Ripple starts testing XRPL sidechain compatible with Ethereum

Peersyt Technology has launched a sidechain that integrates Ethereum Virtual Machine (EVM) into Ripple’s XRP Ledger (XRPL). The sidechain is available on XRPL Devnet for developers to start testing before it goes live.

📢Thrilled to announce the launch of the first #XRPL #Sidechain compatible with #EVM!🔗

This #Devnet version with its #Explorer and #Bridge is the first step to open a world of gigantic possibilities to all developers and businesses that put their trust in @Ripple @RippleXDev 🔐

— Peersyst Technology (@Peersyst) October 17, 2022

According to the announcement, a bridge has been created between an EVM-compatible chain and the XRPL Devnet, so developers do not have to choose between either network. This development means developers could easily access XRPL’s speed and cheap transactions feature while introducing smart contract capability to XRPL.

It also means developers could create smart contracts and access DeFi protocols while using XRP as the native token. The sidechain would run 1000 transactions per second (TPS) and would be compatible with Ethereum (ETH) applications like Metamask, Remix, and Truffle.

Meanwhile, this is just the first stage of the project. The second stage will commence in early 2023 when the EVM sidechain becomes permissionless and more testing will be carried out in a controlled environment. The project’s third stage would see the sidechain deployed on the XRPL mainnet.

The developers did not state when the third stage would begin.

Journalist at CryptoSlate

Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.

Connect your wallet, trade with Orion Swap Widget.

Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.

Get an Edge on the Crypto Market 👇

Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.


Recommended For You

About the Author: wp4crypto

Leave a Reply

Your email address will not be published.