{"id":32378,"date":"2022-10-18T08:37:13","date_gmt":"2022-10-18T08:37:13","guid":{"rendered":"http:\/\/egrowonline.com\/?p=32378"},"modified":"2022-10-18T08:37:13","modified_gmt":"2022-10-18T08:37:13","slug":"ripple-wants-to-bring-ethereum-smart-contracts-to-the-xrp-ledger","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=32378","title":{"rendered":"Ripple wants to bring Ethereum smart contracts to the XRP Ledger"},"content":{"rendered":"


\n
<\/p>\n

\n

Ripple users may be able to interact with Ethereum-compatible decentralized applications (DApps)<\/a> in the future following the launch of a test phase of Ripple\u2019s new XRP (XRP<\/a>) Ledger sidechain.<\/p>\n

The launch of the sidechain was shared <\/a>in a Tweet by blockchain development firm Peersyst Technologies on Oct. 17, noting that the new sidechain is compatible with Ethereum Virtual Machine (EVM).<\/p>\n

This means that Ripple users could eventually have access to DApps like Uniswap (should it port over) and Web3 wallets such as MetaMask and XUMM Wallet. <\/p>\n

The new sidechain also comes with a cross-chain bridge built to transfer XRP and other assets between the EVM-supported sidechain and the XRP Ledger Devnet.<\/p>\n

According to RippleX software engineer Mayukha Vadari, the release \u201cmeans developers no longer have to choose between XRPL or EVM-compatible blockchains.\u201d<\/p>\n

Developers will also be able to access XRPL\u2019s fast low-cost transactions and bring Solidity-based smart contracts onto XRPL, he said. <\/p>\n

The XRP-based EVM-compatible sidechain was custom-built by the Tendermint protocol and aims to process 1000 transactions per second (TPS). <\/p>\n

\n

Tomorrow we will publish a user guide for all #XRPLcommunity<\/a> to use and test the #EVMsidechain<\/a> and create their $XRP<\/a> accounts on @MetaMask<\/a><\/p>\n

\u2014 Peersyst Technology (@Peersyst) October 17, 2022<\/a><\/p><\/blockquote>\n

Vadari noted that the first phase of the EVM sidechain is now currently available for testing on the XRPL Devnet. Phase two will see the EVM-compatible sidechain transition to a \u201cpermissionless\u201d chain with improved scalability.<\/p>\n

Vadari said the aim is to achieve block times similar to that of the XRP Ledger for the second phase, which looks set to roll out in early 2023.<\/p>\n

\u201cThe end goal is phase three: a permissionless EVM sidechain and bridge available on the XRPL Mainnet,\u201d she added.<\/p>\n

Related: <\/em><\/strong>Evolve or die: How smart contracts are shifting the crypto sector\u2019s balance of power<\/em><\/strong><\/a><\/p>\n

The news didn\u2019t appear to affect the price of Ripple\u2019s XRP token too much, which is currently priced at $0.476 and is up 23.86% for the month.<\/p>\n

The latest announcement comes amid a nearly two-year-long lawsuit<\/a> against Ripple by the U.S. Securities Exchange Commission (SEC), which has arguably affected the adoption and development of the global settlement network. <\/p>\n

Ripple also continues to make moves<\/a> in the central bank digital currency\u00a0(CBDC) space\u00a0since it first piloted a CBDC Private Ledger for banks in March 2021, having most recently partnered with The Royal Monetary Authority of Bhutan in Sept. 2022.<\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple users may be able to interact with Ethereum-compatible decentralized applications (DApps) in the future following the launch of a test phase of Ripple\u2019s new XRP (XRP) Ledger sidechain. The launch of the sidechain was shared in a Tweet by blockchain development firm Peersyst Technologies on Oct. 17, noting that the new sidechain is compatible […]<\/p>\n","protected":false},"author":1,"featured_media":32379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[1563,2155,158,283,265,1242,58],"class_list":["post-32378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bring","tag-contracts","tag-ethereum","tag-ledger","tag-ripple","tag-smart","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/10\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvNmRmNDBlNjMtMzE1Yy00YTExLWExNTUtYjRhNTRiZmZhYjRmLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32378"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32378\/revisions"}],"predecessor-version":[{"id":32380,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/32378\/revisions\/32380"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/32379"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32378"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}