XRP Users can now use Metamask, the popular self-custody wallet.
XRP holders can now create Metamask accounts, according to a tweet on Monday by Peersyst Technology, which is currently working with Ripple developers to roll out an Ethereum Virtual Machine (EVM) compatible side chain for the XRP Ledger (XRPL).
Notably, a guide on how users can do this will be released today to enable users to test the sidechain.
— Peersyst Technology (@Peersyst) October 17, 2022
As reported by The Crypto Basic, XRPL developers announced the launch of the EVM-compatible sidechain for the XRPL yesterday. Notably, the development will bring Ethereum smart contracts to the XRPL. Consequently, developers will be able to combine the robustness of Ethereum smart contracts with the XRPL’s speed and low fees.
Additionally, holders will soon be able to access a rich ecosystem of decentralized apps (DApps) and decentralized finance (DeFi) using XRP. Promising a throughput of about 1000 transactions per second (TPS) with low fees, the EVM sidechain will be a catalyst for even greater XRP adoption.
Notably, developers opted to create a sidechain instead of making the XRPL EVM-compatible as it risked compromising the XRPL’s scalability and security. As per the previous report, the rollout will happen in three phases, with the mainnet launch set for some time after early 2023.
Unsurprisingly, the latest developments have received massive support and excitement from the community.
Can’t wait for this ! https://t.co/aI9N9TVw6H
— _UseCaseCrypto_ (@_UseCaseCrypto_) October 17, 2022