The XRP Ledger (XRPL) is almost ready for the launch of its much anticipated Ethereum Virtual Machine (EVM) compatible sidechain, according to developers working on the project.
The project aims to allow Ethereum (ETH) developers, who are used to Solidity, the main programming language for writing smart contracts on Ethereum, to access and build on the XRPL network.
Development firm Peersyst Technologies says on the social media platform X that the new sidechain is waiting for a few components to come together, such as its XChainBridge which is currently being voted on by validators.
The bridge aims to allow users to automatically bridge any token from the sidechain onto the XRPL.
Peersyst also says that the sidechain, which is “more advanced than ever” and has already been audited by security firm Bishop Fox, is going through a second audit with “a recognized supplier” that will be published soon.
The firm also says that a new version of blockchain explorer Blockscout is being built for the sidechain.
According to Ripple, some highlights of the EVM sidechain include:
- Support for 1000 transactions per second, enabling large loads and throughput.
- Low transaction confirmation times, producing a block every 5 seconds.
- 1 block finalization time; once a block is added to the chain and confirmed, it’s considered final.
- Full Ethereum Virtual Machine (EVM) compatibility, enabling you to connect your wallet and interact with or deploy smart contracts written in Solidity.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Natalya Yudina/INelson
