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XRP Ledger officially launches EVM sidechains to achieve cross-chain compatibility with Ethereum
Gate News bot message, The Block reports that the XRP Ledger officially launched EVM sidechains on the Mainnet. This sidechain was co-developed by Ripple, Peersyst, and Axelar, and is built on the Evmos software stack.
The new sidechains run in parallel on the Mainnet, combining the low-cost transaction features of the XRP Ledger and the smart contract capabilities of Ethereum. Developers can now build, migrate, and deploy cross-chain applications that are compatible with Ethereum within their ecosystem.
The sidechain connects to the XRPL Mainnet through Axelar, using wrapped XRP as the native GAS token. Currently, DeFi projects like Band Protocol have already settled in, and there are plans to integrate the cross-chain protocol Wormhole. It is worth noting that although the XRP ledger previously had limitations regarding smart contracts and did not support EVM, Flare Network has already achieved relevant functionality through an EVM-compatible layer.