Vet, a prominent validator on the XRP Ledger (XRPL), recently highlighted a user-friendly interface that allows for seamless bridging of XRP to the Ethereum Virtual Machine (EVM) sidechain on the devnet. This recent development showcases the progress being made behind the scenes in launching the XRPL bridge and the EVM sidechain to the public. These products are expected to enhance interoperability within the XRPL ecosystem.
In a recent post, Vet confirmed his plans to bridge XRP tokens to the EVM sidechain on the devnet and praised the convenient user interface. He expressed his intention to deploy a smart contract on the sidechain once the XRP is successfully bridged.
The EVM sidechain, when officially launched, will enable developers to build and launch Ethereum-based smart contracts for the XRPL. This functionality is expected to strengthen the XRPL DeFi ecosystem, which has been growing with the introduction of the automated market maker (AMM) functionality and the upcoming native lending protocol.
Vet acknowledged that deploying a smart contract on the EVM sidechain would be his first attempt, but emphasized that these functionalities are currently limited to the devnet and not available to the public. Nevertheless, the glimpse into the functionality has generated excitement among supporters.
Zach Rector, a media personality and industry commentator, reacted to the sneak peek and expressed optimism about the expansion of the XRPL DeFi ecosystem.
The XRPL EVM sidechain, a collaboration between Ripple and Peersyst Technology, aims to establish a vital connection between the XRP Ledger and the Ethereum ecosystem of decentralized applications (dApps). The sidechain boasts impressive capabilities, supporting up to 1,000 transactions per second and offering a swift block finalization time of only 5 seconds. It utilizes CometBFT, a variant of Tendermint, to ensure speed and security.
Currently, the EVM sidechain is not available on the XRPL mainnet but is connected to the devnet for development purposes. This allows developers and validators within the XRPL community to explore and test its functionalities before its official release. The sidechain has undergone a thorough audit conducted by Bishop Fox, confirming its readiness for deployment pending necessary consensus. Ripple has introduced the XLS-38 amendment to integrate the XChainBridge onto the XRPL, which will facilitate the connection between the XRPL and the EVM sidechain. However, XLS-38 has not yet attained validator consensus.
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