Peersyst Technology Nearing Launch of Highly Anticipated EVM Sidechain for XRP Ledger

Blockchain Solutions by Peersyst Technology

Peersyst Technology is a blockchain technology company known for creating solutions that use blockchain to enhance processes and systems.

Ethereum Virtual Machine (EVM) Sidechain for the XRP Ledger

Peersyst Technology has made significant progress in the launch of the much-anticipated Ethereum Virtual Machine (EVM) Sidechain for the XRP Ledger.

What are Sidechains?

Sidechains are separate blockchain networks connected to a parent blockchain like the XRP Ledger but operate independently, expanding functionality without congesting the main network.

XChainBridge Public Amendment and Validator Voting

Peersyst Technology is now open for validator voting on the XChainBridge public amendment, which is a fundamental requirement for the EVM Sidechain’s launch, securing 7 out of the required 28 votes from validators.

Advancements in the EVM Sidechain

The EVM Sidechain has undergone extensive advancements, including multiple audits, the latest blockchain technology updates, and soon will incorporate Cosmos v.0.47 and Ethereum’s EIP3855.

Enhancements to XChain Bridge

The XChain Bridge is set to receive a significant update, enabling automatic and dynamic bridging of any existing token on the EVM Sidechain to the XRP Ledger. A new user interface and a bridge software development kit (SDK) are implemented to assist developers.

Introduction of a New Explorer

Peersyst Technology is preparing to launch the latest version of the Blockscout Explorer, featuring advanced functionalities for verifying and executing smart contracts and a dynamic view of decentralized applications (dApps).

Hot Take: Progress of Peersyst Technology in Developing Blockchain Solutions

Peersyst Technology has made significant advancements in developing the Ethereum Virtual Machine (EVM) Sidechain for the XRP Ledger, which promises to revolutionize blockchain interoperability and functionality. The improvements in the EVM Sidechain and XChain Bridge are key steps towards enhancing blockchain integration and expanding the applications of the XRP Ledger.