{"id":99154,"date":"2024-11-08T01:42:35","date_gmt":"2024-11-08T05:42:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=99154"},"modified":"2024-11-08T01:42:40","modified_gmt":"2024-11-08T05:42:40","slug":"eclipse-first-ethereum-l2-on-solana-goes-live","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/eclipse-first-ethereum-l2-on-solana-goes-live\/","title":{"rendered":"Eclipse, First Ethereum L2 based on Solana Goes Live"},"content":{"rendered":"\n

Eclipse, the first layer-2 network<\/a> that integrates Ethereum and Solana into a single blockchain, has been launched.<\/p>\n\n\n\n

\"Eclipse,
Eclipse, First Ethereum L2 based on Solana Goes Live<\/em><\/figcaption><\/figure>\n\n\n\n

Eclipse's network\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> launch on November 7 was one of the most anticipated network debuts of the year, as the hybrid blockchain project had already secured over $65 million in funding.<\/p>\n\n\n\n

Eclipse Network Launch On Ethereum<\/h3>\n\n\n\n

The newly launched network enables users to execute transactions on Ethereum at a quicker and more cost-effective pace by utilizing the Solana Virtual Machine (SVM)<\/a>. The network consolidates transactions and resolves them on the Ethereum mainnet, as is the case with other Ethereum L2s.<\/p>\n\n\n\n

The Foundation has announced the inclusion of “other top projects,” including the automated market maker Orca and the lending protocol Save, into the network.<\/p>\n\n\n\n

The network also announced that it will provide 60 Decentralized applications<\/a> (DApps) and service providers across a variety of sectors, such as decentralized finance (DeFi), consumer apps, and gaming, at its launch on Nov. 7.<\/p>\n\n\n\n

https:\/\/twitter.com\/EclipseFND\/status\/1854569797222072463<\/use><\/svg><\/span><\/a><\/p>\n\n\n\n

The CEO Vijay Chetty stated in a statement, “Our objective is to enable developers from both ecosystems to build and scale their dApps in a manner that has never been done before, thereby unlocking new opportunities across the largest networks in the industry.”<\/p>\n\n\n\n

\n

\u201cEclipse is uniquely positioned as the first solution to bridge the gap between Solana and Ethereum, offering a powerful platform that caters to both communities.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Ethereum is most renowned for its robust decentralization and boasts over $500 billion in on-chain assets, whereas Solana is valued for its speed and low transaction costs.<\/p>\n\n\n\n

The Eclipse Foundation asserts that the network will offer users and developers the “best of both worlds,” enabling DApps on the Ethereum L2 <\/a>to communicate with native Solana applications.<\/p>\n\n\n\n

\"Eclipse
Eclipse offers users Solana\u2019s speed with Ethereum\u2019s liquidity. Source: Eclipse<\/em>
<\/figcaption><\/figure>\n\n\n\n

The network's total funding has now reached $65 million, following the completion of a $50 million Series A funding round led by Placeholder and Hack VC on March 11. The project has received funding from a wide range of key industry players.<\/p>\n\n\n\n

Additionally, the initiative received strategic and angel funding from a number of investors, such as Helius CEO Mert Mumtaz, independent blockchain sleuth ZachXBT, and Solana co-founder Anatoly Yakovenko.<\/p>\n\n\n\n

In May, the initiative was tainted by controversy when its former CEO, Neel Somani, resigned after being accused of sexual assault. Somani has not been charged in connection with the allegations.<\/p>\n\n\n\n

It was immediately after Somani's departure from Eclipses that Chetty, who was previously the company's chief growth officer, succeeded him.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Eclipse, the first layer-2 network that integrates Ethereum and Solana into a single blockchain, has been launched. Eclipse’s network launch on November 7 was one of the most anticipated network debuts of the year, as the hybrid blockchain project had already secured over $65 million in funding. Eclipse Network Launch On Ethereum The newly launched […]<\/p>\n","protected":false},"author":59,"featured_media":60026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[16525,19074,275],"class_list":["post-99154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eclipse","tag-ethereum-l2","tag-solana"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/Eclipse_.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/99154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=99154"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/99154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/60026"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=99154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=99154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=99154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}