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.
According to a July 25 statement shared with CryptoSlate, this collaboration aims to drive innovation in the Bitcoin DeFi ecosystem while enhancing accessibility and scalability for decentralized applications (dApps) on the foremost blockchain network.
At the same time, the move will also give 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 bring 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 statement:
“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.”