SolanaVM is Bringing 68 Billion Value EVM dApps to Solana, With Their EVM Compatible L2 Chain
London, UK, May 8th, 2024, Chainwire
In a world where decentralized finance (DeFi) operates with unprecedented speed, transactions are completed in nearly real-time, and transaction fees are significantly reduced from current rates. This vision is not merely aspirational; it is the future being constructed by SolanaVM.
SolanaVM focuses specifically on bridging the gap between Ethereum, the current leader in DeFi, and Solana, a high-speed blockchain network. The total Value Locked on EVM is currently over 68,000,000,000, now imagine them being available on Solana.
Ethereum has been the go-to platform for building DeFi applications. However, its popularity has created a bottleneck. The network struggles to keep up with demand, leading to slow transaction speed and gas fees that hit user wallets, which makes DeFi less accessible to everyday users – here where it comes the SolanaVM.
SolanaVM acts as a bridge, allowing developers to seamlessly move their existing Ethereum applications to Solana. This unlocks the immense potential of Solana’s architecture, which boasts:
- Speed: Solana can handle thousands of transactions per second, compared to Ethereum’s current limit, which allows instant transactions for DeFi users.
- Significantly Lower Fees: Solana’s efficient design keeps transaction fees to a minimum, making DeFi applications more affordable for everyone.
SolanaVM isn’t just about speed and cost savings. It’s a win-win situation for both developers and users:
- Effortless Migration: Developers can migrate their Ethereum applications to Solana with minimal code changes, thanks to SolanaVM’s compatibility features.
- Familiar interface: Users can continue using the tools and interfaces they’re already comfortable with while enjoying the benefits of Solana’s high-speed network.
- A More Inclusive DeFi Ecosystem: By removing the barriers of slow speeds and high fees, SolanaVM opens the door for wider adoption and innovation within DeFi.
Users can visit SolanaVM’s website and join their Telegram Community to learn more and become part of this revolutionary movement.
SolanaVM is more than just a bridge – it’s a leap forward in DeFi technology. By leveraging the power of Solana, it holds the potential to transform interactions with applications in a decentralized environment. Updates on its progress are available on the official Twitter page.
Those interested in joining the DeFi revolution can visit SolanaVM’s website at solanavm.xyz and be part of the future
About SolanaVM
SolanaVM is a groundbreaking project founded by a team of dedicated developers passionate about the future of DeFi. Their vision is to bridge the gap between the established ecosystem of Ethereum and the power of Solana. By achieving this, SolanaVM aims to create a more efficient, accessible, and innovative landscape for DeFi.