XRP Ledger Revolutionizes with EVM-Compatible Sidechain, Bridging Ethereum and XRP Communities

• XRP Ledger on the brink of a revolutionary upgrade with the launch of an Ethereum Virtual Machine (EVM) compatible sidechain.
• Peersyst Technologies, the development firm behind the project, emphasizes enhanced security, advanced features, and increased interoperability.

The XRP Ledger (XRPL) is about to undergo a transformative evolution with the imminent launch of its Ethereum Virtual Machine (EVM) compatible sidechain. This groundbreaking development is poised to reshape the blockchain landscape, particularly for Ethereum developers, by providing an attractive platform with familiarity through Solidity, Ethereum’s primary language for writing smart contracts.

Peersyst Technologies, the development firm steering this ambitious project, has revealed that the final components are aligning seamlessly. At the heart of this endeavor is the XChainBridge, currently in the validator voting phase. This bridge plays a pivotal role in enabling the smooth transfer of any token from the sidechain to the XRPL network, marking a significant stride towards fostering interoperability between Ethereum and XRP ecosystems.

Security-First Approach: Rigorous Audits and Tailored Explorer

The EVM-compatible sidechain, acclaimed as “more advanced than ever,” has undergone a thorough audit by Bishop Fox, a renowned security firm. A second audit by another recognized supplier is underway, underscoring an unwavering commitment to security and reliability in the sidechain’s development.

Peersyst Technologies is concurrently working on a bespoke version of the blockchain explorer Blockscout dedicated to this sidechain. This tailored explorer aims to provide users and developers with an intuitive and comprehensive view of blockchain activity within the XRPL EVM-compatible environment.

According to Ripple, notable features of the EVM sidechain include support for 1,000 transactions per second, low transaction confirmation times, and 1 block finalization time, ensuring swift and conclusive transaction confirmations. The full Ethereum Virtual Machine compatibility opens the door for users to seamlessly connect their wallets, interact with, or deploy smart contracts written in Solidity, fostering a closer integration between Ethereum and XRP Ledger communities.