XRPL Developer Unveils Benefits of XRP EVM Sidechain: Details

XRPL EVM sidechain creates easy access for users to Ethereum-based apps

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Wed, 28/06/2023 - 8:22

XRPL Developer Unveils Benefits of XRP EVM Sidechain: Details

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Peersyst Technology, one of the core developers of the XRP Ledger (XRPL) protocol, has shared some of the perks associated with the protocol for end users.

Peersyst Technology stand

Taking to its official Twitter account, the team encouraged the members of its community to embrace the EVM sidechain and shared the process needed in order to get started. The Twitter thread that was designed to be educational turned into a question and answer session.

One user, @dsillionaire, then asked Peersyst to state two major reasons why the XRPL EVM sidechain is an awesome one. Taking up the challenge, the developer noted that the new sidechain now makes it possible for core Ethereum-based decentralized applications (dApps) like Uniswap and OpenSea to make their way to the XRPL for everyone's use.

Any EVM platform can integrate XRP now. I.e you can deploy @AaveAave or @Uniswap or platforms such @opensea can also support the network with a small integration effort
— Peersyst Technology (@Peersyst) June 27, 2023

The XRPL EVM sidechain went live on the testnet back in March, as reported earlier by U.Today. According to Peersyst Technology, the integration of EVM-compatible dApps can also be done with no hassle, a very important feature that can generally drive the adoption of the new innovation.

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XRP Ledger's Ethereum Compatible Sidechain Now Accessible on Testnet

Industry-wide EVM push

While the move to integrate an EVM sidechain for the XRP Ledger is important and highly welcome by the community, it is not a unique push as more Layer 1 solutions have been making related moves in the past few months.

Filecoin (FIL) is one of the most remarkable protocols that has also launched the Filecoin Virtual Machine (FVM), its EVM sidechain equivalent. The idea behind these protocols launching EVM compatibility is so that they can tap into the deep liquidity resident on the Ethereum blockchain network as they develop their own native decentralized finance (DeFi) ecosystem.

Besides XRP Ledger and Filecoin, EOS is also one of the protocols that has made this move in recent times.

#XRPL #EVM Sidechain

About the author

Godfrey Benjamin

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.