Ripple Labs’ CTO, David Schwartz, has drawn the attention of the cryptocurrency community to an upcoming feature on the XRP Ledger (XRPL). In a tweet, Schwartz mentioned the “EVM sidechain,” confirming that it was one of the features discussed at the ApexDevSummit earlier in the year.
The EVM sidechain is set to be released on the XRPL and will work in conjunction with XLS-38d, a decentralized bridging standard connecting the XRPL mainnet with external networks. This feature is crucial as it will allow the XRPL to connect with the broader Ethereum ecosystem.
By enabling integration with Ethereum, which is known for its substantial liquidity and DeFi capabilities, the XRPL aims to expand its utility and provide users with more opportunities for growth.
Ripple’s XRPL has been actively working on various innovations in recent months to enhance its infrastructure and utility. Alongside the EVM sidechain, the protocol is developing an automated market maker (AMM) to serve as a cornerstone of the network, similar to Uniswap in the Ethereum ecosystem.
The XRPL team is also focused on addressing bugs and implementing upgrades across the platform. With the imminent launch of the EVM sidechain, the XRPL is poised to enter a new era and strengthen its position in the DeFi space.