Cross-border payments giant Ripple has disclosed its intention to include smart contracts in the XRP Ledger (XRPL) ecosystem. This is a major step forward in the programmability and versatility of the platform.
According to the blog, the project intends to supercharge the XRPL’s features using a two-way strategy. The team will first implement native smart contract functionality in the XRP Ledger Mainnet. It is currently in the research phase. Meanwhile, they plan to release an XRPL EVM Sidechain in the next few months, providing Ethereum Virtual Machine compatibility to the XRP community.
These evolutions aim to be mutually beneficial, in this manner establishing a solid ecosystem that can suit a diverse range of applications. The native smart contracts on the Mainnet will build on existing features like Escrows, NFTs, and the DEX + AMM. Hence, Minting coins will anchor Ledger to the efficient and secure operation it is known for.
Ripple expands developer reach with XRPL EVM sidechain
Meanwhile, the XRPL EVM Sidechain created with Peersyst will enable developers to utilize the same tools and programming languages. Through this step, the XRP Ledger is more attractive to a worldwide pool of developers, speeding up innovation in this field.
One of the strengths of the sidechain is its partnership with Axelar. This partnership allows seamless transactions passed between the XRPL EVM Sidechain, the XRP Ledger, and over 55 other third-party blockchains. This interoperability ability promises to bring in new opportunities for dApps. It can utilize both XRP Ledger and EVM smart contracts simultaneously.
However, this is a timely development since the need for more flexible and interoperable blockchain solutions is becoming increasingly evident. By fusing the XRP Ledger’s established strengths with smart programmability, Ripple aims to build a stage that will cater to a new batch of applications in the digital economy.
