The collapse of the ecosystem pushes the networks to expand in order to improve their services. Crypto companies, blockchains and protocols, all structures are on alert. This time, it’s Ripple’s turn to get into the dance with the start of the test of the XRPL sidechain compatible with Ethereum (ETH). Discover all the details below!
Ripple (XRP), launch of a chain with multiple benefits
On October 17, Peersyst announcement the launch of a side integrating Ethereum Virtual Machine (EVM) in the XRP Ledger (XRPL). Last September, David Schwartz presented his thoughts on a possible channel of the genre. And today the dream becomes reality. The sidechain is now available on XRPL Devnet and developers can test it before it goes live.
According to’announcement, the creation of this bridge is intended to facilitate the choice of developers. Indeed, they will be able to fully enjoy the best of both worlds. Because of this, they can access the fast and cheap trades functionality of XRP, while introducing an ability to smart contracts in XRPL.
The sidechain has many other benefits for developers. From now on, they can access DeFi protocols and create smart contracts using Ripple as a native token. However, the biggest asset of this project is undoubtedly the speed of transactions. Indeed, the EVM sidechain for XRPL would allow to execute more than 1000 transactions per second (TPS).
In addition, it would be compatible with Ethereum (ETH) applications such as Remix, Truffle and Metamask. However, this is only the first phase of the project. The second is expected to take place in early 2023. This will include a unique, permissionless EVM sidechain and bridge that connects to the XRPL Devnet.
However, the end goal of Ripple’s project remains phase three. The latter is the deployment of an EVM sidechain and bridge on the XRPL mainnet. Throughout these months, developers will benefit from all the advantages of the Ripple Ledger. Among other things, durability, speed and low transaction costs.
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