An EVM-compatible XRP sidechain has been launched by Peersyst Technology.
The new sidechain will be the first EVM-compatible chain for XRP, making it possible for developers to bring Ethereum dApps to the XRP ledger.
Despite being embroiled in a heated legal battle with the US Securities and Exchange Commission (SEC), Ripple is relentlessly pursuing new projects and has also recently collaborated with Thallo to deliver high-quality carbon credits to its users.
EVM-compatible sidechain for XRP
XRP maxis will soon be able to interact with and access Ethereum dApps thanks to a new XRP ledger side chain.
The launch of the XRP sidechain devnet was announced by its creator, Peersyst Technology.
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A cross-chain bridge transfer feature will be released alongside the sidechain, giving XRP users the ability to transfer XRP and other crypto assets between the EVM sidechain and the XRP ledger.
Cross-chain capabilities will also allow XRP to be accessible via web3 wallets such as Metamask.
Mayukha Vadari from Ripple commented on the sidechain:
This milestone means more developers can easily access the XRPL’s feature set (such as its speed, sustainability, and low-cost transactions) and bring Solidity-based smart contracts to the XRPL. As part of the phase 1 launch, we’re also introducing a bridge between an EVM-compatible chain and the XRP Ledger Devnet.
Peersyst intends to complete the launch of its sidechain in phases. In phase II, Ripple will 'feature a permissionless EVM sidechain and bridge with a unique design that connects to the XRPL Devnet to expand participation and test scalability within a controlled environment.'
The last and final phase of the sidechain will include 'launching a permissionless EVM sidechain and bridge available on the XRPL Mainnet slated to follow.'
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