xrp-ledgers-evm-sidechain-launch
The launch of the XRPL EVM sidechain marks a significant expansion in blockchain capability with 1,400 smart contracts deployed in the first week.
Key Points:

  • XRP Ledger’s EVM sidechain deployed 1,400 contracts in its first week.
  • Ripple and Peersyst Technology spearheaded the project.
  • Impact on XRP and ETH markets observed globally.

The launch of the XRPL EVM sidechain signifies a relevant shift in blockchain technology by enabling smart contracts on the XRP Ledger, offering new capabilities to developers.

Development and Adoption


Peersyst Technology developed the EVM sidechain for XRP Ledger, marking a rapid adoption with 1,400 smart contracts within a week. Ripple provides strategic backing for the initiative.

“The need for smart contracts on XRP is crystal clear. Almost 1.4k smart contracts deployed on Mainnet in only 1 week.” — Peersyst Technology, Official Developer, Peersyst Technology, source

Ripple and Peersyst aimed to expand XRPL’s functionality with the new EVM sidechain. 1,400 contracts indicate a robust developer interest, with new tokens emerging on the platform.



Market Impact


This launch influences markets as XRP gains new roles as a gas asset, affecting Ethereum and XRP dynamics. Decentralized apps find new deployment pathways, growing the blockchain economy.

The financial realm could see moisture liquidity flows with this interoperability, potentially driving XRP demand. Decentralized finance volume shows an increase post-launch, a notable observation.

Future Predictions


Event reactions hint at sustained growth in blockchain technology. Historical precedents suggest such launches can invigorate markets, as seen in other networks’ EVM compatibility launches.



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