Wednesday, November 30, 2022
HomeCrypto NewsMarketRipple CTO Expresses Excitement Over XRPL EVM Sidechain Development

Ripple CTO Expresses Excitement Over XRPL EVM Sidechain Development

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Schwartz is excited to see what people build on the XRPL EVM sidechain.



In a tweet on Monday, Ripple CTO David Schwartz disclosed that he is excited to see what people build on the XRP Ledger (XRPL) Ethereum Virtual Machine (EVM) sidechain.

As per Schwartz’s statements, Ripple and XRPL developers have been working on the sidechain for some time now.

“It’s been some time coming, but we can’t wait to see what dApps you build with an EVM sidechain on XRPL – testing is now live on Devnet! Send us your feedback so we can keep iterating,” Schwartz tweeted.

It is worth noting that Schwartz first disclosed that developers were working on an EVM sidechain in September of last year, summarizing his thoughts in a Twitter thread. At the time, Schwartz believed that bringing Ethereum smart contract capability to the XRPL could lower the barrier of entry for developers looking to build decentralized apps (DApps) with cross-chain interoperability.

As stated in previous reports, the EVM sidechain promises to combine Ethereum smart contracts with the XRPL’s scalability. Additionally, users stand to access a rich ecosystem of DApps using XRP.

Notably, combined with NFTs, which are also coming to the XRPL via the XLS-20 amendment, the XRPL is quickly becoming a strong Ethereum competitor.

Unsurprisingly, the EVM sidechain development has caught the interest of Gokhstein media founder David Gokhstein, who recently became a firm believer in XRP. In September, the crypto entrepreneur disclosed that he regretted not buying more XRP.

It bears mentioning that the EVM sidechain is currently in the first testing stage. The second stage will see it become a permissionless network, with developers expecting this phase to kick off early next year. Then, notably, the mainnet launch would follow.Β 

Moreover, thanks to the sidechain, users can now hold their XRP on the popular self-custody wallet Metamask.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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