XRP Ledger Will Connect with Ethereum Virtual Machine

JAKARTA – Ripple has received significant developments, one of which is XRP Ledger compatibility with the Ethereum Virtual Machine (EVM). This information was conveyed by the development team Ripplex on Monday, October 17, 2022. This is the latest development of XRPL that Ripplex is doing with Peersyst.

Ripplex has announced the introduction of XRPL side chain XRPL which is XRP-based and compatible with EVM. The XRP distributed ledger project is the sixth largest crypto project by market cap, and XRP's core developers have wanted to make the project compatible with smart contract processes for some time.

Some accounts say XRP developer David Schwartz conceived the idea in 1988. According to Ripplex, the XRPL network is the first phase of the EVM sidechain and is being introduced by Peersyst Technology.

“The first phase of this EVM sidechain is currently available for testing on XRPL Devnet,” the announcement details. “Using a bridge, developers can test the Devnet XRP exchange between the EVM sidechain and the XRP Ledger to: (1) Assess available technologies. (2) Deploy their existing Soliditas app on the EVM sidechain and access the XRPL Devnet user base,” the statement reads as quoted from Bitcoin.com News.

Compatibility with Ethereum Virtual Machines has been addressed by several alternative blockchain networks over the past few years. Phase two of XRPL will begin in early 2023 and will "feature the EVM sidechain and bridge without permission," according to a blog post written by Ripplex developer Mayukha Vadari.

“Throughout all three phases, the EVM sidechain will feature block times and finality comparable to the XRPL Mainnet and support smart contracts and Ethereum applications such as Metamask, Remix, and Truffle.

Meanwhile, Ripple's main coin, XRP, has seen a 1.5 percent increase in price in the last 24 hours. As of writing, XRP is trading at IDR 7,360, according to Coingecko data.