Yona Network Adopts Neon EVM to Bring Ethereum Compatibility to the Bitcoin Network

Yona Network, a Solana Virtual Machine (SVM) Bitcoin Layer 2 network, has adopted Neon Stacks to introduce Ethereum Virtual Machine (EVM) compatibility to the Bitcoin network.

Yona Network, a Solana Virtual Machine (SVM) Bitcoin Layer 2 network, has integrated Neon Stacks to introduce Ethereum Virtual Machine (EVM) compatibility to the Bitcoin network.

This collaboration aims to drive innovation in the Bitcoin DeFi ecosystem, enhancing accessibility and scalability for decentralized applications (dApps) on the primary blockchain network, as stated in a July 25 announcement shared with CryptoSlate.

At the same time, the move will also grant EVM developers and users access to over $1 trillion in liquidity and assets like Ordinals, Runes, and BRC-20s on the Bitcoin network.

Bringing Solana speed to Bitcoin

Yona Network’s SVM integration is set to introduce Solana’s high transaction-handling capability to Bitcoin. This move could attract more Ethereum and EVM-based DeFi projects to the Bitcoin network.

According to the announcement:

“By integrating SVM, Yona envisions bringing Solana’s ability to handle thousands of transactions per second onto Bitcoin, making it a modular L2 with high scalability and a coveted platform for next-generation dApps within the Bitcoin ecosystem that has deep liquidity.”

Neon Stacks, which offers Ethereum compatibility with the Solana blockchain, will support Yona’s vision. The collaboration is expected to enhance blockchain interoperability and scalability.

Davide Menegaldo, Neon EVM CCO, highlighted that the integration would broaden Yona Network’s market audience and interaction with Ethereum. He added:

“The combination of Bitcoin as the underlying layer with the SVM execution environment – merged with the EVM compatibility – represents a novelty in the modularity space, and it’s an ambitious case study. Yona’s approach leverages something good from each L1 (Ethereum, Solana, and Bitcoin) in a way never seen before.”

Max Sultakov, Yona Network’s CEO, described the integration with Neon Stacks as a revolutionary move that will transform the blockchain network into a universal programmable layer for Bitcoin. He said:

“Neon Stack is a game-changer, bringing EVM compatibility to SVM chains in an unprecedented way. This unlocks incredible potential for Yona Network, transforming it into a universal programmable layer for Bitcoin.”

Oluwapelumi Adejumo

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

Liam 'Akiba' Wright

Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.