Yona Network incorporates Solana and Ethereum functionalities into Bitcoin network
Yona Network, a network based on Solana Virtual Machine (SVM) for Bitcoin Layer 2, has integrated Neon Stacks to bring Ethereum Virtual Machine (EVM) compatibility to the Bitcoin network.
In a statement dated July 25 and shared with CryptoSlate, the collaboration’s primary goal is to foster innovation within the Bitcoin DeFi ecosystem, while also improving accessibility and scalability for decentralized applications (dApps) on the leading blockchain network.
This strategic move will not only provide EVM developers and users access to a pool of over $1 trillion in liquidity but also enable them to leverage assets such as Ordinals, Runes, and BRC-20s on the Bitcoin network.
The integration of Yona Network’s SVM is poised to introduce Solana’s high transaction processing capacity to Bitcoin, potentially attracting more Ethereum and EVM-based DeFi projects to the Bitcoin ecosystem.
According to the statement, Yona aims to leverage Solana’s capability of processing thousands of transactions per second on Bitcoin, transforming it into a modular L2 solution with high scalability, making it an attractive platform for next-generation dApps within the Bitcoin ecosystem, which already boasts deep liquidity.
Neon Stacks, known for offering Ethereum compatibility with the Solana blockchain, will play a key role in supporting Yona’s vision. This collaboration is expected to enhance blockchain interoperability and scalability.
Davide Menegaldo, Neon EVM CCO, emphasized that the integration would expand Yona Network’s market reach and interaction with Ethereum. He highlighted the significance of combining Bitcoin as the foundational layer with the SVM execution environment, merged with EVM compatibility, as a pioneering approach in the modularity space, representing an ambitious case study that leverages the strengths of Ethereum, Solana, and Bitcoin in a unique manner.
Max Sultakov, CEO of Yona Network, described the integration with Neon Stacks as a groundbreaking move that will revolutionize the blockchain network into a universal programmable layer for Bitcoin. He emphasized that Neon Stack’s introduction of EVM compatibility to SVM chains unlocks significant potential for Yona Network, transforming it into a versatile programmable layer for Bitcoin.
This development signifies a significant step towards enhancing the capabilities and interoperability of the Bitcoin network, paving the way for a more robust and versatile ecosystem for decentralized applications and DeFi projects.
