Eclipse to Launch Rollup Blockchain for Polygon Network with Solana Compatibility
Customizable rollup provider Eclipse announced that the startup is launching a scaling solution that is compatible with Solana and Polygon. Eclipse disclosed that the Layer 2 blockchain can run smart contracts on Solana, and decentralized applications (dapps) will be easily migratable to the Polygon Sealevel Virtual Machine (SVM). How Eclipse’s L2 Scaling Concept Hopes to Improve Blockchain Efficiency
On Thursday, rollup provider Eclipse announced that the startup is collaborating with the Polygon team to launch the Polygon Sealevel Virtual Machine (SVM). Eclipse noted that the Polygon SVM will add new use cases and traffic to the Polygon ecosystem. Furthermore, the technology will leverage the security of Polygon and aims to provide a faster and more efficient experience.
Eclipse works with customizable rollups, a Layer 2 (L2) scaling concept that combines a large number of transactions to validate them all at once offchain, before committing them back to the blockchain. Rollup concepts aim to improve scalability, reduce fees, and maintain the security and decentralization benefits of the underlying blockchain network.
“Ethereum was obviously still really slow and still very expensive, so it was very obvious rollups were the path to scaling Ethereum,” Neel Somani, the founder of Eclipse explained to Techcrunch. “So we were thinking, what if we made a highly parallelized rollup, but the difference is that we stick to a standard set of tooling that already exists like the Solana Virtual Machine or Ethereum Virtual Machine (EVM).”
Eclipse raised $15 million last year and is backed by Polychain, Tribe Capital, Struck Crypto, Soma Capital, Tabiya, and Galileo. The startup is also a grant recipient of the Solana Foundation and has worked with Celestia, Eigenlayer, and Near. Somani, a former Terra blockchain developer, worked on Terranova, a Terra-based Ethereum Virtual Machine (EVM) project before the Terra ecosystem collapsed. Tags in this story Blockchain, Decentralization, decentralized applications, Eclipse, Ethereum, EVM, Fees, Grant Recipient, Highly Parallelized, layer 2, Neel Somani, network, Polychain, Polygon, rollup, Scalability, Scaling, Sealevel Virtual Machine, Security, Smart Contracts, Solana, Soma Capital, Standard Set of Tooling, Struck Crypto, SVM, Terra, Terra-based, traffic, Tribe Capital, use cases, Virtual Machine
What do you think about the new project being developed by Eclipse? Share your thoughts in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Litecoin Network Adopts Ordinal Inscriptions, Following Bitcoin"s Lead TECHNOLOGY | 2 days ago Ethereum Plans ‘Shapella’ Transition on Zhejiang Testnet — Dev Insists "Withdrawals are Coming" TECHNOLOGY | Feb 6, 2023
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