- Dual Advancements in Programmability
- XRPL EVM Sidechain Development
- Enhanced Programmability in 2025
Ripple has announced the introduction of smart contracts on the XRP Ledger mainnet. This move will expand the blockchain's capabilities by adding features for NFTs, AMMs, and decentralized exchanges.
Dual Advancements in Programmability
The enhancements to XRP Ledger's programmability will come through two key developments:
1. **Native Smart Contracts on XRP Ledger Mainnet**: Currently in the research phase, this upgrade will enable smart contract functionality directly on the mainnet. 2. **XRPL EVM Sidechain**: Expected to be deployed in the coming months, the EVM Sidechain will provide Ethereum compatibility to the XRP ecosystem, allowing developers to use familiar Ethereum tools and programming languages.
XRPL EVM Sidechain Development
In collaboration with Peersyst, the XRPL EVM Sidechain brings Ethereum compatibility to the XRP ecosystem. This sidechain will allow developers to use Ethereum's tools and languages, making it easier to build and deploy smart contracts.
A key feature of this sidechain is its ability to connect with over 55 other blockchains through the Axelar bridge, enabling transactions and interactions between the XRPL EVM Sidechain and other blockchain networks. Wrapped XRP (eXRP) will act as the native asset and gas token on the sidechain.
Enhanced Programmability in 2025
Ripple's advancements are expected to impact the cryptocurrency landscape in 2025. The introduction of smart contracts and the XRPL EVM Sidechain will address the needs of both institutional DeFi users and developers, allowing for more tailored and innovative solutions.
Jasmine Cooper, Ripple’s Head of DeFi Product, recently talked about a new token standard: multi-purpose tokens (MPTs), according to a Sept. 2 The Crypto Basic report. These tokens are designed for real-world assets and enable the storage of metadata directly with the asset, enhancing scalability and flexibility, making XRPL more suitable for institutional use cases.
Ripple aims to enhance the functionality and capabilities of the XRP Ledger by introducing smart contracts and an EVM Sidechain, which are expected to significantly impact the cryptocurrency market by 2025.
