Eclipse has made its debut as the pioneering layer-2 network that merges functionalities of Ethereum and Solana within a single blockchain environment. This new platform enables users to execute transactions on Ethereum more swiftly and at a lower cost by utilizing the Solana Virtual Machine (SVM). Similar to other Ethereum layer-2 solutions, Eclipse aggregates transactions and finalizes them on the Ethereum mainnet.
At its launch on November 7, the Eclipse Foundation announced the integration of popular decentralized projects such as the automated market maker Orca and the lending protocol Save. The network boasts an initial offering of 60 decentralized applications (DApps) and service providers across various domains, including decentralized finance (DeFi), consumer applications, and gaming.
The aim of Eclipse is to empower developers from both Ethereum and Solana ecosystems, providing an unprecedented capability to build and scale their DApps. By bridging the two prominent blockchain networks, Eclipse aspires to unlock new opportunities for developers and users alike.
Ethereum is recognized for its extensive decentralization, housing over $500 billion in on-chain assets, while Solana is celebrated for its high throughput and economical transaction rates. Eclipse claims to offer the advantages of both ecosystems, facilitating communication between DApps on the Ethereum layer-2 and native applications on the Solana network.
Financial backing for Eclipse has come from a variety of significant industry investors, with a recent $50 million Series A funding round led by Placeholder and Hack VC, bringing the total funding raised to $65 million. The project has also received investment from various angel and strategic investors, including notable figures from the blockchain community.
However, the project faced challenges earlier this year when its previous CEO, who was accused of sexual assault, resigned amidst the controversy. Following his departure, the leadership transitioned to Vijay Chetty, who had served as Eclipse’s chief growth officer prior to taking the reins.
