The XRP EVM, an Ethereum-compatible sidechain, has recorded over 1,400 smart contracts within its first week, highlighting rising developer interest.
Growth of Smart Contract Deployments on XRP EVM
Since the launch of XRP EVM, there has been considerable interest from developers. According to Pumpius (@pumpius), over 1,400 smart contracts were deployed in the first week, reflecting the rapid adoption of XRP's programmable features. This development also highlights a growing shift toward new platforms.
Benefits of Ethereum Compatibility
Developed by Ripple and Peersyst, XRP EVM allows Ethereum applications to easily adapt to the XRP infrastructure. The compatibility attracts developers seeking affordable alternatives to Ethereum. The platform offers lower deployment costs and faster transaction processing times, facilitating the adoption of dApps.
Institutional-Grade Infrastructure
The sidechain's design includes enterprise-oriented features such as support for tokenized assets. Ripple's involvement, coupled with backing from traditional financial institutions, enhances trust in the platform. It also enables the use of XRP for creating liquidity protocols, governance systems, and decentralized financial solutions, expanding its application beyond simple payments.
With the surge in smart contract deployments and EVM support, XRP EVM establishes itself as a key player in programmable blockchain finance.
