Ethereum Sidechain Represents the Biggest Threat to XRP Ledger, Claims XRPL Foundation Official
In a recent conversation within the XRP community, Thomas Silkjær, the head of analytics and compliance at XRPL Foundation, expressed his concerns about the rising popularity of Ethereum Virtual Machine (EVM) sidechains. Silkjær went as far as labeling them as the “single biggest direct attack” on the XRPL protocol. In a personal capacity, he criticized the endorsement of EVM sidechains by entities that are supposed to champion the interests of XRPL.
According to Silkjær, these sidechains do not bring any significant benefits to the XRPL ecosystem and fail to attract new developers or adhere to its unique development principles. He pointed out that these developments deviate from the original vision of XRPL’s development, as outlined by David Schwartz, Ripple’s chief technology officer.
Schwartz had previously stressed the importance of innovation over imitation, which directly contradicts the current trend of adopting EVM sidechains.
Silkjær emphasized that the concern lies not in the ability to bridge to an EVM chain, as it is already possible, but rather in the marketing tactics that portray it as “the XRPL.” According to him, this dilutes the essence of XRPL, and the entity responsible for protecting it is responsible for this watering down.
Silkjær expressed disappointment in the loss of focus on attracting smart contract developers to XRPL through innovative technologies developed in the spirit of XRPL. He also expressed worry regarding what he perceived as a shift towards a more XRP-centric agenda, rather than a technology-driven approach, within the XRPL stewardship.
This conversation among the XRP community follows growing speculation about the circulation of approximately $36 million worth of XRP on alternative chains, presented as wrapped assets.
These remarks by Silkjær shed light on the internal deliberations within the XRPL Foundation and the broader XRP community regarding the strategic direction of the protocol in light of evolving industry trends.