{"id":14122,"date":"2022-10-17T22:26:53","date_gmt":"2022-10-17T22:26:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-and-peersyst-devs-push-xrp-toward-ethereum-compatibility-with-first-phase-of-an-evm-sidechain-altcoins-bitcoin-news\/"},"modified":"2022-10-17T22:26:53","modified_gmt":"2022-10-17T22:26:53","slug":"ripple-and-peersyst-devs-push-xrp-toward-ethereum-compatibility-with-first-phase-of-an-evm-sidechain-altcoins-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-and-peersyst-devs-push-xrp-toward-ethereum-compatibility-with-first-phase-of-an-evm-sidechain-altcoins-bitcoin-news\/","title":{"rendered":"Ripple and Peersyst Devs Push XRP Toward Ethereum Compatibility With First Phase of an EVM Sidechain \u2013 Altcoins Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

According to an announcement from Ripple\u2019s core development team Ripplex, developers have introduced the first step toward Ethereum Virtual Machine (EVM) compatibility with the XRP-based sidechain XRPL. The XRPL is now live on Devnet and developers can \u201cassess available technologies,\u201d alongside deploying \u201cexisting Solidity apps on the EVM sidechain.\u201d<\/strong><\/p>\n

Ripple Core Developers and Peersyst Reveal First Phase of the EVM Sidechain XRPL
<\/strong><\/h2>\n

On Monday, October 17, Ripplex announced<\/a> the introduction of the XRP-based and EVM-compatible side chain XRPL. The distributed ledger project XRP<\/a> is the sixth largest crypto project by market capitalization, and XRP<\/a> core developers have wanted to make the project compatible with smart contract processes for quite some time. Some accounts<\/a> say XRP<\/a> developer, David Schwartz, conceived the idea back in 1988. According<\/a> to Ripplex, the XRPL chain is the first phase of the EVM sidechain<\/a> and it\u2019s being introduced by Peersyst Technology<\/a>.<\/p>\n

\u201cThis first phase of the EVM sidechain is currently available for testing on the XRPL Devnet,\u201d the announcement details. \u201cUsing a bridge, developers can test the exchange of Devnet XRP<\/a> between the EVM sidechain and XRP<\/a> Ledger to: (1) Assess available technologies. (2) Deploy their existing Solidity apps on the EVM sidechain and access the XRPL Devnet userbase.\u201d<\/p>\n

\"Ripple
Infographic from the blog post written by Mayukha Vadari for <\/span>Ripplex developers.<\/figcaption><\/figure>\n

Compatibility with Ethereum\u2019s Virtual Machine has been addressed by a handful of alternative blockchain networks during the last few years. Phase two of XRPL will start in early 2023 and it will \u201cfeature a permissionless EVM sidechain and bridge,\u201d the blog post written by Ripplex developer Mayukha Vadari details. \u201cThe end goal is phase three: a permissionless EVM sidechain and bridge available on the XRPL Mainnet slated to follow,\u201d Vadari\u2019s blog post explains. Vadari\u2019s blog post further adds:<\/p>\n

\n

Throughout all three phases, the EVM sidechain will feature block and finality times comparable to the XRPL Mainnet and support Ethereum smart contracts and applications like Metamask, Remix, and Truffle.<\/p>\n<\/blockquote>\n

Following the announcement, the native crypto asset xrp (XRP)<\/a> is down 0.6% during the last 24 hours and 10.6% in seven days against the U.S. dollar. Despite recent losses, two-week stats show XRP<\/a> is up 6%, and over the last month, XRP<\/a> has gained 33.7%. Year-to-date, however, XRP<\/a> has lost 58.1% in value against the U.S. dollar.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
Altcoins<\/a>, Assets<\/a>, Bridge<\/a>, David Schwartz<\/a>, Ethereum<\/a>, Ethereum Virtual Machine (EVM)<\/a>, Ethereum XRP<\/a>, EVM<\/a>, Mayukha Vadari<\/a>, metamask<\/a>, Peersyst<\/a>, Remix<\/a>, Ripple<\/a>, Ripple Labs<\/a>, Ripplex<\/a>, sidechain<\/a>, Smart Contracts<\/a>, Smart Contracts XRP<\/a>, Solidity<\/a>, Truffle<\/a>, XRP Ethereum<\/a>, XRPL sidechain<\/a><\/div>\n<\/div>\n

What do you think about Ripple\u2019s XRPL sidechain? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n