Prominent XRP Ledger (XRPL) validator Vet recently spotlighted a convenient UI for seamlessly bridging XRP to the EVM sidechain on the devnet.
The recent disclosure demonstrates the behind-the-scenes progress made toward launching the XRPL bridge and the EVM sidechain to the public. Notably, these products are expected to help bolster interoperability for the XRPL ecosystem.
In a recent post on X, Vet confirmed his plans to bridge XRP tokens to the EVM sidechain on the devnet, lauding the impressive convenience of the user interface. According to him, he is looking to deploy a smart contract on the sidechain when he successfully bridges the XRP to the chain.
Very convenient UI to bridge XRP to the EVM Sidechain ! (all dev net)
Have a EVM sidechain contract ready to deploy once the dev net XRP gets bridged, my first smart contract attempt on the EVM sidechain ! pic.twitter.com/eQtWdg7HEE
— Vet 🏴☠️ (@Vet_X0) April 21, 2024
For context, when it officially launches, the EVM sidechain will allow developers to build and launch Ethereum-based smart contracts for the XRPL. This functionality is expected to help bolster the XRPL DeFi ecosystem, which is gradually becoming more robust with the launch of the AMM functionality and the upcoming launch of the native lending protocol.
Vet noted that the launch of the test smart contract would mark his first attempt at deploying a contract on the EVM sidechain. However, these functionalities are strictly on the devnet, and are not currently available for public use. Despite this, the glimpse into the functionality has generated enthusiasm among proponents.
Media personality and industry commentator Zach Rector recently reacted to the sneak peek, echoing the sentiments across the broader XRP community. “So it begins,” Zach Rector remarked, touting the potential expansion of the XRPL DeFi ecosystem.
Oh boy! So it begins! #XRP 👀👇 https://t.co/seiZMc1kPp
— Zach Rector (@ZachRector7) April 21, 2024
The XRPL EVM Sidechain
The XRPL EVM sidechain, a product of the collaboration between Ripple and Peersyst Technology, seeks to establish a vital link between the XRP Ledger and the vibrant ecosystem of decentralized applications (dApps) on Ethereum.
Developed for speed and security, the sidechain offers impressive capabilities, supporting up to 1,000 transactions per second with a swift block finalization time of only 5 seconds. It leverages CometBFT, a variant of Tendermint.
The EVM sidechain is presently unavailable on the XRPL mainnet. However, it is connected to the XRPL devnet for developmental purposes. Consequently, developers and validators within the XRPL community can explore and test its functionalities before its official public release.
The sidechain has undergone a thorough audit conducted by Bishop Fox, affirming its readiness for deployment pending the attainment of necessary consensus. Noteworthy is Ripple’s recent introduction of the XLS-38 amendment, aimed at integrating the XChainBridge onto the XRPL.
The bridge will facilitate the connection between the XRPL and the EVM sidechain, both of which operate independently. For proper context, deploying the sidechain will not automatically make the XRPL EVM-compatible, hence the necessity for the bridge. As of press time, XLS-38 has not attained validator consensus.
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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