XRP News Today: XRP Ledger EVM Sidechain Sees 1,412 Smart Contracts in First Week

The Ethereum Virtual Machine (EVM)-compatible sidechain of the XRP Ledger has demonstrated early signs of traction among developers, with over 1,400 smart contracts deployed just one week after its launch. On July 7, Peersyst confirmed the strong demand, stating that nearly 1,400 smart contracts had gone live within the first week. As of the latest update, the total number of smart contracts on the platform has reached 1,412.

A closer examination of the network reveals a rising wave of yield-bearing DeFi projects and trading protocols, including versions of Uniswap, being deployed on the platform. This indicates a growing interest in leveraging the XRP Ledger's EVM sidechain for decentralized finance applications.

Despite the high number of smart contracts, the user adoption rate appears more measured. Of the 1,211 new accounts created, over 80% were registered within the first two days of its launch, with subsequent days seeing only a handful of signups. Meanwhile, active accounts have generally remained below 150 since launch, indicating limited day-to-day usage despite a promising developer start.

Market observers noted that the network, developed by Peersyst and built to bring Ethereum-style smart contract functionality to XRP Ledger, is already laying the groundwork for a broader decentralized ecosystem within the Ripple-linked blockchain. From a technical standpoint, the XRPL EVM sidechain appears to be operating smoothly. The network has already processed over 1.12 million blocks with an average block time of just 5.66 seconds. There were no pending transactions recorded in the most recent 30-minute period, suggesting high throughput and low congestion.

On the transaction front, the network has handled over 1,644 XRP transfers. A total of 539 transactions were processed in the last 24 hours, generating a cumulative fee of just 26.1 XRP. The average transaction cost is only 0.048 XRP, reinforcing the chain’s appeal as a low-cost, developer-friendly blockchain. Overall, the XRPL EVM’s activity remains relatively modest compared to Ethereum or Solana. However, its low fees, efficient design, and growing contract base position it as a compelling option for builders exploring scalable smart contract infrastructure.