The XRP Ledger’s new EVM-compatible sidechain has rapidly gained traction, recording 1,400 smart contract deployments within its first week of mainnet operation.
This innovative sidechain bridges Ethereum dApps with XRPL’s high-speed, low-cost infrastructure, enhancing interoperability and developer flexibility.
According to COINOTAG, validator participation and integration with cross-chain protocols underscore increasing institutional confidence in XRPL’s expanding DeFi ecosystem.
XRP Ledger’s EVM sidechain launches with 1,400 smart contracts deployed in a week, highlighting XRPL’s growing role in scalable, interoperable blockchain development.
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The launch of the XRP Ledger’s EVM-compatible sidechain on June 30 has catalyzed significant developer engagement, with nearly 1,400 smart contracts deployed within just seven days. This rapid adoption reflects the strong demand for a blockchain platform that combines Ethereum’s Solidity compatibility with XRPL’s hallmark features of low transaction fees and fast confirmation times. Developers benefit from the ability to seamlessly port existing Ethereum dApps using familiar tools like MetaMask and Hardhat, while leveraging XRPL’s 3.4-second block times and capacity for up to 1,000 transactions per second.
The sidechain’s compatibility with Ethereum’s Virtual Machine not only facilitates easy migration of dApps but also enables the creation of cross-chain applications that harness the strengths of both ecosystems. This interoperability paves the way for innovative use cases in tokenization, decentralized lending, and on-chain payments. The recent upgrade to Ripple protocol version 2.5.0 further enhances the network’s capabilities, positioning XRPL as a versatile platform for next-generation decentralized finance solutions.
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Source: https://en.coinotag.com/xrp-ledgers-evm-sidechain-sees-early-smart-contract-growth-and-rising-institutional-interest/