tl;dr
Ripple, through its development arm RippleX, introduced two significant advancements for the XRP Ledger (XRPL). The first is an update to the Ethereum Virtual Machine (EVM) sidechain in collaboration with Peersyst Technology, featuring a new scalable interface for XRPL interoperability. This develop...
Ripple, through its development arm RippleX, introduced two significant advancements for the XRP Ledger (XRPL). The first is an update to the Ethereum Virtual Machine (EVM) sidechain in collaboration with Peersyst Technology, featuring a new scalable interface for XRPL interoperability. This development is part of a structured launch in three phases to ensure thorough testing and increased participation. The second advancement is an amendment to fix a bug in the XRPL Automated Market Maker (AMM) feature, set for activation on April 11, emphasizing the importance of infrastructure updates for smooth operation. Both enhancements are integral to Ripple's strategy to enhance the XRPL's capabilities in cross-border payments and decentralized finance.
The announcement of the EVM sidechain, a collaborative effort between Peersyst Technology and Ripple, marks a notable milestone in the XRPL’s evolution. Through a statement shared by Peersyst Technology via Twitter, the companies highlighted the completion of a significant update for the EVM sidechain. This development introduces a scalable interface that promises to significantly enhance the XRPL’s interoperability capabilities. It is designed to accommodate multiple networks, wallets for each network, and various tokens for each pair of networks. Moreover, it introduces the ability for dynamic bridge creation by users for any ERC20/IOU token, facilitating permissionless cross-chain applications with any asset. The development of the XRPL EVM sidechain has been structured into three phases, ensuring thorough testing and scalability assessments, paving the way for increased participation and interoperability with other blockchain networks.
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