- After tests, this technology was deployed to the public
- Sidechain migrates smart contracts from Ethereum to XRP Ledger
- The company also offered to become their validators
XRP Ledger launched EVM Sidechain, which will allow Ethereum smart contracts to be deployed on their own XRPL blockchain. Previously, the team tested the technology on test environments. Now the sidechain can be used by anyone.
Made a new network
Such a sidechain gives Ripple a potential benefit. After all, they have access to the work that Ethereum developers have already done to create smart contracts. But this technology will be used in a separate Ripple ecosystem.
The company calls the EVM Sidechain “a powerful next-generation blockchain.” It has these features:
- High throughput. The network supports up to 1000 transactions per second.
- Fast transaction confirmation. On average, a block is created every 5 seconds.
- Full compatibility with the Ethereum virtual machine (EVM) allows you to connect wallets and deploy smart contracts written in the Solidity language.
- Tendermint technology, which protects the blockchain from the Byzantine General’s dilemma (this is a technological threat associated with potential collusion of validators).
The sidechain works on the Proof-of-Stake (PoS) mechanism. The company offers to become part of the team of validators and stakers.
By the way, today the Ethereum team deployed the Shanghai-Capella update on the Goerli testnet.