XRP Ledger Gets Ethereum Boost: Ripple Launches New Sidechain

XRP Ledger Receives Boost with Ripple’s New Sidechain Integration

Ripple Labs has unveiled the XRPL EVM Sidechain, a new solution aimed at enhancing blockchain interoperability between the XRP Ledger (XRPL) and the Ethereum Virtual Machine (EVM). By bridging these two networks, Ripple aims to provide developers with new opportunities in decentralized finance (DeFi) and real-world asset (RWA) tokenization.

To facilitate this integration, the XRPL EVM Sidechain Bridge will utilize wrapped XRP (eXRP) as both the native asset and gas token. This bridge ensures seamless asset transfers between the XRPL and the EVM sidechain, ensuring interoperability and efficient transaction processing.

Ripple’s technical team is prioritizing user and developer experience, as well as the security of the bridge, to ensure smooth asset bridging. To achieve this, Ripple has chosen to partner exclusively with the Axelar bridge, a battle-tested and production-ready decentralized bridge operated by a network of validators. Axelar’s strength as a bridge will enable the introduction of eXRP as a native currency to the XRPL EVM sidechain.

Since this announcement, the price of XRP has seen a 2.34% increase in the past 24 hours, potentially reflecting growing investor confidence in Ripple’s strategic plans and technological advancements.

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