Ripple has begun testing an XRPL sidechain that is interoperable with Ethereum.
The sidechain would support 1000 TPS and would be compatible with Ethereum apps like as Metamask, Remix, and Truffle.
Peersyt Technology has released a sidechain that incorporates the Ethereum Virtual Machine (EVM) into Ripple’s XRP Ledger (XRPL). The sidechain is now accessible for developers to test on XRPL Devnet before it goes live.
According to the statement, a bridge has been built between an EVM-compatible chain and the XRPL Devnet, eliminating the need for developers to select between the two networks. This advancement implies that developers will be able to easily leverage XRPL’s fast and inexpensive transactions feature while also providing smart contract functionality to XRPL.
It also implies that developers might use XRP as the native token to implement smart contracts and access DeFi protocols. The sidechain would support 1000 transactions per second (TPS) and would work with Ethereum (ETH) applications like as Metamask, Remix, and Truffle.
Meanwhile, this is only the beginning of the project. The second step will begin in early 2023, when the EVM sidechain will become permissionless and more testing will be conducted in a controlled environment. The sidechain would be implemented on the XRPL mainnet in the project’s third stage.
The creators did not provide a start date for the third step.
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