- Peersyst Technology moves forward with Ripple towards launch of XChainBridge, improving XRPL interoperability with Ethereum Virtual Machine.
- Sidechain EVM proposal for XRPL receives positive votes, approaching consensus needed for implementation.
Peersyst Technology, together with Ripple Developers, is marking an important milestone as it nears the launch of a Sidechain EVM for the XRP Ledger (XRPL), known as XChainBridge. This innovation promises to be a momentous step in interfacing XRPL with the broader Ethereum ecosystem and its smart contracts.
Compatibility with Ethereum Virtual Machine (EVM) is not a novelty in the blockchain world; however, its integration into XRPL opens up a range of opportunities for Ripple enthusiasts.
With Ethereum as the epicenter of Decentralized Finance (DeFi), accessing its liquidity through XRPL is not only a matter of convenience but also a strategic expansion of capabilities.
The update by Peersyst Technology signals that we are in the home stretch towards the launch of XChainBridge. The proposal for its implementation has been published and already has favorable votes, although the necessary consensus for approval is not yet reached. The Sidechain EVM has already undergone a thorough audit by Bishop Fox, which reinforces confidence in its security and functionality.
Soon, Peersyst Technology plans to roll out a new version of XChainBridge that promises to improve XRPL’s interoperability with other EVMs. To fine-tune this tool, a new user interface has been enabled and a developer SDK has been implemented to facilitate and optimize the use of the bridge.
The relevance of this update is not minor. XRPL is expanding its mechanisms with these initiatives, such as the construction of a platform for non fungible tokens (NFT) by SBI Holdings, thus demonstrating its versatility. In addition, other enhancements such as FixReducedOffersV1 and FixNFTokenRemint are being implemented to further refine the XRPL experience, highlighting its evolution into a more inclusive and robust system for AMM and digital collectibles applications.
With these updates, XRPL is poised to solidify its position as a key system in the cryptocurrency and decentralized finance industry.
