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.
Tomorrow we will publish a user guide for all #XRPLcommunity to use and test the #EVMsidechain and create their $XRP accounts on @MetaMask
— 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
The XRPL continues to see unwavering development despite legal woes in the US. Last week, developers launched a fiat on/off-ramp and extended the multisig list for multisig addresses.
Unsurprisingly, as a result, the network has continued to see growing adoption and influencer mentions in recent weeks. Notably, whale activity has spiked as well.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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