Ripple users might be able interact with Ethereum-compatible DApps (DApps), in the future, following the launch of a phase of Ripple’s new XRP Ledger sidechain.
Peersyst Technologies shared the launch of the sidechain in a tweet on Oct. 17 and noted that it is compatible with Ethereum Virtual Machines (EVM).
Ripple users may eventually be able to access decentralized apps like Uniswap (should that port over) or Web3 wallets like Metamask and XUMM Wallet.
The cross-chain bridge that connects the EVM-supported sidechain to the XRP Ledger Devnet is also included in the new sidechain. It allows for the transfer of XRP and other assets.
Mayukha Vadari (RippleX software engineer) said that the release “means developers don’t have to choose between XRPL and EVM-compatible Blockchains.”
He said that developers will be able access XRPL’s low-cost, fast transactions and can bring Solidity-based smart contract onto XRPL.
Sidechain compatible with EVMs based on XRP was created by the Tendermint protocol and aims at processing 1000 transactions per second (TPS).
Tomorrow, we’ll publish a #XRPLcommunity user guide to help them test and use the #EVMsidechain as well as create their $XRP accounts via @MetaMask
— October 17, 2022, Peersyst Technology (@Peersyst).
Vadari pointed out that the first phase EVM sidechain is currently available for testing on XRPL Devnet. Phase 2 will see the EVM-compatible sidechain transform to an “permissionless”, chain with better scalability.
Vadari stated that the goal is to have block times comparable to the XRP Ledger’s for the second phase. This will likely happen in the early 2023.
She added that “The final goal is phase three: a permissionless EVM bridge and sidechain available on the XRPL Mainnet.”
Related: Evolve, or die: How smart contract are changing the balance of power in the crypto sector
Ripple’s XRP token, currently priced at $0.476 (up 23.86% month-over-month), didn’t seem to be affected by the news.
This announcement is made amid nearly two years of litigation against Ripple from the U.S Securities Exchange Commission (SEC), that has arguably impacted the adoption and development the global settlement network.
Ripple continues to move in the Central Bank Digital Currency space (CBDC). Ripple first piloted a CBDC Private Ledger in March. 2021 — Ripple most recently partnered in September 2022 with The Royal Monetary Authority of Bhutan.
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