Neon EVM (NEON) is a project that enables Ethereum-based applications to run within a Solana environment by introducing Ethereum Virtual Machine (EVM) compatibility. This allows developers to seamlessly deploy existing Ethereum dApps onto the Solana network.
One key difference between Neon EVM and Ethereum’s EVM is how they handle transactions. Ethereum processes smart contracts one after another to ensure consistency and predictability. In contrast, Neon EVM takes advantage of Solana’s ability to run transactions in parallel, allowing multiple smart contracts to be executed at the same time.
The NEON token is the native utility and governance token of the Neon EVM ecosystem. It is used to pay for gas fees on the network when executing transactions. In addition to covering operational costs, NEON can also be used for governance, allowing token holders to vote on proposals that influence the development and direction of the platform.