RippleX Unveils Groundbreaking Enhancements for XRP Ledger
Ripple, in collaboration with Peersyst, has introduced two significant technological advancements for the XRP Ledger (XRPL). These innovations include the launch of the new Ethereum Virtual Machine (EVM) sidechain in the developer network and updates to the XRPLโs Automated Market Maker (AMM) functionality. These developments play a crucial role in Rippleโs mission to bolster the XRPLโs capacities in the realms of cross-border payments and decentralized finance (DeFi).
Ripple and Peersyst Revolutionize with EVM Bridge
The unveiling of the EVM sidechain, a joint effort between Peersyst Technology and Ripple, signals a monumental step in the evolution of the XRPL. In a statement shared by Peersyst Technology through X (formerly Twitter), the completion of a significant upgrade for the EVM sidechain was highlighted.
- Exciting milestone achieved on the EVM Sidechain
- Introduction of the new scalable bridge version for future XRPL interoperability
The scalable interface introduced promises to elevate the XRPLโs interoperability capabilities significantly. It has been designed to support multiple networks, wallets for each network, and different tokens for every network pairing. Additionally, it enables dynamic bridge creation by users for any ERC20/IOU token, facilitating permissionless cross-chain applications. This aligns with Rippleโs goal to expand XRPLโs connectivity with other blockchain networks.
Three-Phase Approach to XRPL EVM Sidechain Development
The development of the XRPL EVM sidechain is structured into three distinct phases:
- Launch on the XRPL devnet (October 2022)
- Introduction of a permissionless EVM sidechain connected to XRPL mainnet (upcoming)
This phased approach ensures thorough testing and scalability evaluations, laying a solid foundation for increased participation and interoperability with various blockchain networks.
XRPL AMM Feature Activation Set for April 11
RippleX has announced a crucial update concerning the XRPL AMM feature. An amendment addressing a detected bug has garnered over 80% consensus for activation, scheduled to go live on April 11. Node and validator operators are urged to update their infrastructure to rippled version 2.1.1 promptly to ensure the seamless operation of the XRPL AMM feature.
- Announcement of the XRPL AMM feature activation on April 11
- Node and validator operators advised to upgrade to rippled version 2.1.1
Enhancing Transparency in Bug Resolution
In a recent blog post, developer Brad Chase from RippleX detailed the bug discovery and resolution process related to the XRPL AMM feature. The bug, identified with the help of community members, necessitated the development of a fix, rigorous testing, and network preparation for the amendmentโs activation. RippleXโs transparent communication and community mobilization played a pivotal role in mitigating the bugโs impact and facilitating a swift resolution.
XRP Market Update
At the current moment, XRP is trading at $0.62843.
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