While 100% EVM-compatible sidechain of XRP Ledger is in the spotlight for XRPL developers, enthusiasts and analysts, its potential effects for XRP crypto adoption might be overlooked. At the same time, the community foresees striking success for XRP adoption in case of this sidechain release.
Liquidity, developer-friendliness, XRP price catalysts: What brings EVM sidechain
Release of XRP Ledger sidechain seamlessly compatible with Ethereum Virtual Machine (EVM) will be "best chance" for XRP cryptocurrency's massive retail adoption. Xscape cofounder Shen Morincome explained why this is crucial for the XRP community and Web3 as a whole.
🧵 Why the XRPL EVM will be the best chance for $XRP to achieve large-scale retail adoption
— Shen (@shenxcrypto) August 2, 2023
And how we can drive it ourselves 🏎️
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First, both XRP crypto and XRPL-based non-fungible tokens will be bridged to the ecosystem of EVM services, including heavyweight DEXes like Uniswap, PancakeSwap or marketplaces Opensea and Blur. At the same time, the launch of such interoperable tokens will not require major changes to XRPL's consensus design.
Also, with access to Ethereum-based infrastructure, the ecosystem of XRP Ledger will be more friendly for newcomers in terms of instruments for operations with coins and NFTs. Users will not need to set up a wallet or accept NFTs manually any longer.
Instead, operations with familiar interfaces like MetaMask or Coinbase Wallet will streamline the processes associated with XRPL-based tokens.
Last but not least, once this sidechain is live, XRP crypto becomes a gas currency of an EVM-compatible network. This, in turn, will be one more natural driver of its retail adoption.
Core infrastructure yet to be built
Trading activity and XRP price might also benefit from the activation of a full-scale EVM sidechain on the top of XRP Ledger.
This integration will be secure as the majority of cybersecurity companies in Web3 have expertise in Solidity smart contracts audits. This is why Ethereum (ETH) will bring battle-tested security to the ecosystem of XRPL-centric dApps.
However, the sphere of XRP Ledger apps still lacks infrastructure for this integration, Morincome concludes.
As covered by U.Today previously, XRPL EVM sidechain by Ripple and Peersyst has been under stress testing since late June 2023.
Alex Dovbnya
