{"id":165476,"date":"2022-10-17T19:37:55","date_gmt":"2022-10-17T19:37:55","guid":{"rendered":"https:\/\/precoinnews.com\/?p=165476"},"modified":"2022-10-17T19:37:55","modified_gmt":"2022-10-17T19:37:55","slug":"ripple-xrp-achieves-huge-milestone-with-deployment-of-ethereum-based-smart-contracts-for-xrpl-sidechain","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/blockchain\/ripple-xrp-achieves-huge-milestone-with-deployment-of-ethereum-based-smart-contracts-for-xrpl-sidechain\/","title":{"rendered":"Ripple ($XRP) Achieves Huge Milestone With Deployment of Ethereum-based Smart Contracts for XRPL Sidechain"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/10\/ripple-gc9b4f1b72_1920-770x513.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/secure.gravatar.com\/avatar\/535d61f1766a7180c97c97c9618887d5?s=50&amp;d=retro&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/535d61f1766a7180c97c97c9618887d5?s=100&amp;d=retro&amp;r=g 2x\" class=\"avatar avatar-50 photo\" height=\"50\" width=\"50\" loading=\"lazy\"><\/p>\n<ul>\n<li><span>Ripple announced phase one of its EVM sidechain for XRP Ledger developed by Peersyst.&nbsp;<\/span><\/li>\n<li><span>The sidechain will enable the deployment of Ethereum-based smart contracts on Ripple&rsquo;s XRP Ledger<\/span><\/li>\n<li><span>The EVM-compatible sidechain is currently live on XRP Ledger devnet.<\/span><\/li>\n<li><span>Full deployment of the sidechain is expected in the second quarter of 2023.&nbsp;<\/span><\/li>\n<\/ul>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>Ripple<\/span><span>&nbsp;has started testing a sidechain that is compatible with the Ethereum Virtual Machine (EVM) and can allow developers to bring Ethereum-based smart contracts to the XRP Ledger (XRPL).&nbsp;<\/span><\/p>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>Ethereum Virtual Machine is a software used by developers to create dApps and deploy smart contracts on Ethereum.&nbsp;<\/span><\/p>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>The sidechain, which is a blockchain that runs parallel to the main XRP Ledger blockchain, has been developed by Barcelona-based&nbsp;<\/span><span>Peersyst Technology<\/span><span>.&nbsp;<\/span><\/p>\n<p><span>&nbsp;<\/span><\/p>\n<h4><strong><span>Milestone for XRP Ledger<\/span><\/strong><\/h4>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>The successful deployment of this sidechain can be a game-changer for Ripple and XRP, given that developers will be able to use the cryptocurrency within the sidechain.&nbsp;<\/span><\/p>\n<p><span>The software is still in the experimental stage. It is currently live on the XRPL devnet, where developers will run various tests before it goes live on the mainnet.&nbsp;<\/span><\/p>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>This development marks the first phase of the EVM sidechain. Phase two is scheduled for early 2023. This phase will feature a permissionless EVM sidechain and will not be restricted to developers.<\/span><\/p>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>Full deployment of the sidechain is expected in the second quarter of 2023, which is when developers will be able to utilize the best of both worlds, XRPL&rsquo;s speed, sustainability, and low-cost transactions and solidity&rsquo;s wide range of developer tools and dApps.&nbsp;<\/span><\/p>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>&ldquo;Throughout all three phases, the EVM sidechain will feature block and finality times comparable to the XRPL Mainnet and support Ethereum smart contracts and applications like Metamask, Remix, and Truffle.&rdquo; RippleX developers said in a&nbsp;<\/span><span>press release<\/span><span>.&nbsp;<\/span><\/p>\n<p><span>&nbsp;<\/span><\/p>\n<p><span>The concept was introduced in September 2021 by&nbsp;<\/span><span>David Schwartz<\/span><span>, Ripple&rsquo;s Chief Technology Officer. &ldquo;bringing Ethereum smart contracts to the XRPL could lower the barriers to entry for developers to build powerful DeFi apps with cross-chain interoperability.&rdquo; he said in a tweet.&nbsp;<\/span><\/p>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/ripple-tests-evm-sidechain-for-xrp-ledger\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple announced phase one of its EVM<\/p>\n","protected":false},"author":3,"featured_media":165475,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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