Ripple announced the introduction of smart contracts on the XRP Ledger mainnet. This move will bring advanced programmability to the blockchain, expanding its capabilities 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 Mainnet**: This upgrade will allow developers to create custom solutions without requiring broad community consensus or core network changes. 2. **XRPL EVM Sidechain**: This sidechain will bring Ethereum Virtual Machine (EVM) compatibility, enabling developers to use familiar Ethereum tools and programming languages for building applications on XRP Ledger.
Enhancing Mainnet Functionality
The introduction of smart contracts will allow developers to: * Create custom solutions that meet specific business needs without impacting the broader network. * Improve transaction efficiency by enhancing speed and cost-effectiveness. Existing smart contract standards, like Hooks from XRPL Labs, will serve as the foundation for this development, enabling developers to leverage the core strengths of XRP Ledger.
XRPL EVM Sidechain Development
In collaboration with Peersyst, the XRPL EVM Sidechain brings Ethereum compatibility to the XRP ecosystem. This will allow developers to use Ethereum’s tools and languages for building and deploying smart contracts. A key feature of this sidechain is its ability to connect with over 55 other blockchains through the Axelar bridge. Wrapped XRP (eXRP) will act as the native asset and gas token on the sidechain, ensuring secure and efficient cross-chain transactions.
Ripple’s advancements, such as smart contracts and the XRPL EVM Sidechain, are expected to significantly impact the crypto space in 2025, addressing the needs of both institutional DeFi users and developers.
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