XRP News Today: XRP Ledger Launches EVM-Compatible Sidechain for Ethereum Smart Contracts

The XRP Ledger (XRPL) has officially launched its highly anticipated EVM-compatible sidechain on the mainnet, marking a significant milestone in the evolution of the XRP ecosystem. This development enables developers to build and deploy Ethereum-style smart contracts on XRPL, leveraging the platform's fast and scalable infrastructure. The sidechain is fully compatible with the Ethereum Virtual Machine, allowing developers to use the popular Solidity programming language to create new applications or port existing ones from Ethereum directly into the XRP ecosystem.

The new sidechain connects to the main XRPL through the Axelar bridge, using XRP as the native token to pay for gas fees on all transactions. This integration ensures low-cost, high-speed transactions and seamless value movement between the sidechain and the main ledger. Powered by a Proof of Authority consensus, the sidechain supports efficient and dependable operations, enhancing XRPL’s functionality without compromising its efficiency and reliability.

According to Ripple CTO David Schwartz, this innovation is a strategic move that positions XRPL as a central player in the next generation of decentralized finance (DeFi). The sidechain’s integration with Axelar, Squid, and soon Wormhole enables developers to tap into over 80 connected blockchains, allowing them to design apps that leverage XRP’s deep liquidity while enjoying Ethereum-level programmability. The ecosystem also benefits from tooling partners like Grove, Band Protocol, and Goldsky, who are providing infrastructure, indexing, and on-chain oracle services.

The EVM Sidechain is backed by a robust validator set of over 25 companies, ensuring network resilience and decentralization. This strong set of validators, along with partners like Strobe and Securd, who are already building new DeFi protocols for lending and derivatives on the platform, positions XRP as a major contender in the multichain world of DeFi. As developers start deploying real-time applications, XRP’s utility could expand rapidly, making it a multichain DeFi mainstay.

With more than six million existing wallets, a high transaction speed, and a reputation for consistent uptime, the XRP Ledger is now poised to become a central player in the next generation of DeFi. This move opens the door for XRP to become a serious new contender in the multichain world of decentralized finance, attracting more developers and users to the platform. By enabling the seamless integration of Ethereum-based applications, the XRP Ledger can tap into the vast ecosystem of DeFi and NFT projects, enhancing its appeal to developers who are already familiar with the Ethereum ecosystem.