Ripple has announced significant advancements in blockchain technology in Korea and Japan, including the introduction of smart contracts on the XRP Ledger Mainnet and the development of an EVM sidechain.
Smart Contracts on XRP Ledger
Ripple has announced that smart contracts will soon be introduced to the XRP Ledger Mainnet. This development will enable features such as NFTs, automated market makers (AMMs), decentralized exchanges (DEXs), and more, directly on Layer 1. This upgrade is expected to enhance XRPL's capabilities and make it a versatile platform for various applications.
EVM Sidechain for XRP Ledger
In addition to smart contracts, Ripple is set to launch the XRPL Ethereum Virtual Machine (EVM) Sidechain in the coming months through 2025. This sidechain will bring further programmability and support a range of new applications, complementing the upcoming smart contract features.
Partnership with Futureverse
Ripple has secured a key partnership with Futureverse, a firm specializing in AI and metaverse technology. This collaboration will see Ripple Custody providing secure asset storage solutions for Futureverse, which is integrating XRP as the gas token on the Root Network and leveraging the XRP Ledger (XRPL) NFT standard. Additionally, Futureverse's connection to XRPL's decentralized exchange (DEX) will boost network liquidity, reflecting Ripple's commitment to merging blockchain technology with cutting-edge innovations.
Ripple has also committed $1 billion to strengthen the XRPL ecosystem, with substantial investments focused on Japan and South Korea. The partnerships and technological advancements underscore Ripple's confidence in these regions as key players in blockchain innovation.
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