By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoXTimesCryptoXTimes
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Notification Show More
Font ResizerAa
CryptoXTimesCryptoXTimes
Font ResizerAa
  • Home
  • News
  • Cryptocurrency
  • Advertise
  • Contact Us
Search
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Have an existing account? Sign In
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
CryptoXTimes > Article > News > Ripple Revolutionizes DeFi With XRPL EVM Sidechain
NewsRipple News

Ripple Revolutionizes DeFi With XRPL EVM Sidechain

Ripple innovates with XRPL EVM Sidechain, enabling interoperability.

Rubab Fatima
Last updated: June 12, 2024 4:50 pm
Rubab Fatima 1 year ago
Share
Ripple Revolutionizes DeFi With XRPL EVM Sidechain

Ripple, the blockchain technology startup behind the XRP Ledger (XRPL), has made a radical announcement that might completely change the scene of distributed finance (DeFi) and real-world asset (RWA) tokenization. 

The most exciting news from Ripple is the XRPL’s incorporation of Ethereum Virtual Machine (EVM) compatibility, which the developer community has much awaited.The official name for the much awaited sidechain,XRPL EVM Sidechain opens the highlight of this news. 

1/ Introducing the XRPL EVM Sidechain: We're excited to bring Ethereum Virtual Machine (EVM) compatibility to the XRP Ledger, enhancing interoperability and unlocking new opportunities in DeFi and RWA. https://t.co/lenc4Bl9TZ

— RippleX 📍#XRPLApex (@RippleXDev) June 12, 2024

This sidechain will open a lot of fresh prospects for XRPL developers so they may use the XRP Ledger’s special characteristics and access the active ecosystem of Ethereum-based apps.

Ripple Leads Blockchain Innovation

The idea of interoperability drives this integration from the core. Developers will be able to easily move assets between the two networks by linking the XRPL EVM Sidechain to the XRPL mainnet across a bridge. 

Using encapsulated XRP (eXRP), which both acts as the native asset and the gas token, helps to provide seamless and quick transactions across platforms, thus central to this bridge.

Furthermore, Axelar has teamed with Ripple to act as the sole source of native gas token (eXRP) from the XRPL. With Axelar’s vast network spanning more than 55 blockchains, XRPL and Ethereum may be seamlessly interoperable as well as across a wide spectrum of blockchain ecosystems.

The complexity of the present token transfer system via XLS-38 drives the choice to unify the bridge architecture under Axelar. Ripple seeks to improve user experience and open the path for general acceptance of cross-chain smart contracts by simplifying the procedure into a single bridge solution.

Although the XLS-38 modification prepares the way for XRPL to create unique sidechains, Ripple has underlined the need of community input in guiding next advancements. Over the following 12 to 15 months, the company’s engineers will actively track the adoption and interest in XLS-38 and provide modifications depending on actual usage cases and developer requests.

You Might Also Like

Deutsche Bank Considers Issuing Stablecoin Amid Digital Shift

PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy

Telegram Integrates Elon Musk’s Grok AI in $300M Deal

Berachain Transactions Tumble, Fee Revenues Cut In Half

Trump Media Launches $2.5B Crypto Investment Strategy

TAGGED: Crypto, Cryptocurrencies, DeFi, EVM, eXRP, XLS, XRP, XRPL
Previous Article Shiba Inu Team Urges Caution Amid Growing Scam Concerns Shiba Inu Team Urges Caution Amid Growing Scam Concerns
Next Article Binance Adds Notcoin And Dogwifhat Trading Pairs For Global Users Binance Adds Notcoin And Dogwifhat Trading Pairs For Global Users
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
TwitterFollow
TelegramFollow
LinkedInFollow

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
Bitcoin Could Hit $120K If Fed Cuts Rates Soon
Bitcoin Could Hit $120K If Fed Cuts Rates Soon
Iceland PM Shifts Energy from Bitcoin to Agriculture
Iceland PM Shifts Energy from Bitcoin to Agriculture
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch

You Might Also Like

$BONK Surges 4% as Breakout Above $0.000021 Nears
CryptoNews

$BONK Surges 4% as Breakout Above $0.000021 Nears

By Haider Ali 1 month ago
XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz
Altcoin NewsNews

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz

By Muhammad Ali 2 months ago
MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension
CryptoNews

MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension

By Haider Ali 2 months ago
XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments
NewsCrypto

XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments

By Nayab Fatima 5 months ago
CryptoXTimesCryptoXTimes
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
  • About Us
  • Careers
  • Privacy Policy
  • Risk Disclaimer
Welcome Back!

Sign in to your account

Lost your password?