Ethereum smart contracts with XRP Ledger 22 by Ripple.
After the start of a test phase of Ripple’s new XRP Ledger sidechain, users may be able to interact with Ethereum-compatible decentralised apps (DApps) in the future.
Peersyst Technologies, a blockchain development company, announced the sidechain’s introduction on October 17 in a Tweet and noted that it is compatible with the Ethereum Virtual Machine (EVM).
As a result, users of Ripple could someday have access to decentralised software like Uniswap (should it migrate over) and Web3 wallets like Metamask and XUMM Wallet.
Ethereum smart contracts with XRP Ledger 22 by Ripple.
In order to move XRP and other assets between the sidechain supported by the EVM and the XRP Ledger Devnet, the new sidechain also has a cross-chain bridge built into it.
The release “means developers no longer have to pick between XRPL or EVM-compatible blockchains,” said Mayukha Vadari, a technical engineer with RippleX.
Additionally, he noted, developers would be able to use XRPL’s quick, inexpensive transactions and add Solidity-based smart contracts to the platform.
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The Tendermint protocol created an XRP-based, EVM-compatible sidechain with a goal of processing 1000 transactions per second (TPS).
Vadari pointed out that the XRPL Devnet is now hosting testing for the first stage of the EVM sidechain. The EVM-compatible sidechain will change to a “permissionless” chain with better scalability in phase two.
For the second phase, which is anticipated to launch in early 2023, Vadari said that the goal is to attain block timings comparable to those of the XRP Ledger.
Phase three will lead to a permissionless EVM sidechain and bridge that are accessible on the XRPL Mainnet, she said.
The price of Ripple’s XRP coin, which is presently trading at $0.476 and has increased 23.86% for the month, didn’t seem to be much impacted by the news.
The most recent statement was made while the United States has been suing Ripple for over two years. It is arguable that the Securities Exchange Commission (SEC) has had an impact on the acceptance and growth of the worldwide settlement network.
Since it initially launched a CBDC Private Ledger for banks in March 2021, Ripple has continued to move forward in the Central Bank Digital Currency (CBDC) area. It most recently collaborated with The Royal Monetary Authority of Bhutan in September 2022.
Ethereum smart contracts with XRP Ledger 22 by Ripple.
The most recent statement was made while the United States has been suing Ripple for over two years. It is arguable that the Securities Exchange Commission (SEC) has had an impact on the acceptance and growth of the worldwide settlement network.
Since it initially launched a CBDC Private Ledger for banks in March 2021, Ripple has continued to move forward in the Central Bank Digital Currency (CBDC) area. It most recently collaborated with The Royal Monetary Authority of Bhutan in September 2022.
The most recent statement was made while the United States has been suing Ripple for over two years. It is arguable that the Securities Exchange Commission (SEC) has had an impact on the acceptance and growth of the worldwide settlement network. Ethereum smart contracts
Since it initially launched a CBDC Private Ledger for banks in March 2021, Ripple has continued to move forward in the Central Bank Digital Currency (CBDC) area. It most recently collaborated with The Royal Monetary Authority of Bhutan in September 2022. Ethereum smart contracts
The most recent statement was made while the United States has been suing Ripple for over two years. It is arguable that the Securities Exchange Commission (SEC) has had an impact on the acceptance and growth of the worldwide settlement network. Ethereum smart contracts
Since it initially launched a CBDC Private Ledger for banks in March 2021, Ripple has continued to move forward in the Central Bank Digital Currency (CBDC) area. It most recently collaborated with The Royal Monetary Authority of Bhutan in September 2022.
