SAN FRANCISCO--(BUSINESS WIRE)--Eclipse is launching with Polygon, the leading Ethereum scaling protocol, to launch Polygon SVM, the first Solana-equivalent scaling solution. Polygon SVM is a Layer 2 blockchain capable of running all smart contracts and tooling compatible with Solana.
Eclipse, a Polygon Ventures portfolio company and recipient of a Solana Foundation grant, will deploy the Sealevel virtual machine (SVM) Layer 2 blockchain for Polygon SVM. With the launch, dApps built for the Solana blockchain can now easily migrate or go multichain to Polygon SVM, providing users with a faster and more efficient experience.
New Use Cases and Higher Volume for Polygon Transactions
The Solana-equivalent Polygon SVM will offer superior speed for developers building games or high throughput DeFi applications such as central limit order books, enabling new use cases and traffic for the Polygon ecosystem.
"We are thrilled to see Eclipse launch Polygon SVM on the Polygon Network, which will provide developers with a powerful new blockchain infrastructure," Urvit Goel, VP of Games and Platform at Polygon Labs. "Our vision has always been to see development of novel modular blockchain architectures, and Polygon SVM is the latest addition to the ecosystem of cutting-edge scaling solutions."
Benefits of the Polygon SVM
- Developers can now choose the SVM on Polygon
- Leverages the security of the existing Polygon network while running the new blockchain
- Faster and more efficient experience
Eclipse is a customizable Layer 2 (rollup) provider that allows blockchain infrastructure developers to choose between different virtual machines, including the Sealevel virtual machine. Its rollup technology enables developers to run a new blockchain while leveraging the security of existing networks such as Polygon.
"We're excited to build on Polygon and develop superior scaling solutions," said Neel Somani, CEO of Eclipse. "Polygon SVM is a first-of-its-kind collaboration between the Polygon and Solana communities."
Polygon Labs previously acquired the Hermez Network (now Polygon Hermez) to develop the first EVM-equivalent zero-knowledge rollup. Polygon Labs later acquired the Ethereum scaling startup Mir. Polygon Avail, a blockchain that is focused on data availability (ordering and recording blockchain transactions), will provide security for Polygon's Eclipse chain.
Last year, Eclipse announced its $15 million fundraise led by Polychain and Tribe Capital. Since then, the Eclipse team has developed a zero-knowledge Sealevel virtual machine proof-of-concept. The Eclipse developer documentation describes the customizations that it supports. Over 100 projects have expressed interest in deploying to Eclipse chains.
The testnet for Polygon SVM is slated for release in late Q1 2023, with the mainnet launch to follow in the summer.
Notes to the Editor
- Layer 2 refers to blockchains built on top of a base blockchain layer which is known as Layer 1.
- Virtual machines such as the Ethereum virtual machine (EVM) or Sealevel virtual machine (SVM) execute smart contracts.
- Modular blockchains share infrastructure with other blockchains to perform one of their critical functions for operation.
- Zero-knowledge proofs or zk-rollups use advanced cryptography, and this cryptography validates that computation is done in the correct way following certain rules.
About Polygon Labs
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 218 million, over 1.15 million smart contracts created and 2.42 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.
If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon’s fast and secure txns for dApps you develop, get started here.
Eclipse, a customizable rollup provider based in San Francisco, CA was founded in 2022 by Neel Somani. Designed for developers building some of blockchain's most unique use cases, Eclipse challenges the current constraints and limitations presented by existing blockchain technologies. Featuring a novel architecture that allows for decentralized applications to act as their own sovereign chain, Eclipse enables developers to deploy customizable chains without the hassle of managing infrastructure and security. Developers who are interested in Eclipse's technology can sign up for the mailing list on Eclipse's website and follow Eclipse's Twitter.