Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » Neo Unveils EVM-Compatible Sidechain to Prevent MEV Attacks and Boost DeFi

    Neo Unveils EVM-Compatible Sidechain to Prevent MEV Attacks and Boost DeFi

    0
    By jose on October 27, 2023 Blockchain News, Companies, DeFi News, News
    Neo Unveils EVM-Compatible Sidechain to Prevent MEV Attacks and Boost DeFi
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Neo, a blockchain platform that aims to create a smart economy, has announced the launch of a new sidechain called Neo N3 EVM. The sidechain is compatible with Ethereum’s EVM standard, which means that developers can easily deploy existing Ethereum smart contracts on Neo without any modifications. 

    #Neo Founder @dahongfei, announcing #Neo’s New Chapter: an #MEVFree, #EVM compatible sidechain, to ensure security, privacy, and a smooth experience in the increasingly complex #DeFi landscape.

    The sidechain is under development. The testnet is planned to be launched at the end… pic.twitter.com/EO9Ck52qGt

    — Neo (@Neo_Blockchain) October 27, 2023

    The sidechain also claims to be resistant to MEV (miner extractable value) attacks, which are a type of front-running that exploits the ordering of transactions on a blockchain. MEV attacks have become a serious problem for Ethereum and other blockchains, especially in the DeFi (decentralized finance) sector, where users can lose money or opportunities due to malicious miners or bots. 

    According to Flashbots, a research and development organization that studies MEV, the total amount of MEV extracted on Ethereum reached over $1.4 billion in September 2023.

    The New Development from Neo Aims to Enhance Security

    Neo N3 EVM aims to prevent MEV attacks by using a consensus mechanism called dBFT (delegated Byzantine Fault Tolerance), which ensures that transactions are finalized in a deterministic order and cannot be reordered or censored by validators. 

    Neo Unveils EVM-Compatible Sidechain to Prevent MEV Attacks and Boost DeFi

    Neo N3 EVM also leverages Neo’s cross-chain interoperability protocol, Poly Network, to enable seamless asset transfers between Neo and other blockchains, such as Ethereum, Binance Smart Chain, and Polygon.

    To bolster privacy and deter potential exploitation, users have the option to employ proxy contracts, which serve to mask their identities. When used in conjunction with Neo’s dBFT consensus mechanism, these strategies strive to foster a trading environment that is both secure and equitable.

    The new development is part of Neo’s vision to create a smart economy that integrates digital assets, digital identities, and smart contracts. Neo hopes that its new sidechain will attract more developers and users to its ecosystem and foster the growth of DeFi applications on its platform. 

    The company also plans to launch more sidechains in the future that will support different programming languages and standards.

    DeFi Featured NEO
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    jose

    Related Posts

    WLFI plummets: traders bet on new lows after a 47 million burn and weakened demand

    September 3, 20252 Mins Read

    Ondo Finance launches more than 100 tokenized stocks and ETFs to expand on‑chain access

    September 3, 20253 Mins Read

    CFTC gives green light to QCX: Polymarket returns to the U.S. through a regulated vehicle

    September 3, 20253 Mins Read

    HBAR rises 3% after volume spike: technical signals point to a possible breakout

    September 3, 20253 Mins Read

    PayPal enables crypto for 650 million users: what really changes

    September 3, 20253 Mins Read

    Lido launches GG Vault: one-click access to DeFi yields for ETH and staked‑ETH

    September 3, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.