XRPL EVM Sidechain Goes Live, Unlocking Ethereum Dapps in XRP Ecosystem
Main Idea
Ripple Labs has launched the XRP Ledger's Ethereum Virtual Machine (EVM) sidechain, enabling Ethereum-compatible smart contracts and dapps to integrate with the XRP ecosystem while leveraging its payment infrastructure.
Key Points
1. The XRPL EVM Sidechain allows developers to deploy EVM-based applications while maintaining connectivity to the XRP Ledger's efficiency and reliability.
2. The sidechain uses XRP as its native gas token and connects to the XRP Ledger via the Axelar bridge, an interoperability protocol.
3. Developers can access XRPL's network of over 6 million wallet holders, expanding opportunities for dapp deployment and adoption.
4. The integration aims to eliminate the trade-off between EVM compatibility and XRPL's native advantages, fostering broader developer participation in the XRP ecosystem.
Description
Ripple officially introduced the XRP Ledger's Ethereum Virtual Machine (EVM) sidechain to the mainnet in an bid to improve the ecosystem's interoperability and allow developers to deploy their Ethereum-based decentralized applications (dapps) with the XRPL. The development adds EVM-compatible smart contracts while maintaining a connection to the XRPL , giving developers access to the ecosystem at a low cost, Ripple said in a blog post. It is designed to eliminate the trade-off between EVM compat...
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