Ripple has announced the launch of a new EVM-compatible sidechain that is integrated into the main XRP Ledger. This move aims to enhance the interoperability of the XRP ecosystem and simplify the deployment of decentralized applications for developers.
Goals and Benefits of the Integration
The new sidechain is designed to increase the interoperability of the XRP ecosystem and allows developers to easily develop their Ethereum-oriented decentralized applications (dapps) on the XRP Ledger. According to Ripple, this solution provides developers with access to the XRP ecosystem at a low cost, as well as the ability to combine the benefits of XRPL’s payment infrastructure with Ethereum applications.
Technical Features of the New Sidechain
The sidechain supports EVM-compatible smart contracts while maintaining a connection to the XRP Ledger. It operates as an independent blockchain running parallel to the XRP Ledger, with the connection provided via the Axelar protocol. XRP will be used as the native gas token for transactions on the sidechain.
Opinions and Future of the Ecosystem
According to David Schwartz, CTO of Ripple and co-founder of XRPL, "XRPL EVM Sidechain provides a flexible environment for developers to deploy EVM-based applications while maintaining a connection to the efficiency of XRPL." The development is also planned to be integrated with another interoperability protocol, Wormhole.
The integration of the EVM-compatible sidechain marks an important step for Ripple in enhancing compatibility and expanding the capabilities of the XRP network, opening new horizons for developers and users.
