XRP LEDGER EVM-SIDECHAIN MAINNET LAUNCHES: Ripple officially introduced the XRP Ledger's Ethereum Virtual Machine (EVM) sidechain to the mainnet in an bid to improve the ecosystem's interoperability and allow developers to deploy their Ethereum-based decentralized applications (dapps) with the XRPL. The development adds EVM-compatible smart contracts while maintaining a connection to the XRPL, giving developers access to the ecosystem at a low cost, Ripple said in a blog post. It is designed to eliminate the trade-off between EVM compatibility and XRPL’s own advantages, opening the door for dapps to lean into XRP’s payments infrastructure. The sidechain operates as a separate blockchain that is parallel and connected to the XRP Ledger over the Axelar bridge, an interoperability protocol. XRPL’s native token, XRP, will serve as the native gas token for the sidechain.
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