- Dual Advancements in Programmability
- Enhancing Mainnet Functionality
- XRPL EVM Sidechain Development
Ripple has officially announced the introduction of smart contracts on the XRP Ledger mainnet. This innovation will significantly expand the blockchain's capabilities to include features for NFTs, AMMs, and decentralized exchanges (DEXs).
Dual Advancements in Programmability
The enhancement of 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. This addition will allow developers to create custom solutions without requiring broad community consensus or changes to the core network.
2. **XRPL EVM Sidechain**: Slated for deployment in the coming months, this sidechain will bring Ethereum Virtual Machine (EVM) compatibility to the XRP ecosystem. This means developers can use familiar Ethereum tools and programming languages to build applications on the XRP Ledger.
Enhancing Mainnet Functionality
The introduction of smart contracts on the XRP Ledger will allow developers to:
* Create custom solutions without impacting the broader network. * Improve transaction efficiency in terms of speed and cost, making the XRP Ledger more attractive for various applications.
Existing smart contract standards, such as Hooks from XRPL Labs, will serve as a foundation for this development, enabling developers to leverage the XRP Ledger’s core strengths for creating tailored smart contract solutions.
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. This cross-chain functionality will enable transactions and interactions between the XRPL EVM Sidechain, the XRP Ledger, and other blockchain networks. Wrapped XRP (eXRP) will act as the native asset and gas token on the sidechain, ensuring secure and efficient cross-chain transactions.
These Ripple advancements are expected to significantly impact the cryptocurrency landscape in 2025, addressing the needs of both institutional DeFi users and developers by offering more adaptable and innovative solutions.
