XRP Ledger Develops First Sidechain for Ethereum Applications

XRP Ledger network, connected to cross-border payments company Ripple, will now support Ethereum-based smart contracts.

Sidechain in Initial Stages

According to RippleX, the sidechain is currently in the initial stages of development and is not ready for public experimentation. It was built by a company named Peersyst. This indicates that it is currently only accessible through XRP Ledger's Devnet, a limited experimental system used for XRP Ledger testing. The second phase will commence in early 2023 and include a peer-to-peer EVM sidechain accessible to everyone.

While the Ethereum Virtual Machine (EVM), a platform frequently used by Ethereum developers to create applications, is supported by the XRP Ledger, the network does not presently accept it. The Tendermint protocol developed a sidechain with an XRP foundation that is EVM-compatible and can handle 1000 transactions per second (TPS).

Sidechain to Create Apps in Solidity

According to RippleX, the sidechain will enable programmers to create applications in Solidity, the primary programming language on Ethereum, once implemented on the mainnet in the second quarter of 2023. It will also make it compatible with the Ledger through a bridge. Additionally, it will enable programmers to utilize XRP, a native asset of the Ledger, in sidechain settings.

Ripple Partner Makes Next Big Step

Ripple's recent weeks have been filled with activity pertaining to the company's performance and legal issues with the US Securities and Exchange Commission. Filipino I-Remit formally issued an extensive amicus brief in response to the trial judge's decision to permit Ripple's partners to present their arguments in court, which was just made public recently.