The first XRP Ledger (XRPL) Ethereum Virtual Machine (EVM) compatible sidechain has gone live on the parallel test network, XRPL Devnet, Ripple developers announced on Monday.
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Fast facts
- An EVM-compatible side chain brings Ethereum smart contracts to the XRP ecosystem.
- It also lowers barriers to entry for cross-chain application developments, according to Ripple Chief Technology Officer David Schwartz.
- In the next phase of testing, planned for early 2023, developers intend to make the EVM sidechain and bridge permissionless.
- The final phase is the launch of a permissionless EVM sidechain and bridge on the XRPL mainnet.
- XRP was trading at US$0.47 at 7:30 p.m. in Hong Kong, according to data from CoinGecko.
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