Latest Article Neon Labs integrates Aleph.im to access cross-chain DeFi data

By November 23, 2021DeFi
Click here to view original web page at coinrivet.com

Aleph.im is used to monitor, index and query billions of transaction data points weekly between the Ethereum and Solana blockchains

Neon labs is integrating Aleph.im – a cross-chain computing network and decentralised index provider – to enable access to the vast swathes of cross-chain DeFi data available on the protocol.

By using Aleph.im, Neon – an ‘Ethereum virtual machine’ (EVM) that enables dApps on Ethereum to build and run on Solana – can oversee transaction speed metrics, operator node stats and in-depth insights into smart contracts operating on Neon.

According to Neon, the integration brings “increased transparency and usability” to the platform as developers building an EVM can use the data to track historical data such as transfers, deposits and withdrawals with ease.

Many DeFi protocols on Solana already use Aleph.im to source historical transaction data and provide easier data queries for their users, which include Raydium, Serum and Orca.

Aave, the leading lending and borrowing platform in the DeFi space, has committed to using Neon to deploy an EVM on Solana – meaning Aave will be made accessible via the Solana blockchain when launched.

Neon also recently raised $40 million in funding to bring further EVM functionality to Solana and is preparing to launch its mainnet in November.

Jonathan Schemoul, founder of aleph.im, spoke exclusively to Coinrivet about the platform’s role in developing cross-chain EVM functionality between Ethereum and Solana.

“Building this indexing solution for Neon is a pivotal moment for us. We’ve now established a leading position in Solana indexing, and it’s very exciting to be able to provide developers and dApps users of the largest Ethereum protocols a bridge into the network, cross-chain API and query across the two ecosystems,” he said.

“Together with Neon, we’re pushing boundaries for what is possible with cross-chain DeFi by shedding light on never before seen data on both Ethereum and Solana.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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