The Ripple team announced the launch of the testnet of the EVM-compatible XRP Ledger sidechain with a declared throughput of 1000 TPS.
🧵 #DYK XRPL Thread: EVM Sidechain
The Ethereum Virtual Machine (EVM) compatible XRPL sidechain is available on testnet, and brings all kinds of #web3 applications to the #blockchain community.
Check out the intro. #BuiltOnXRPL (1/6)https://t.co/dUfpEoqjWn
— RippleX (@RippleXDev) March 13, 2023
Users were able to connect wallets to deploy smart contracts written in Solidity and interact with them. The sidechain is based on the Tendermint protocol and uses Ethermint for EVM compatibility.
The block generation time is 5.4 seconds. Finalization occurs after it is included in the blockchain and confirmed.
At the time of writing network formed 2,487,215 blocks and made 16,951 transactions.
Previously, the possibility of interaction with the sidechain was provided in devnet. In October 2022, the team promised to launch the main net in the second quarter of 2023.
Recall that Ripple CEO Brad Garlinghouse announced the financial stability of the company amid the collapse of Silicon Valley Bank.
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