HomeNewsRipple Smashes Boundaries: XRP, IOU, and ERC-20 Tokens Join Forces with XLS-38d...

Ripple Smashes Boundaries: XRP, IOU, and ERC-20 Tokens Join Forces with XLS-38d Specification, Uniting the XRP Ledger and EVM Sidechain

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  • The new version of the EVM sidechain for the XRP Ledger, Devnet v2, has been launched with significant improvements, including a decentralized bridge design and support for XRP, IOU, and ERC-20 token transfers.
  • The EVM sidechain, developed by Peersyst in collaboration with Ripple, encourages developers to test its new features, and the functionality of the bridge with all supported token types.

On June 26th, a new and enhanced EVM sidechain for the XRP Ledger was made available in a fresh Devnet version (v2). It boasts a decentralized bridge design, built using the XLS-38d specification, and provides support for cross-chain transfers of XRP, IOU, and ERC-20 tokens between the XRP Ledger and the EVM sidechain. Developers will find the sidechain to be equipped with a Proof of Authority (PoA) consensus mechanism.

Developers are encouraged to explore the functionalities of the new Devnet v2, as well as test the bridge using all supported token types. The necessary resources and tools, including the RPC URL, digital asset details, EVM Block Explorer URL, and Bridge URL, are readily available.

This enhanced EVM sidechain sees numerous updates:

      • In the EVM Sidechain, the block time has been improved from 5.4 to 3.5 seconds per block, upgrading chain performance with the use of the Comet BFT consensus algorithm.
      • The Sidechain Block Explorer has been updated, now including smart contract verification. A Cosmos layer Explorer is also under development.
      • The Bridge has been integrated with Faucet support to ease onboarding and now supports bridging ERC-20 and IOU tokens. A new Witness Bridge uses XChain transactions to secure bridge transfers natively between XRPL and the Sidechain.

Developed by Peersyst in partnership with Ripple, the EVM sidechain allows developers to refine their projects and applications faster. Developers can use popular smart contract languages like Solidity while having access to XRP liquidity and a secure bridge to the XRP Ledger.

As a testament to its commitment to security, a thorough audit of the EVM sidechain is set for July, with the results being made public for community review. Both Peersyst and Ripple will address any identified issues, and this information will also be communicated to the community.

Following the approval of the XLS-38d bridge amendment, the EVM sidechain is projected to go live on the mainnet. This requires at least 80% acceptance from the XRPL validator community, who must maintain their vote for a minimum of two weeks.

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Nikita Dmitrievich
Nikita Dmitrievichhttps://www.ethnews.com/
Nikita, a young and ambitious crypto investor who has been actively involved in the cryptocurrency world for the past 6 years. With a keen interest in blockchain technology, Nikita has been investing in various cryptocurrencies and has seen significant returns on his investments. He is passionate about educating others on the potential of cryptocurrencies and frequently shares his insights on social media platforms. Nikita believes that cryptocurrencies are the future of finance and is constantly researching new projects to invest in. With his dedication and knowledge, Nikita is quickly becoming a prominent figure in the crypto community. Business Email: info@ethnews.com Phone: +49 160 92211628