Peersyst Technology has announced the launch of an Ethereum-compatible sidechain testnet for the XRP Ledger. This project is realized in collaboration with RippleX and other partners.
Sidechain Testnet Launch
Recently, Peersyst Technology completed the development of an Ethereum-compatible sidechain testnet for the XRP Ledger. This innovation is aimed at expanding the possibilities of decentralized finance (DeFi) on the XRPL, using XRP as the primary token.
Collaboration for Success
The project was realized with the participation of RippleX, the Web3 platform Alexar Network, and the blockchain science firm Common Prefix. The devnet version of the sidechain was initially launched in October 2022, and a new version was released in June 2023.
Future Plans
With the testnet launch, Peersyst Technology plans to announce new partners and validators in the coming days. Developers expressed hope for the platform's further success and competitiveness in the smart contracts domain.
The launch of the EVM sidechain testnet for the XRP Ledger opens up new prospects for decentralized finance and expands the functionality of the XRP token on the platform.
