Built by Peersyst and Ripple, the sidechain opens XRPL to cross-chain dApps.
The XRP Ledger (XRPL) has reached a critical milestone with the official mainnet launch of its long-awaited EVM-compatible sidechain on June 30. Within just the first week, nearly 1,400 smart contracts have already been deployed.
XRP Ledger’s New EVM Sidechain Records 1,400 Smart Contract Deployments
In a recent X post, Paul Barron shared that over 1,400 smart contracts have been pushed in the XRP Ledger’s EVM sidechain. This shows developers are eager to use XRPL’s fast and low-cost blockchain.
As CoinGape reported, the new Ethereum Virtual Machine (EVM) sidechain was launched on June 30, opening the door for developers to port existing Ethereum-based decentralized applications (dApps) directly into the XRP ecosystem. By doing so, It combines Ethereum’s flexibility with XRPL’s speed, low fees, and built-in liquidity.
Developed by Peersyst and Ripple, the EVM sidechain works with Ethereum tools like Solidity, MetaMask, and Hardhat. It runs fast, with 3.4-second block times and handles up to 1,000 transactions per second, using XRP for gas fees.
Ripple has launched new features just days after releasing XRPL version 2.5.0. This update shows Ripple’s progress in enhancing XRPL’s technology. A major benefit of this launch is that it allows cross-chain dApps to work. With the addition of Ethereum compatibility, developers can now create apps that use both Ethereum and XRP features. This opens up new opportunities for decentralized finance (DeFi), tokenization, lending, and payments.
Peersyst Technology celebrated the success by emphasizing developer demand: “The need for smart contracts on XRP is crystal clear,” the firm stated in a post. “Almost 1,400 contracts on mainnet in just one week, it’s just Day 1.”
What This Means for XRP
Ripple has taken a significant step forward by launching the EVM sidechain. This development helps Ripple achieve its goal of making XRP more useful in everyday life and broadening how the XRP Ledger can be used beyond just payments.
Additionally, Ripple’s commitment to cross-chain expansion is evident through recent collaborations. Notably, the XRP Ledger has integrated with Wormhole, a leading multi-chain messaging protocol. This step enables developers to build applications that span multiple blockchains, thereby boosting the XRPL’s appeal in areas such as real-world assets and cross-chain payments.
Meanwhile, Axelar Network, the partner for connecting with XRPL, recorded over $100 million in daily cross-chain transactions. This shows that more liquidity is coming into the XRP ecosystem.
In addition to smart contract deployment, the EVM sidechain has already gained support from a robust validator network. At launch, 25 independent companies were already running nodes, signaling growing institutional interest in XRPL’s evolving ecosystem.
