London, United Kingdom, May 24, 2024, Chainwire
In a major development for the cryptocurrency industry, the SEC today approved the first ETF. Many see this decision as a possible turning point, marking the beginning of a new bull cycle for cryptocurrencies. With Ethereum paving the way for regulatory acceptance, all eyes are now on other leading projects like .
SolanaVM created L2's innovative solution that enables Ethereum dApps to take advantage of Solana's ultra-fast speed and minimal fees. This can play a huge role in the upcoming bull run as it could significantly boost the entire Solana ecosystem and developer activity in Web3.
SolanaVM recently began pre-sales of its native token, $SVM, raising over $400,000 on the first day. The pre-sale is structured in multiple rounds with progressively increasing prices. The token launch is scheduled for Q3, with 15% of the total token supply allocated for pre-sale.
Kelly, who is also the founder and CEO of BKCM Digital Asset Fund, said on an episode of CNBC: “You have to think of Solana as probably the next one. , Ethereum and Solana are probably the big three of this cycle.”
Solana VM is specifically focused on bridging the gap between Ethereum, the current leader in DeFi, and Solana, a high-speed blockchain network. The total value locked in EVM is currently over 68,000,000,000, and SVM L2 gives them the ability to reach the Solana ecosystem.
SolanaVM acts as a bridge, allowing developers to seamlessly move their existing Ethereum applications to Solana. This unlocks the immense potential of the Solana architecture, which features:
- Speed: The Solana virtual machine can handle thousands of transactions per second, compared to Ethereum's current limit, allowing instant transactions for DeFi users.
- Significantly lower rates: Solana's efficient design keeps transaction fees to a minimum, making DeFi applications more affordable for everyone.
SolanaVM is not just about speed and cost savings. It's a win-win situation for both developers and users:
- Effortless Migration: Developers can migrate their Ethereum applications to Solana with minimal code changes, thanks to Solana VM's compatibility features.
- Familiar interface: Users can continue using the tools and interfaces they are already comfortable with, while enjoying the benefits of Solana's high-speed network.
- A more inclusive DeFi ecosystem: By removing the barriers of slow speeds and high fees, SVM opens the door to broader adoption and innovation within DeFi.
Users can visit the SolanaVM website and join its Telegram community to learn more and become part of this revolutionary movement.
SolanaVM is more than just a bridge: it is a leap forward in DeFi technology. By harnessing the power of Solana, it has the potential to revolutionize interactions with decentralized applications. More updates can be followed on the official SolanaVM Twitter:
To join the DeFi revolution, the SolanaVM team invites users to visit the SolanaVM website at solanavm.xyz to become part of the future.
About SolanaVM
SolanaVM is an innovative project founded by a team of dedicated developers passionate about the future of DeFi. Their vision is to bridge the gap between the established Ethereum ecosystem and the power of Solana. By achieving this, Solana VM aims to create a more efficient, accessible and innovative landscape for DeFi.
ContactMark Walsh[email protected]
This article was originally published on Chainwire.
