On Monday, Ripple announced the availability of a critical smart contract developer bridge to Ethereum. The business unveiled the initial iteration of the XRP Ledger Ethereum Virtual Machine sidechain.
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For developers interested in cross-chain interoperability, the sidechain is now available on the XRPL Devnet. In essence, the change will give programmers a choice between using the Ripple blockchain or the Ethereum blockchain.
The Ripple XRP Blockchain Is Now Available For Smart Contracts On Ethereum (XRPL)
The release of XRP Ledger (XRPL) on the Ethereum Virtual Machine sidechain makes the platform’s Solidity-based smart contracts available to programmers. In addition, Ripple announced the introduction of a connection between the XRP Ledger Devnet and an EVM-compatible chain. According to the report, the project’s second phase is expected to go out sometime in early 2023. To increase adoption and conduct scalability tests, the XRPL Devnet will soon be linked to a permissionless EVM sidechain.
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The XRPL Devnet now supports testing of this initial release of the EVM sidechain. To evaluate the efficacy of the tools at their disposal, developers can use a bridge to simulate transactions in Devnet XRP between the EVM sidechain and the XRP Ledger. Solidity apps already in existence can be deployed on the EVM sidechain and given access to the XRPL Devnet user base.
EVM Sidechain Without XRPL Mainnet Permissions
Potentially a game-changer for the Ripple Developer Ethereum ecosystem. The Ripple team intends to release a permissionless EVM sidechain and bridge on the XRPL Mainnet in a later stage. The developers have not committed to a deadline for this stage of the project. As a first step, programmers can experiment with the new EVM sidechain. Connecting Metamask to the EVM sidechain, or XRPL Devnet, will let users to access XUMM wallets. Now, XRP can be moved freely between XRPL Devnet and the EVM sidechain by developers.
Perhaps as a result of this news, the price of Ripple (XRP) followed an upward trending direction. Based on data from CoinMarketCap, XRP is currently trading at $0.4807, down 0.43% in the previous 24 hours. The current price of Ethereum (ETH) is $1,333, an increase of 3.77 percent in the last 24 hours.
Source: Google Trend