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DGAP-News: Advanced Blockchain AG
/ Key word(s): Cryptocurrency / Blockchain/Expansion
Advanced Blockchain AG Has Invested in Neon Labs via its Subsidiary
11.11.2021 / 12:49
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), through a subsidiary, has invested in Neon Labs. This company has created the Neon EVM, an Ethereum Virtual Machine (EVM) on the Solana blockchain that enables decentralized application (dApp) developers to use Ethereum tooling to scale and access liquidity on Solana.
Neon Labs (https://neon-labs.org/) introduces Neon EVM, a cross-chain solution that allows dApp developers to access the advantages of Solana. This tool allows Ethereum-like transactions to be processed on Solana and take full advantage of the functionality native to Solana. This includes the ability to execute transactions in parallel. As such, Neon EVM allows dApps to operate with low gas fees, high transaction speeds, and a high throughput thanks to their location on Solana, while also offering access to the growing Solana market. This additionally creates a fully Ethereum-compatible environment on Solana.
Through these benefits, the Neon EVM helps dApps to expand their services, offering arbitrage or high-frequency trading, growth within a project's user base, and decreased costs where possible, including gas fees.
Solana is designed to support massive scaling of dApps with a maximum throughput of more than 50,000 transactions per second (TPS). To secure full advantage of Solana's functionality, Neon EVM is built as a smart contract of Solana. This flexibility ensures that Neon EVM can be updated with ease whenever new Ethereum features are introduced. Their solution allows any Ethereum application to be run on Solana without any changes to its codebase, including popular Ethereum-based protocols like Uniswap, SushiSwap, 0x, and MakerDAO. All key Ethereum dApp development and deployment tools can also work on Solana, including Solidity, MetaMask, Remix, and Truffle.
This investment adds to Advanced Blockchain AG's portfolio of promising cross-chain solutions and pushes forward innovation within the blockchain industry. Additional information on Advanced Blockchain AG and its other projects and investments can be found online at www.advancedblockchain.com
11.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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