Ripple has successfully launched the XRP Ledger's Ethereum Virtual Machine (EVM) sidechain on the mainnet, fostering greater ecosystem interoperability and allowing developers to seamlessly deploy their Ethereum-based decentralized applications (dapps) on the XRPL. This development integrates EVM-compatible smart contracts while maintaining a connection to the XRPL, providing developers with low-cost access to the ecosystem, as stated in a Ripple blog post. It effectively eliminates the trade-off between EVM compatibility and the XRPL's inherent advantages, paving the way for dapps to leverage XRP's payment infrastructure.
According to David Schwartz, Ripple's Chief Technology Officer and co-creator of the XRPL, 'The XRPL EVM Sidechain offers a flexible environment for deploying EVM-based applications while maintaining a connection to the XRPL's efficient framework.' He added, 'This extension of the ecosystem's capabilities does not alter the fundamental reliability of the XRPL.' Operating as a separate blockchain, the sidechain is parallel and connected to the XRP Ledger via the Axelar bridge, an interoperability protocol. The native token of the XRPL, XRP, will serve as the sidechain's native gas token.
The sidechain is specifically designed for developers, who can now build and deploy EVM-based applications while accessing the XRPL's network of over 6 million wallet holders, as stated by Ripple. Future plans include integrating the sidechain with Wormhole, another interoperability protocol, to further expand access to the XRP ecosystem for developers.