XRP Ledger EVM Sidechain Receives Major Update from Ripple

XRP Ledger EVM Sidechain Receives Major Update from Ripple

Ripple has released a new update regarding one of the major requests from the developer community: bringing Ethereum Virtual Machine (EVM) support to the XRP Ledger.

Ripple has released a new update regarding one of the major requests from the developer community: bringing Ethereum Virtual Machine (EVM) support to the XRP Ledger.

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Ripple too revealed the official name of the long-awaited sidechain, which is “XRPL EVM Sidechain”. The sidechain is expected to provide new opportunities for XRPL developers in decentralized finance (DeFi) and real-world asset (RWA) tokenization, thereby fostering innovation and expanding the value and reach of the network.

Connecting the XRPL EVM sidechain to the XRPL mainnet would require the use of a bridge, in which wrapped XRP (eXRP) acts as the native asset and gas token. This bridge enables easy movement of assets between XRPL and EVM Sidechain, ensuring interoperability and fast transaction processing. It would also allow developers to take advantage of the strengths of both networks.

As the launch date of XRPL EVM Sidechain approaches, the top priorities are to secure the mainnet bridging and improve the user and developer experience to make asset bridging a seamless procedure.

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The XRPL EVM sidechain is also expected to launch, with Axelar serving as the exclusive bridge to obtain the native gas token (eXRP) from the XRPL sidechain. Axelar can also be used to connect other fungible tokens to and from the XRPL mainnet, as well as over 55 blockchains in the Axelar ecosystem.

The way forward for the XLS-38 amendment

Ripple noted that the current method of transferring new tokens via XLS-38 was “arduous.” Using two different bridges (XLS-38 for XRP and Axelar for other tokens) to execute cross-chain smart contracts complicates the user experience. Consolidation into a single bridge is expected to simplify the procedure, hence the use of Axelar as the exclusive bridge.

XLS-38 lays the foundation for XRPL developers looking to create custom sidechains. While the XLS-38 amendment will remain open for voting, Ripple’s UNL validator will vote “No” until the team can validate the functionality using specific use cases and developer requests.

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Over the next 12 to 15 months, Ripple says its engineering team will closely evaluate acceptance and interest in XLS-38, providing updates on upcoming developments based on community feedback and traction.

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