RippleX and Peersyst Technology Nearing Launch of Ethereum Virtual Machine (EVM) Sidechain for XRP Ledger
RippleX, the developer arm of Ripple Labs, and Peersyst Technology are making progress towards the launch of the highly anticipated Ethereum Virtual Machine (EVM) Sidechain for the XRP Ledger (XRPL). This initiative aims to combine the smart contract capabilities of Ethereum with the XRPL, enabling cross-chain functionality and scalability.
XRP Ledger X Ethereum: Getting Closer
RippleX has announced the latest updates on the EVM Sidechain for XRPL and encouraged community engagement. They directed users to Peersyst’s progress report for more information.
Peersyst expressed optimism in their communication, stating that they are closer than ever to launching the EVMSidechain for XRPL. They have already started 2024 with significant progress on this project.
Advancements in the EVM Sidechain
Peersyst highlighted their approach to development and security. After undergoing an audit with Bishop Fox, they have completed a second audit with a recognized supplier. Technical strides have been made, including updates to the blockchain facilitated by Cosmos SDK and Evmos support.
The XChain Bridge emerged as a crucial feature, allowing automatic bridging between existing tokens in the EVMSidechain and XRPLedger. A new user interface (UI) and Bridge SDK will simplify interactions and aid developers. The upcoming release of the updated Blockscout Explorer will offer an enhanced user experience.
A More Interconnected Blockchain Landscape
The recent developments in XRPL, such as the release of rippled 2.0, align with these advancements towards a more interconnected and versatile blockchain landscape. Ripple’s Automated Market Maker (AMM) proposal is still pending, awaiting more “Yes” votes from validators. At the time of writing, XRP is trading at $0.51410.
Hot Take: RippleX and Peersyst Technology Collaborate to Bring Ethereum Functionality to XRP Ledger
RippleX and Peersyst Technology’s partnership to develop the EVM Sidechain for XRPL is an exciting development for the crypto community. This integration of Ethereum’s smart contract capabilities with XRPL’s cross-chain functionality opens up new possibilities for blockchain technology. The advancements made in the EVM Sidechain, such as the XChain Bridge and improved user interface, will enhance user experience and simplify interactions for developers. With a more interconnected blockchain landscape, the future looks promising for XRPL and its integration with other platforms.
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