Eclipse Labs, the team behind the world’s first Ethereum Layer 2 solution to harness the Solana Virtual Machine (SVM), is gearing up for a groundbreaking launch in October. With the mainnet rollout expected at the end of the month, this innovative project, dubbed “Solana on Ethereum,” aims to tackle some of the biggest challenges in the blockchain world.
The launch of Solana on Ethereum could be a game-changer, bringing together the best features of leading blockchains. Eclipse CEO Vijay Chetty, speaking at the recent Solana Breakpoint conference in Singapore, shared the team’s vision with journalists. “We’re launching our public mainnet toward the end of October. Right now, we’re on the developer mainnet, allowing developers and builders to test the system, although we haven’t yet enabled user interfaces,” Chetty revealed.
The strategic aim of Solana on Ethereum is clear: to bring Web2 scale to Web3 applications. By leveraging Ethereum’s secure framework, Solana’s swift transaction processing, and Celestia’s efficient data storage, Eclipse hopes to overcome the challenges that have limited blockchain scalability and adoption. “This is a vision that we very much subscribe to. We want to combine the best of these technologies to create a superior blockchain experience,” Chetty stated.
Addressing the Limitations of Solana and Ethereum
One of the driving forces behind the development of Solana on Ethereum is the need to address the shortcomings of both Solana and Ethereum, as Chetty pointed out. Solana, while known for its speed, has faced criticisms for its decentralisation constraints. On the other hand, Ethereum’s slower transaction throughput on its base layer has hampered its ability to scale effectively. “Solana’s decentralisation issues and Ethereum’s slower base-layer transactions have held back both blockchains from achieving mainstream success,” Chetty said.
The introduction of Solana on Ethereum seeks to circumvent these problems by combining Solana’s performance with Ethereum’s robust security. This could create a powerful ecosystem that outshines existing solutions, according to Chetty. “We want to avoid the limitations that have plagued Solana and Ethereum. Solana on Ethereum will be able to achieve high transaction speeds without sacrificing the decentralisation and security that Ethereum offers.”
The Role of Celestia in the Eclipse Ecosystem
While many Layer 2 solutions store data off-chain to reduce costs, Solana on Ethereum is integrating Celestia, a layer-1 blockchain optimised for data availability. This will allow Eclipse to maintain decentralisation while ensuring data storage remains cost-effective. “Many blockchains store data off-chain due to high costs, but by using Celestia, we’re aiming to offer a fully decentralised and scalable solution without compromising on data storage,” Chetty explained.
The integration of Celestia is one of the defining features of Solana on Ethereum. It is this combination of Ethereum, Solana, and Celestia that makes the project unique in the growing Ethereum Layer 2 ecosystem. As Chetty noted, “We believe that by blending the best components from each, we can provide a better user experience and scalable infrastructure for developers and users alike.”
Competing in the Cut-Throat Ethereum L2 Market
Despite the optimism surrounding the launch of Solana on Ethereum, Eclipse will face intense competition in the Ethereum Layer 2 space. The market is currently dominated by heavyweights such as Arbitrum One, Base, and Optimism’s OP Mainnet, which collectively hold billions of dollars in total value locked (TVL). According to data from L2BEAT, Arbitrum leads with $13.7 billion in TVL, followed by Base with $6.5 billion and OP Mainnet with $6 billion.
Chetty acknowledged the stiff competition but believes Eclipse’s unique approach will set it apart. “We are fully aware of the competition in the Ethereum Layer 2 space, but Solana on Ethereum brings something different to the table. Our integration of existing Solana blue-chip apps like Mango, Orca, and Solend will help attract users and developers to our platform,” he explained. These apps, he added, will be rebranded and integrated into Eclipse, offering new functionality and expanding the project’s appeal.
Solana on Ethereum: Native Apps and Expanded Ecosystem
In addition to integrating popular Solana apps, Eclipse plans to build several native applications for the Solana on Ethereum ecosystem. This will help the platform gain traction and offer developers a new playground for innovation. “We’re committed to building a rich ecosystem within Solana on Ethereum, and we’re working on several native apps that will take full advantage of the platform’s capabilities,” Chetty confirmed.
The introduction of native apps and the integration of Solana’s blue-chip applications are part of Eclipse’s broader strategy to compensate for lost ground in the Ethereum Layer 2 race. The aim is to attract developers who want the speed and low costs of Solana while enjoying the security and decentralisation of Ethereum.
The Road Ahead for Solana on Ethereum
As the blockchain industry continues to evolve, the launch of Solana on Ethereum is a significant development. By combining the strengths of Solana, Ethereum, and Celestia, Eclipse is set to provide a scalable, secure, and efficient solution for Web3 applications. “We’re confident that Solana on Ethereum will not only solve the current challenges of blockchain scalability but also pave the way for new innovations,” Chetty concluded.
With the public mainnet launch scheduled for October, all eyes will be on Solana on Ethereum as it enters the highly competitive Ethereum Layer 2 market. Whether it can rise to the challenge and carve out a unique niche remains to be seen, but the project’s ambition and vision are undeniable.
