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February 15, 2024

Neon EVM Debuts Liteflow on Mainnet to Bolster Multichain NFT Accessibility

In Brief

Neon EVM deploys NFT Infra-platform Liteflow on its mainnet to enhance multichain NFT accessibility across Solana and Ethereum.

Neon EVM Debuts Liteflow on Mainnet to Bolster Multichain NFT Accessibility

Neon EVM, the first Ethereum Virtual Machine (EVM) live on Solana mainnet today announced that it has deployed Liteflow, an NFT infrastructure platform on its mainnet. Neon EVM aims to ease people’s access NFTs (Non-Fungible Tokens) on both Solana and Ethereum including their sidechains and L2s (Layer 2 solutions).

Both Neon EVM and Liteflow want to help create a future where NFTs can work on different blockchains (multichain). Hence, both the players are providing developers with a platform to easily make and release NFTs on both Solana and Ethereum, including their sidechains and Layer 2 solutions.

“With each new deployment on our ecosystem, we look at ways to empower developers to merge the strengths of Ethereum Virtual Machine with Solana’s efficiency. The benefits are multitude for the NFT and gaming verticals, and the aim is to create a vibrant and accessible decentralized ecosystem for businesses and end users alike,” said Davide Menegaldo, head of business development and ecosystem at Neon Foundation.

Additionally, using Neon EVM may reduce mint and transfer fees by 90% compared to current costs on the Layer 1 Ethereum chain, which is particularly beneficial for utility NFTs like those in gaming that require multiple transactions.

Neon EVM and Liteflow Integration Pave Way for NFT Interoperability

Neon EVM’s architecture, characterized by parallel processing capabilities, combined with Solana’s Sealevel technology, ensures high finality and scalability for decentralized applications (dApps) operating within its ecosystem. Furthermore, Neon EVM offers Ethereum developers the opportunity to leverage their existing knowledge and infrastructure by building and deploying on Neon EVM using familiar programming languages, tools, and smart contracts.

The interoperability and familiarity provided by Neon EVM enable developers to seamlessly migrate dApps to Solana with minimal reconfigurations, maintaining compatibility with programming languages such as Solidity and Vyper, as well as popular tools like Metamask, Hardhat, Truffle, and Remix.

In addition to facilitating developer-centric solutions, Neon EVM’s ecosystem partners stand to benefit significantly from its parallel processing architecture and unique features. Notably, partners can leverage Neon EVM’s capability to pay gas fees in tokens of their choice, including USD Coin (USDC), Solana (SOL), and Neon (NEON), thereby enhancing their operational efficiency and capabilities.

Liteflow’s deployment on Neon EVM marks a pivotal moment in the evolution of NFT infrastructure. As the first NFT infrastructural project to deploy on Neon EVM, Liteflow heralds the beginning of a rapid expansion focused on delivering cost efficiencies and interoperability within the NFT vertical.

With Liteflow’s integration into Neon EVM’s ecosystem, the stage is set for a transformative journey towards a multichain NFT future, characterized by enhanced accessibility, cost efficiencies, and interoperability across blockchain networks.

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About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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