Blockchain

Ripple Begins Testing XRP Ledger To Access Ethereum Smart Contracts

Ripple is exploring a method for developers to easily install smart contracts created for the bigger and more popular Ethereum blockchain on its XRP Ledger (XRPL) network.

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The Ethereum Virtual Machine (EVM) is the software that powers Ethereum smart contracts.

Ripple announced the launch of an EVM-compatible sidechain – a blockchain that operates in parallel with the main XRPL blockchain – on the company’s devnet, where developers may test solutions before they go live on the main network.

Ripple and XRPL might gain because the work developers have previously put into developing Ethereum smart contracts could be exploited in a wholly distinct environment.

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The declaration Monday is only the first of three steps in a three-part procedure.

The second phase will begin in early 2023, when the EVM sidechain becomes permissionless, which means that anybody will be able to join it.

The third phase, when Ripple will completely install the software, is scheduled for the second quarter.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.