XRP Ledger to Support Ethereum Smart Contracts with New EVM-Compatible Sidechain

Expanding XRP Ledger: Ripple Introduces EVM-Compatible Sidechain and Axelar Network Integration

By adding Ethereum-compatible smart contracts through a new sidechain, Ripple is improving the XRP Ledger and extending its capabilities beyond simple transactions to encompass intricate uses such as token creation and decentralized exchanges. With Wrapped XRP (eXRP) serving as the main token on this sidechain to promote further interoperability and developer involvement, this development incorporates the usage of the Axelar network for cross-chain token transfers.

• With a new sidechain, Ripple will enhance XRP Ledger’s capabilities beyond simple transactions by integrating Ethereum-compatible smart contracts.
• The main token on this sidechain is wrapped XRP (eXRP), and this development includes exploiting the Axelar network for cross-chain token transfers.

Axelar Integration Enables XRPL EVM Sidechain to Bridge 55 Blockchains

Token transfers between the XRPL EVM sidechain and 55 other blockchains will be possible due to the utilization of Axelar, a cryptocurrency bridging service. The native asset and gas token on the sidechain will be wrapped XRP (eXRP), which is XRP represented on other networks.

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Progress towards smart contract functionality is already underway in the XRP Ledger ecosystem with the XRPL EVM sidechain. This sidechain will bring Ethereum Virtual Machine (EVM) compatibility to the XRP community, allowing developers to employ familiar tools and programming languages, thereby broadening the XRP Ledger’s appeal to a global developer community.

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