XRPL EVM sidechain officially launched on mainnet, allowing developers to deploy cross chain Ethereum compatible applications

According to BlockBeats, on June 30th, the XRPL EVM sidechain was officially launched on the mainnet, introducing Ethereum smart contracts into the XRP ledger ecosystem. This breakthrough has opened up a new scenario for decentralized applications compatible with Ethereum for XRP ledgers. This sidechain is launched by the blockchain network associated with cross-border payment company Ripple, allowing developers to build, port, and deploy cross chain Ethereum compatible applications within the XRP ecosystem. The official statement states that this parallel running blockchain combines the low-cost transaction advantages of XRP ledger with the functionality of Ethereum smart contracts, opening up channels for new decentralized applications such as lending, asset tokenization, and payments while optimizing infrastructure for speed, security, and scalability. It is reported that the XRPL EVM sidechain is jointly developed by Ripple, Peersyst, and Axelar, and adopts Evmos' software architecture. Although XRP ledger has previously supported limited local smart contract programming, it has not been compatible with EVM. However, the Flare network integrated with the XRP ledger has separately provided smart contract functionality through the EVM compatibility layer. This sidechain is connected to the XRPL mainnet through Axelar as an exclusive cross chain bridge, used for transferring and encapsulating assets such as XRP, which will serve as the native fuel token for the sidechain.