- Smart Contract Integration
- Functionality and Applicability
- Ripple's Statement
Ripple has drawn attention with its innovative steps and announced the introduction of Ethereum (ETH) compatible smart contracts on the XRP Ledger platform.
Smart Contract Integration
According to CoinDesk, Ripple has improved its XRP Ledger by integrating Ethereum-compatible smart contracts via a new sidechain, enabling complex applications such as decentralized exchanges and token issuance.
Functionality and Applicability
The new XRPL EVM sidechain will use Axelar's crypto bridge service to allow tokens to be transferred between it and 55 other blockchains. Wrapped XRP (eXRP) will be used as the native token.
Ripple's Statement
Ripple stated:
"Progress towards smart contract functionality in the XRP Ledger ecosystem is already underway with the XRPL EVM sidechain.
This sidechain will bring Ethereum Virtual Machine (EVM) compatibility to the XRP community, allowing developers to use familiar tools and programming languages, thereby expanding the appeal of XRP Ledger to a global developer community."
XRP Ledger is an open-source blockchain network that uses XRP tokens to process and record financial transactions. This innovation enhances the platform's functionality and applicability.
