Ripple has launched the Ethereum Virtual Machine (EVM) sidechain on the XRP Ledger, the bridge will be available and crucial for Ethereum smart contract developers.
Ripple announced a bridge between an EVM-compatible chain and the XRP Ledger Development Network. Developers now have access to Solidity-based smart contracts thanks to the sidechain release.
It will particularly be useful for developers seeking cross-chain interoperability to access the sidechain now that it is available on the XRPL Devnet. In essence, the update would provide developers the option of using Ethereum or Ripple-compatible blockchains.
It further stated that the project’s second phase would be released at the beginning of 2023. The XRPL Devnet will be connected to a permissionless EVM sidechain in the following phase in order to increase participation and scalability testing.
“This first phase of the EVM sidechain is currently available for testing on the XRPL Devnet. Using a bridge, developers can test the exchange of Devnet XRP between the EVM sidechain and XRP Ledger to assess available technologies. (Also, developers can deploy) their existing Solidity apps on the EVM sidechain and access the XRPL Devnet userbase.”
This could be a significant turning point for the Ethereum ecosystem and the Ripple Developer. The EVM sidechain and bridge will eventually be made available on the XRPL Mainnet by the Ripple developers.
The creators have not yet established a target date for this stage, which would be the last and last one in the project. Developers can start by experimenting with the new EVM sidechain.
They can do this by integrating Metamask with the EVM sidechain and XRPL Devnet with a XUMM wallet. Developers can now send and receive XRP from the XRPL Devnet to the EVM sidechain.
In the meantime, the price of Ripple (XRP) began to rise, which may have been a result of this news. As of this writing, the price of XRP is $0.4807, down 0.43% over the previous day, according to the market monitoring site CoinMarketCap. The price of Ethereum (ETH) is currently $1,333, up 3.77% over the previous day.
