- Subsquid partners with Neon EVM, enhancing Solana with robust data querying.
- Integration features Ethereum compatibility and lowers costs on Solana.
- Subsquid to extend features across more blockchains.
Solana has been on the run this year, emerging as a favored platform among blockchain developers due to its speed and low transaction costs. Even as the network grapples with scalability issues, more projects are joining.
Most recently, Subsquid and Neon EVM have partnered to bring Ethereum’s capabilities to Solana, taking advantage of its fast speeds. They hope that this development will make building on Solana easier.
Subsquid Making Solana App Development Easier
On April 25, 2024, Subsquid, a platform known for its innovative approach to managing blockchain data, announced a new partnership with Neon EVM to expand its services onto the Solana blockchain. This collaboration is poised to make building applications (dApps) on Solana simpler and more efficient, particularly for developers familiar with Ethereum.
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Subsquid creates efficient data lakes that consolidate vast amounts of blockchain data into easily accessible formats. This means developers can quickly access the data they need to build, test, and deploy their decentralized applications (dApps) faster.
At the same time, Neon EVM replicates an Ethereum-like environment on Solana. This allows developers to leverage Ethereum’s extensive tools while enjoying Solana’s faster transactions and lower operational costs. Subsquid and Neon EVM hope this will simplify the transition for developers familiar with Ethereum, and lower barriers for new developers.
Deepening Integration with Ethereum’s Ecosystem
The partnership between Subsquid and Neon EVM represents a deeper integration of Solana with the broader Ethereum ecosystem. By enabling Ethereum-compatible development on Solana, more projects might consider Solana a viable platform.
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This is especially important for developers who wish to leverage the versatility and composability of Ethereum-based programming environments, while also benefitting from Solana’s trademark speeds and low fees. Notable examples include decentralized finance (DeFi) and non-fungible tokens (NFTs), where rapid data access and processing are crucial.
As more developers use Solana for Ethereum-compatible applications, there’s potential for increased liquidity and user engagement within the Solana ecosystem. This could lead to a more vibrant marketplace for tokens and digital assets, attracting developers, investors, and users to the platform.
Interestingly, the Solana Founder Anatoly Yakovenko also sees a future where the two blockchains can coexist, each building on its unique strengths. This attitude signals a multi-chain future, where compatibility between chains is crucial.
On the Flipside
- While the benefits are substantial, integrating technologies across blockchain platforms can pose challenges. These include discrepancies in security models or differences in transaction processing protocols.
- The blockchain space is highly competitive, and despite the advantages, Solana faces challenges from other blockchain networks.
Why This Matters
This showcases a tangible step towards more interoperable blockchain environments. These are essential for the next generation of blockchain applications.
Read more about Solana founder’s take on Ethereum competition:
Solana Founder Denounces ‘ETH Killer’ Label, Sees Coexistence
Read more about the latest FTX dump of Solana tokens:
FTX Auctions More Solana Tokens: What it Means for SOL
