thenewscrypto.com
The Solana-powered Neon EVM and Web3 data lake and query engine Subsquid have announced an upcoming collaboration that will make it simpler for dApp developers to access the on-chain data of Neon EVM. The collaboration is the first phase of Subsquid’s much anticipated Solana blockchain expansion.
Subsquid is a cutting-edge query engine and decentralized data lake designed with scalability and usefulness in mind. A safe substitute for centralized infrastructure companies such as API providers is offered by Subsquid.
Its partners include Manta Network, Parity, and Enjin. It provides blockchain indexing, app development, and analytics. With Neon EVM’s assistance, the network will now support Solana in addition to Ethereum, its L2s, and Substrate (Polkadot and Kusama).
Subsquid will integrate Neon EVM on-chain data into its decentralized data lake, which is secured by ZK proofs, as part of the agreement. Developers will have an easier time developing dApps on Neon as a result of this easy access to existing information.
A smart contract built on Solana, Neon EVM provides an environment entirely compatible with Ethereum. It provides Ethereum solutions, such as infrastructure and tools, accounts and signatures, and token standards (ERC-20 tokens), without any of the drawbacks that have historically come with Ethereum, such as high gas costs, a lack of liquidity, and protracted wait times.
Neon EVM offers faster transactions, reduced costs, more liquidity, scalability, and exclusive capabilities not found on Ethereum since it runs on Solana.
Subsquid’s roadmap for the first quarter of 2024 included the key step of expanding to the Solana network. Subsquid still aims to reveal further upgrades this year, including as the launch of a mainnet, Cosmos support, and permissionless dataset submission, even while Solana expansion is crossed off its to-do list for 2024.