by Mishal Ali
Peersyst Technology, one of the core developers of the XRP Ledger (XRPL) protocol, recently took to Twitter to share some exciting news and perks associated with the protocol for end users.
According to a series of tweets, the XRP Ledger now integrates with any Ethereum Virtual Machine (EVM) platform. It means that platforms such as Aave, Uniswap, and OpenSea can now support the XRP Ledger with a small integration effort.
Any EVM platform can integrate XRP now. I.e you can deploy @AaveAave or @Uniswap or platforms such @opensea can also support the network with a small integration effort
— Peersyst Technology (@Peersyst) June 27, 2023
In a tweet thread, Peersyst Technology also announced the launch of the new EVM Sidechain developed in collaboration with RippleXDev. They invited users to try out the new network and provided simple steps to start.
By accessing WitnessBridge, users can create an XRPL account automatically with 990 XRP in just one click. Furthermore, connecting MetaMask to the network will be done automatically if it is not already saved.
The tweet thread further explained that users could request USD on the XRPL network by clicking on the three dots next to their wallet. This action will provide them with 10,000 USD (TEST) for immediate use.
With the new EVM Sidechain, users can now transfer both XRP and USD tokens through WitnessBridge. XRP will be transferred as a native currency on the EVM Sidechain, while USD will be in the form of an ERC-20 token. The selector allows users to choose the currency they want to send.
For users who cannot see their USD tokens, the tweet advised opening MetaMask and navigating to the “Assets” section. By clicking on “Import tokens” and pasting the contract address (0xff0d22c43c43c6d5d6d17a0109e6605ac7b26489) while editing the name, users will have control of their XRP and USD on the EVM Sidechain.
XRPL Network’s Impressive Market Cap & Future Outlook
As of the tweet’s date, the XRPL network ranked as the fourth largest blockchain globally, boasting a market cap of $25,059,164,832. The integration of EVM compatibility raises questions about the network’s future and its growth potential.
Previously, on June 26, the EVM sidechain for the XRP Ledger was made available on the new version of Devnet (v2). This updated version features a decentralized bridge design using the XLS-38d specification and supports transfers of XRP, IOU, and ERC-20 tokens between the XRP Ledger and EVM sidechain in both directions.
The EVM sidechain utilizes a Proof of Authority (PoA) consensus mechanism, allowing developers to test the new functionality of Devnet v2 and the bridge using all supported token types.
Developed by Peersyst in partnership with Ripple, the EVM sidechain enables faster iteration of projects and applications, leveraging popular smart contract languages like Solidity.
It also provides access to XRP liquidity and a secure bridge to the XRP Ledger. Developers are encouraged to utilize the new EVM sidechain instead of the original version, which will be available at specific URLs for one more month before being retired.
Related Reading | Bitfinex Strives For Financial Inclusion With Its New P2P Feature In Latin America
report this ad
