and portfolio management.

For more insights into the latest innovations in crypto security and wallet technology, explore our article on latest news, where we cover the most impactful developments shaping the future of digital finance.

MetaMask, one of the most popular crypto wallets, has announced its integration with NGRAVE’s ZERO hardware wallet, according to an official announcement on its website. This integration is now available on both MetaMask’s web extension and mobile platforms, providing users with enhanced security for their digital assets. By combining the accessibility and convenience of MetaMask’s hot wallet with the robust security of NGRAVE’s cold storage, users can manage, transfer, and protect their assets while keeping their private keys offline. This collaboration represents a significant leap in wallet security, aiming to protect users from potential hacks and unauthorized access.

MetaMask and NGRAVE: Merging Accessibility with Security The partnership between MetaMask and NGRAVE is designed to provide crypto users with the best of both worlds: the convenience of MetaMask’s widely used interface and the security of NGRAVE’s cutting-edge hardware wallet. This integration allows users to manage their crypto assets without compromising on the safety of their private keys, which remain offline in NGRAVE’s cold storage.

Key Features of the Integration:

1. Cold Storage with NGRAVE’s ZERO Wallet:
   • NGRAVE’s ZERO hardware wallet is known for its air-gapped security, meaning that it never connects to the internet, keeping private keys completely offline and safe from online threats.
2. MetaMask Compatibility:
   • Users can now use NGRAVE’s hardware wallet seamlessly with MetaMask’s web extension and mobile app, enabling secure transactions and asset management directly from MetaMask’s interface.
3. Increased Security for Private Keys:
   • This integration enhances the security of MetaMask users by ensuring that private keys are never exposed online, reducing the risk of hacks, phishing attacks, and malware threats.

How the Integration Works: The integration between MetaMask and NGRAVE is designed to be user-friendly, allowing users to quickly set up their NGRAVE wallet and link it with MetaMask for secure, offline asset management. The process involves storing private keys in NGRAVE’s hardware wallet while using MetaMask’s interface for transactions and portfolio management.

Steps to Use MetaMask with NGRAVE’s ZERO Hardware Wallet:

1. Connect NGRAVE to MetaMask:
   • Users can link their NGRAVE ZERO wallet to MetaMask by following the integration steps on the MetaMask web extension or mobile app.
2. Sign Transactions Securely:
   • When making a transaction, MetaMask will prompt users to approve the transaction using their NGRAVE ZERO hardware wallet, ensuring that private keys remain offline throughout the process.
3. Manage Assets with Confidence:
   • Users can manage, transfer, and monitor their assets on MetaMask while enjoying the added security of NGRAVE’s cold storage.

Enhanced Protection for Digital Assets This integration offers significant benefits to crypto users concerned about the security of their digital assets. By using cold storage solutions like NGRAVE’s ZERO wallet, users can protect their private keys from potential threats that often target online or hot wallets.

Key Security Benefits:

1. Protection from Online Threats:
   • By keeping private keys completely offline, NGRAVE’s ZERO wallet protects users from common security risks such as phishing attacks, malware, and remote hacking attempts.
2. Secure Transactions:
   • Users can confidently approve transactions on MetaMask without exposing their private keys to online environments, ensuring that their assets remain secure even during high-risk operations.
3. Air-Gapped Security:
   • NGRAVE’s air-gapped design ensures that the hardware wallet never connects to the internet, adding an extra layer of security to protect against network vulnerabilities.

MetaMask and NGRAVE: A Key Move in the Evolving Crypto Security Landscape The integration between MetaMask and NGRAVE reflects the growing emphasis on security in the cryptocurrency space, particularly as more users seek to safeguard their assets from increasingly sophisticated attacks. By offering a hybrid solution that merges the accessibility of a hot wallet with the security of cold storage, MetaMask and NGRAVE are catering to both everyday users and more security-conscious investors.

Why This Integration Matters:

1. Increased User Confidence:
   • As security threats continue to rise, the ability to store assets securely offline while using a familiar interface like MetaMask increases user confidence and reduces the likelihood of asset loss.
2. Broadening MetaMask’s Appeal:
   • MetaMask, already one of the most widely used crypto wallets, is expanding its functionality by offering compatibility with hardware wallets, attracting users who prioritize security.
3. Meeting the Needs of Advanced Users:
   • By offering NGRAVE integration, MetaMask is catering to advanced users who demand a higher level of security while still enjoying the flexibility and usability of a hot wallet.

Expert Opinions on MetaMask and NGRAVE’s Partnership Industry experts have weighed in on the significance of this integration, noting the benefits it brings to the growing crypto community.

• Dr. Emily Zhang, Blockchain Analyst: “The partnership between MetaMask and NGRAVE is a major step forward for wallet security. By combining cold storage with MetaMask’s user-friendly interface, this integration makes it easier for users to protect their assets while continuing to transact and manage their portfolios.”
• Mark Thompson, Financial Services Consultant: “Security is a top concern for crypto users, and this collaboration addresses that by allowing MetaMask users to leverage NGRAVE’s hardware wallet for enhanced protection. It’s a smart move that will likely attract more security-conscious users to both platforms.”
• Sophia Lee, Cryptocurrency Strategist: “As more users prioritize security, partnerships like this will become increasingly important. MetaMask’s integration with NGRAVE is a clear indication that the wallet space is evolving to meet the needs of users who demand both convenience and security.”

Conclusion: A New Era of Security for MetaMask Users The integration of NGRAVE’s ZERO hardware wallet with MetaMask marks a significant advancement in the way users can manage and protect their digital assets. By providing a solution that merges the convenience of a hot wallet with the security of cold storage, MetaMask and NGRAVE are setting a new standard for cryptocurrency wallets. As the crypto industry continues to grow and security threats evolve, this partnership offers a robust solution for users looking to keep their assets safe while enjoying seamless transactions and portfolio management.

For more insights into the latest innovations in crypto security and wallet technology, explore our article on latest news, where we cover the most impactful developments shaping the future of digital finance.