Ripple to Merge its Side Chain XRP Ledger with Ethereum EVM

    Tanya Sharma
    Tanya Sharma
    Published on October 18, 2022 4:20 PM

    Updated on January 25, 2023 8:47 PM

    The recent win against U.S Securities and Exchange Commission (SEC) boosted the moral and enthusiasm of developers as well as of Ripple's CEO to bring new changes.
    Ripple to Merge its Side Chain XRP Ledger with Ethereum EVM

    After the start of a test phase of Ripple's new XRP Ledger sidechain, users are anticipated to be able to communicate with Ethereum-backed decentralized apps (dApps) in the future.

    Peersyst Will Develop the XRP Ledger

    Peersyst, a provider of blockchain software, has introduced an Ethereum-compatible sidechain on the XRP Ledger's development network, Peersyst and RippleX reported on Monday. Devnets, or developer networks, are intended to test and troubleshoot new technology. They are distinct from a blockchain's primary network, or mainnet.

    This indicates that the XRPL sidechain for Ethereum is currently operational, though it is still in its infancy. The Ethereum network and other Ethereum Virtual Machine (EVM) blockchains, including Avalanche, leverage the Solidity programming language to create applications and smart contracts. The XRPL sidechain, however, uses XRP as its native currency, not Ethereum.

    A Peek into the Past

    In September 2021, more than a year ago, Ripple CTO David Schwartz stated that an EVM-compatible chain on the XRPL was being developed.

    “Speaking of DeFi, bringing Ethereum smart contracts to the XRPL could lower the barriers to entry for developers to build powerful DeFi apps with cross-chain interoperability.”- He added later.

    Ripple’s Own NFT Platform

    Just making Ethereum-based smart contracts available isn't all that Ripple hopes to do. Perhaps in January, it debuted the XLS-20, its own NFT protocol for the XRPL, on its devnet, enabling developers to launch NFTs directly into the XRPL mainnet. On September 13, the XRPL mainnet was given the go-ahead to launch the XLS-20 technology, although it has not yet gone live.

    According to Mayukha Vadari, a software engineer at RippleX, developers are not required to select between XRPL- and EVM-backed blockchains. Additionally, developers will have access to XRPL's transactions and be able to integrate Solidity-based smart contracts with XRPL.

    Vadari also revealed that the EVM sidechain project's third phase, which would introduce the EVM chain to the XRPL mainnet at an as-yet-undetermined time, will begin early in 2019.

    XRP’s onGoing Clashes

    The current announcement coincides with the US Securities Exchange Commission's (SEC) nearly two-year-old lawsuit against Ripple, which may have hampered the acceptance and growth of the global settlement network. 

    Since it first piloted a CBDC private ledger for banks in March 2021, Ripple has apparently been looking at the central bank digital currency (CBDC) market. It most recently formed a partnership with The Royal Monetary Authority of Bhutan in September 2022.