TechFlow, June 30 — According to The Block, the Ethereum Virtual Machine (EVM)-compatible sidechain for the XRP Ledger has officially launched on mainnet, enabling developers to build, port, and deploy cross-chain Ethereum-compatible applications within its ecosystem.
The XRPL EVM sidechain operates as a parallel blockchain, combining the low-cost transaction capabilities of the XRP Ledger with Ethereum's smart contract functionality, opening new development opportunities for decentralized applications including lending, tokenization, and payments.
Developed collaboratively by Ripple, Peersyst, and Axelar based on the Evmos software stack, the sidechain uses Axelar as the sole bridging solution for transferring assets, including wrapped XRP, which will serve as the native gas token. The sidechain has reportedly attracted DeFi projects such as Band Protocol, Grove, and Squid, and plans to integrate with Wormhole, a cross-chain interoperability protocol connecting over 35 blockchain networks.
