XRP Ledger has introduced its EVM sidechain, providing support for Ethereum smart contracts and offering developers new opportunities.
Support for Smart Contracts and Ethereum Tools
The launch of the EVM sidechain enables developers to create decentralized applications using familiar Ethereum tools such as Solidity, MetaMask, and Hardhat. The sidechain uses XRP as its native gas token, simplifying interactions for XRP Ledger users. Block times on the sidechain are significantly faster than Ethereum's average of 14 seconds, supporting up to 1,000 transactions per second.
Ecosystem Ready for Cross-Chain Growth
The EVM sidechain has already attracted a number of DeFi projects, such as Strobe and Securd, which enable lending and borrowing, as well as Vertex providing capital-efficient trading options. The validator network includes over 25 participating companies, reinforcing decentralization and global reach.
Multichain Potential for Real-World Use Cases
Although technically a separate chain, the EVM sidechain remains closely linked to the XRP Ledger's infrastructure, inheriting its reliability and regulatory readiness. The platform is designed with compliance in mind, allowing for real asset integration and stablecoin issuance, making it attractive to both institutional and retail users.
The emergence of the EVM sidechain on XRP Ledger marks a new phase for developers and users in the blockchain ecosystem, unlocking new possibilities for application creation.
