In a significant move, Ripple partner Peersyst announces that new amendments to the XRPL EVMSidechain have been activated following community approval. The two modifications that have been applied will allow new transaction fees in XRP and the activation of Cosmos IBC.
In a significant move, Ripple partner Peersyst announces that new amendments to the XRPL EVMSidechain have been activated following community approval. The two modifications that have been applied will allow new transaction fees in XRP and the activation of Cosmos IBC.
May 1st, Peersyst launched two new key proposals, 33 and 34, to upgrade the network, adjust XRP fees, and enable IBC and Cosmos tokens, respectively.
Amendment 33 would allow the network gas price to be updated so that the configuration is more similar to production environments. This step is essential for the security and scalability of the network. Transaction fees should be minimal, comparable to Binance Smart Chain or Polygon.
Amendment 34 will activate IBC channels, connecting the network to the Cosmos ecosystem and enabling cross-chain applications.
The community approved the amendments, which are now in effect following a seven-day voting period that ended on Monday, May 6.
The Ripple EVM sidechain, a proof-of-concept extension of the XRPL protocol, is designed to bring full programmability to the XRPL ecosystem. It allows developers to deploy EVM applications on XRPL with few changes, eliminating the requirement for network votes for each application.
The EVM sidechain uses a proof-of-authority (PoA) consensus method and is directly connected to the XRP Ledger via the XRPL bridge. The core technology for XRPL sidechain consensus is CometBFT, a fork of Tendermint that is a Byzantine fault-tolerant engine for blockchain development.
With the new update, the XRPL EVM sidechain could become more attractive to developers who want to try it for their applications, as it is not yet available on the production Mainnet.
