Ripple Will Support Ethereum Compatible Smart Contracts Soon

Ripple will let developers launch Solidity-based contracts on its network in the coming months, expanding its use cases beyond simple payments and transfers.

Enterprise-geared blockchain infrastructure company Ripple is expanding its use cases by adopting smart contract support on its network. This development will occur over two avenues—one being the XRP EVM sidechain and the other being the XRP mainnet.

“Ripple and the broader XRP community are committed to introducing advanced programmability, including smart contracts, to the XRP Ledger developer ecosystem,” the company said in a release. “This move aims to provide builders, entrepreneurs, and users with additional customizability for various use cases, accelerating innovation and attracting developers looking to leverage XRP Ledger’s expanded capabilities.”

The XRP EVM sidechain will come in the next few months, allowing developers to deploy smart contracts that open up an array of possibilities on the XRP Ledger (XRPL). It has so far been restricted to simple payments. Smart contract functionality will allow developers to build decentralized applications (dApps) for use cases around DeFi, supply chain, NFTs, and more.

As that comes soon, smart contract deployment on the XRPL mainnet is in its “research phase.” Nevertheless, Ripple said the XRP EVM sidechain and smart contract functionality on the mainchain will complement each other. “These advancements will complement each other to create a robust, versatile ecosystem capable of supporting a wide range of applications.”

Ripple Will Ensure Cross-Chain Compatibility With a Wide Range of Blockchains

Furthermore, Ripple will integrate the Axelar network to bridge tokens between the XRPL, XRP EVM Sidechain, and more than 55 blockchains. It will also introduce the wrapped XRP (eXRP) token to facilitate cross-chain transfers and act as the medium for gas payments.

With the smart contracts on XRPL and its new sidechain being EVM compatible, developers can code them using Solidity—the same language used to write EVM-based contracts. Developers with dApps on Ethereum and other EVM-compatible chains can easily port their dApps to Ripple’s chains with minimal changes.

Smart contracts are programs that self-execute when certain conditions are met. Ethereum first brought them on-chain, giving rise to what many now call Web3 or the decentralized web. Ripple has been testing smart contract deployment on XRPL since 2022.

The post Ripple Will Support Ethereum Compatible Smart Contracts Soon appeared first on Live Bitcoin News.