Neon EVM launches Liteflow on mainnet to enhance multi-chain NFT accessibility
Posted: Feb 15, 2024 11:00 AM Updated: Feb 15, 2024 10:56 AM
Correction and fact check date: February 15, 2024, 11:00 AM
briefly
Neon EVM is deploying NFT infrastructure platform Liteflow on mainnet to improve multi-chain NFT accessibility across Solana and Ethereum.
Neon EVM, the first Ethereum Virtual Machine (EVM) on the Solana mainnet, today announced the deployment of Liteflow, its NFT infrastructure platform, on the mainnet. Neon EVM aims to make it easier for people to access non-fungible tokens (NFTs) on both Solana and Ethereum, including sidechains and layer 2 solutions (L2).
Both Neon EVM and Liteflow want to help create a future where NFTs can operate on multiple blockchains (multichain). Therefore, both players are providing developers with a platform to easily create and release NFTs on both Solana and Ethereum, including sidechains and layer 2 solutions.
“With each new deployment in our ecosystem, we look for ways for developers to combine the benefits of the Ethereum Virtual Machine with the efficiency of Solana. There are numerous benefits to the NFT and gaming sectors, and the goal is to create a vibrant and accessible decentralized ecosystem for both enterprises and end users,” said Davide Menegaldo, Head of Business Development and Ecosystem at Neon Foundation.
Additionally, Neon EVM allows issuance and transfer fees to be reduced by 90% compared to current costs on the layer 1 Ethereum chain. This is especially useful for utility NFTs, such as games that require multiple transactions.
Neon EVM and Liteflow integration method for NFT interoperability
Featuring parallel processing capabilities combined with Solana’s Sealevel technology, Neon EVM’s architecture ensures high finality and scalability for decentralized applications (dApps) operating within the ecosystem. Additionally, Neon EVM provides Ethereum developers with the opportunity to leverage their existing knowledge and infrastructure by building and deploying Neon EVM using familiar programming languages, tools, and smart contracts.
The interoperability and familiarity provided by the Neon EVM allows developers to seamlessly migrate their dApps to Solana with minimal reconfiguration and integrate with programming languages such as Solidity and Vyper, as well as popular tools such as Metamask, Hardhat, Truffle, and Remix. Compatibility can be maintained.
In addition to facilitating developer-centric solutions, Neon EVM’s ecosystem partners will benefit significantly from its parallel processing architecture and unique capabilities. Specifically, partners can improve operational efficiency and capacity by leveraging the Neon EVM feature to pay gas fees with the token of their choice, including USD Coin (USDC), Solana (SOL), and Neon (NEON).
The deployment of Liteflow on Neon EVM marks a pivotal moment in the evolution of NFT infrastructure. As the first NFT infrastructure project to be deployed on the Neon EVM, Liteflow heralds the beginning of rapid expansion focused on providing cost-efficiency and interoperability within the NFT vertical.
Liteflow’s integration into Neon EVM’s ecosystem sets the stage for an innovative journey toward a multi-chain NFT future featuring improved accessibility, cost-effectiveness, and interoperability across blockchain networks.
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About the author
Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.