The Neon EVM program is a smart contract on the Solana blockchain. It accepts wrapped Ethereum-like transactions and processes them on Solana.
Previously, when EVM dApps wanted to leverage low-cost solutions, they had to use a rollup or sidechain. By using Solana as the settlement layer, an EVM is well-placed to outcompete such L2 solutions. The average transaction fee for sending ETH on the Ethereum network is ~$2. The L2s offer between $0.5–$0.1, a saving of 4–20 times. In comparison, Solana’s average transaction fees are ~0.00001 SOL ($0.0002) per transaction, 10,000 times saving. Initial tests of Neon EVM in Devnet demonstrate that the protocol translates these optimiza
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