Payment decacorn Ripple unveils its latest development: a sidechain that is designed to bridge Ethereum (ETH) and XRP Ledger - underpinned by an eXRP asset.
Ripple unveils testnet EVM-compatible XRPL sidechain
According to the official statement shared by RippleX, a development studio focused on solutions for XRP Ledger blockchain, the testing campaign of Ethereum-compatible XRPL sidechain has started.
🥁Introducing the first phase of bringing an Ethereum Virtual Machine (EVM) sidechain to the #XRPLedger.October 17, 2022
EVM developers, we invite you to experiment with the functionality on Devnet and enjoy the best of Ethereum and XRPL for your #DeFi applications. https://t.co/gdBG8d5Xvl
The project is being developed and maintained by Peersyst, a Barcelona-based Web3 engineering team. EVM-compatible sidechain is now available in XRPL devnet.
For the experiments, XRPL devnet can be accessed through XUMM non-custodial wallet while EVM-compatible sidechain works with MetaMask. XRP assets can therefore be transferred from XRPL devnet to new sidechain (as eXRP) and backwards.
Ethereum dApps to go live on XRPL
Within the first phase of testing, developers can deploy existing Solidity dApps (software programs for Ethereum) to new sidechain and access XRPL Devnet userbase. As a result of Ripple/Peersyst collaboration, Ethereum-focused developers will be able to build on the top of low-cost and fast XRP Ledger blockchain well-known for its passionate community.
In coming months, the developers are going to unveil a fully permissionless public EVM sidechain and a non-custodial bridge to XRP Ledger mainnet.
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