The launch of the XRPL EVM Sidechain on the mainnet marks a significant step for the XRP Ledger ecosystem, providing new opportunities for decentralized application developers.
What is XRPL EVM Sidechain?
XRPL EVM Sidechain is a sidechain linked to the XRP Ledger via the Axelar bridge, connecting over 80 blockchains. This sidechain launch adds Ethereum compatibility and smart contract programmability to the XRP Ledger ecosystem.
Benefits of the New Sidechain
With the new sidechain, developers can build, port, and deploy cross-chain and EVM apps using XRP as gas. This opens the door for entirely new classes of decentralized applications, including lending, tokenization, and payments.
The Future of Cross-Chain DeFi
The launch of the XRPL EVM Sidechain, which supports integration with protocols like Wormhole, is expected to increase the number of applications and improve XRPL's multichain capabilities. The sidechain promises faster block times and lower transaction costs, making it suitable for high-volume dApps.
The launch of the XRPL EVM Sidechain opens new horizons for developers and users, fostering the growth of cross-chain DeFi and strengthening the position of XRP Ledger in the blockchain ecosystem.
