In a groundbreaking move, Ripple is testing an Ethereum-compatible sidechain for its XRP Ledger. This development will allow developers to deploy Ethereum smart contracts on the XRP Ledger with minimal effort, as they no longer need to choose between XRP Ledger or Ethereum Virtual Machine (EVM)-compatible blockchains. The sidechain is presently being tested by RippleX developers and blockchain technology firm, Peersyst.
Decentralized Bridge Design and Token Transfers
The new version of the sidechain features a decentralized bridge design, implementing the XLS-38d specification. This development supports the transfer of XRP, IOU, and ERC-20 tokens across both platforms with ease. The first phase of the launch includes a bridge between EVM chains and the XRP Ledger Devnet, granting developers access to both technologies.
Permissionless EVM Sidechain and Scalability Testing
The second phase, set for early 2023, involves the introduction of a permissionless EVM sidechain and bridge. This unique design connects to the XRPL Devnet, allowing for expanded participation and scalability testing within a controlled environment. The third phase, scheduled for the second quarter of 2023, will see the full deployment of the sidechain’s software.
2023 Goal – EVM Sidechain Connected to XRPL Mainnet
Ripple’s aim for 2023 is to have an EVM sidechain connected to the XRPL mainnet. This connection will enable developers to capitalize on XRPL’s fast, low-cost transactions and integrate Solidity-based smart contracts onto the XRP Ledger.
