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Will Ripple Bring Ethereum Smart Contracts to the XRP Ledger?

 


The EVM-compatible XRP ledger sidechain is scheduled to go through its second phase in early 2023. This makes the chain permission-free and improves scalability.


Ripple users will be able to interact with Ethereum-compatible decentralized applications (dApps) after the start of a test phase of Ripple's new XRP ledger sidechain.


A tweet announced the launch of a sidechain by blockchain development firm Peersyst Technologies. It was also mentioned that this new sidechain is Ethereum Virtual Machine (EVM) compatible.


“Tomorrow we will be releasing a user guide for the entire #XRPL community to use and test the #EVM sidechain and create their $XRP accounts on @MetaMask.”


That means Ripple users could eventually have access to decentralized applications like Uniswap and Web3 wallets like Metamask and the XUMM wallet.


The new sidechain also comes with a cross-chain bridge designed to transfer XRP and other assets between the EVM-backed sidechain and the XRP Ledger Devnet.

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According to RippleX software engineer Mayukha Vadari, the release means developers no longer have to choose between XRPL or EVM-compatible blockchains.


Developers will also be able to access XRPL's fast, low-cost transactions and bring Solidity-based smart contracts to XRPL.


Developed by the Tendermint protocol, the compatible sidechain aims to process 1000 transactions per second (TPS).


Vadari noted that the first phase of the EVM sidechain is now available for testing on the XRPL devnet. Phase two will introduce the EVM-compatible sidechain into a "permissionless" chain with improved scalability.


Vadari said that a goal for the second phase is to be launched in early 2023.


“The end goal is phase three: a permissionless EVM sidechain and bridge available on the XRPL mainnet.”


The news hasn't impacted Ripple's token, XRP. Currently the price is at $0.476 and it is up 23.86% this month.

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