XRP Ledger’s EVM sidechain recorded 1,400 smart contracts within one week of its mainnet launch on June 30.
The sidechain enables Ethereum dApps to integrate with XRPL, combining low fees and high speed with Solidity compatibility.
Validator participation and cross-chain support show rising institutional interest in XRPL’s multi-chain and DeFi potential.
The XRP Ledger has marked a significant development milestone with the official mainnet launch of its Ethereum Virtual Machine (EVM)-compatible sidechain on June 30. Within one week of its debut, nearly 1,400 smart contracts have been deployed, signaling rapid adoption by developers aiming to utilize XRPL’s low fees and fast transaction times.
The new EVM sidechain allows seamless porting of existing Ethereum-based decentralized applications into the XRP ecosystem. Built by Peersyst and Ripple, the sidechain integrates with standard Ethereum tools such as MetaMask, Solidity, and Hardhat. It is designed to deliver high throughput with 3.4-second block times and can process up to 1,000 transactions per second.
Developers Embrace Smart Contract Capabilities
Developer activity surged immediately after the launch. Peersyst Technology confirmed high demand for smart contract capabilities, citing nearly 1,400 deployments as a clear indication of developer interest. The use of XRP as gas for transactions adds a new utility layer for the native token within decentralized finance ecosystems.
https://twitter.com/paulbarron/status/1942338466911592890
The compatibility of the sidechain with Ethereum has opened the potential for developers to create cross-chain applications that take advantage of both Ethereum and the XRP Ledger features. This innovation renders a wider variety of applications, such as tokenization, lending, and on-chain payments. The development is just a few days following the upgrade of the Ripple protocol to version 2.5.0 through new functionalities on the mainnet.
Validator Network Signals Institutional Support
At launch, the EVM sidechain was supported by 25 independent validators. This early support indicates growing institutional interest in the XRPL ecosystem. Additionally, the XRP Ledger has integrated with Wormhole, a multi-chain messaging protocol, and is collaborating with Axelar Network, which is currently handling over $100 million in daily cross-chain transactions.
The introduction of the EVM sidechain represents a step forward in Ripple’s strategy to expand the XRP Ledger’s functionality beyond payments. With enhanced smart contract capabilities and growing cross-chain connections, the XRPL is positioning itself as a more versatile blockchain infrastructure for Web3 development.
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