XRPL EVM Sidechain Launches, Enabling Ethereum Dapps on XRP Network
Ripple launched the Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger (XRPL) on the mainnet. This development enhances interoperability, enabling developers to deploy Ethereum-based decentralized applications (dapps) on XRPL.
- The EVM sidechain introduces smart contracts compatible with EVM while maintaining ties to XRPL.
- It aims to provide low-cost access to developers and remove conflicts between EVM compatibility and XRPL advantages.
- The sidechain functions as a separate blockchain linked to XRPL via the Axelar bridge, utilizing XRP as the native gas token.
- Developers can build EVM-based applications while tapping into XRPL's network of over 6 million wallet holders.
- Future plans include integrating with Wormhole, expanding developer access to the XRPL ecosystem.