The San Francisco-based firm has begun battle-testing an Ethereum-compatible sidechain for its XRP Ledger for greater cross-compatibility.
The first phase of the launch also includes a bridge between EVM chains and the XRP Ledger Devnet so developers can have the access to both options.According to the announcement, the second phase, which is due in early 2023, will feature a “permissionless EVM sidechain and bridge with a unique design that connects to the XRPL Devnet to expand participation and test scalability within a controlled environment.
The third phase is deployment to mainnet, but no timeframe was given yet. The EVM sidechain, which uses XRP as its native currency, will support Ethereum smart contracts and decentralized applications such as the popular browser wallet MetaMask, Remix, and Truffle.that making the XRPL EVM-compatible could “undermine its efficiency, scalability and security” before adding:
“So, instead of forcing developers to choose between chains, Peersyst and Ripple partnered to create an EVM sidechain connected to the main XRPL.” Ripple wants more than just an Ethereum-compatible sidechain. Back in January, it launched its own NFT protocol and token standard called XLS-20, which allowed developers to mint NFTs directly on XRP Ledger. It wasRipple’s native XRP token has not shown much of a reaction to the devnet deployment, having gained just 1.5% on the day.13% over the past week.
XRP is currently down 86% from its January 2018 all-time high of $3.40. It is likely to get another boost if the company is victorious against the SEC, which has accused it of carrying out an unregistered securities sale though the verdict is not likely to happen until the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nektar, PureTech Health pull plug on merger talks - San Francisco Business TimesNektar cut about 500 jobs and decided to sublease 200,000 square feet in San Francisco after a promising cancer drug failed clinical trials earlier this year.
Read more »
How ‘woke’ policies turned Downtown San Francisco into an urban drug-denCould the rest of San Francisco end up as endangered as the Tenderloin District, the city’s notorious open-air drug den?
Read more »
Marcus Mariota, Atlanta ground attack too much for injury depleted San Francisco 49ers defenseMarcus Mariota threw a pair of touchdown passes and ran for another score against the NFL's top-ranked defense, leading the Atlanta Falcons to a 28-14 victory over the San Francisco 49ers on Sunday.
Read more »
Officers Take 9 Guns Off Tenderloin Streets in San FranciscoOver the course of five days, San Francisco police officers said they seized nine guns and arrested eight suspects in five separate investigations in the Tenderloin neighborhood, the San Francisco Police Department announced on Friday.
Read more »
Candidates weigh in on San Francisco drug crisis ahead of electionSan Francisco's open-air drug crisis and how to deal with it is front of mind for many residents, with less than a month to go before the election.
Read more »
Brendan Fraser apologizes to the city of San FranciscoBrendan Fraser is sorry for a George Of The Jungle stunt that shut down traffic and caused minor panic in the Bay Area back in the '90s
Read more »