Ripple users can interact with Ethereum-compatible decentralized applications (DApps) in the future following the launch of a test phase of Ripple’s new XRP Ledger sidechain.

The sidechain release was shared in a Tweet from blockchain development firm Peersyst Technologies on Oct. 17, noting that the new sidechain is compatible with Ethereum Virtual Machine (EVM).

This means Ripple users could eventually get access to decentralized apps like Uniswap (should it be ported) and Web3 wallets like Metamask and XUMM Wallet.

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

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

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

The XRP-based EVM-compatible sidechain was custom built by the Tendermint protocol and 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 see the transition from the EVM-compliant sidechain to a “permissionless” sidechain with improved scalability.

Vadari said that the goal is to achieve block times similar to those of the XRP Ledger for the second phase, which appears to be implemented in early 2023.

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

Related: Evolve or Die: How Smart Contracts Are Changing the Crypto Sector’s Balance of Power

The news didn’t seem to affect the price of Ripple’s XRP token too much, which is currently priced at $0.476 and is up 23.86% on the month.

The latest announcement comes amid a nearly two-year lawsuit against Ripple by the US Securities and Exchange Commission (SEC), which has arguably affected the adoption and development of the global settlement network.

Ripple also continues to make moves in the central bank digital currency (CBDC) space since first testing a private CBDC ledger for banks in March 2021, most recently partnering with the Royal Bhutan Monetary Authority in September 2022.





This post Ripple wants to bring Ethereum smart contracts to the XRP Ledger

was published first on https://cointelegraph.com/news/ripple-wants-to-bring-ethereum-smart-contracts-to-the-xrp-ledger

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