- Eclipse merges Ethereum’s decentralization with Solana’s speed, offering efficient, low-cost transactions.
- With 60 DApps at launch, Eclipse expands access to DeFi, gaming, and consumer apps in a unified network.
- Backed by $65M, Eclipse bridges Ethereum and Solana, boosting cross-chain app functionality for developers and users.
Eclipse, the latest layer-2 network that merges Ethereum with Solana’s technology, has officially launched. This network lets users transact on Ethereum more efficiently by employing the Solana Virtual Machine to execute transactions.
Similar to other Ethereum layer-2 networks, Eclipse bundles transactions and finalizes them on the Ethereum mainnet, making them faster and more cost-effective.
Expansive Partnerships and DApp Support
The Eclipse Foundation revealed that its new network is already integrated with popular decentralized applications. These include the automated market maker Orca and lending protocol Save. At launch, the network boasts 60 DApps and service providers, spanning decentralized finance, consumer applications, and gaming.
Ethereum is known for its high level of decentralization. On the other hand, Solana has the advantage of being faster and cheaper in transactions. It attempts to bridge these two ecosystems, enabling Ethereum based DApps to interact with Solana native applications in an easy, seamless way.
Strong Financial Backing Amid Controversy
Eclipse has secured substantial funding, having closed a $50 million Series A round led by Placeholder and Hack VC in March. This round, along with prior investments, has brought Eclipse’s total funding to $65 million. Notable backers include Solana co-founder Anatoly Yakovenko, Helius CEO Mert Mumtaz, and blockchain investigator ZachXBT, among others.
Despite this progress, it has faced challenges. In May, then-CEO Neel Somani resigned following allegations of s****l assault. Although no charges were filed, Somani’s departure led to Chetty, Eclipse’s former chief growth officer, stepping into the CEO role immediately.
Eclipse’s launch underscores the increasing demand for blockchain networks that enhance both performance and affordability by integrating multiple ecosystems.
The post Eclipse Blockchain Network Launches, Merging Ethereum and Solana Capabilities for Faster, Cheaper Transactions appeared first on Crypto News Land.
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