HomeNewsUnlocking Possibilities: Coreum's XRPL Bridge Empowers Users to Utilize XRP Across EVM...

Unlocking Possibilities: Coreum’s XRPL Bridge Empowers Users to Utilize XRP Across EVM and Cosmos Chains

- Advertisement -
  • Coreum successfully integrates XRP into its network, enhancing interoperability across blockchain platforms.
  • The upgraded XRPL-Coreum bridge now supports multi-asset transfers, leveraging the Inter-Blockchain Communication Protocol for broader network compatibility.

In a post on X, Reza Bashash, one of Coreum and Sologenic’s founders, has distributed a copy on the official Coreum explorer, which contains 1.2 XRP tokens. This marks progress in interoperability across the blockchain network.

Coreum’s Milestone in Blockchain Interoperability

Since 2023, Coreum has been signaling the launch of a comprehensive XRPL (XRP Ledger) bridge, following the successful early implementation of the bridge.

His team first launched a bridge between XRPL and the Coreum network in the fourth quarter of 2022. However, the original version had limited capabilities, allowing only the transfer of Coreum tokens (COREUM) from XRPL to the Coreum blockchain.

At the time, network participants had managed to bridge over 37 million COREUM tokens through this bridge.

The main focus of the Sologenic team at the moment is the expansion of the bridge’s capabilities, since the end of last year. They announced plans to enhance the functionality of the unit by integrating advanced interoperability features and facilitating the transfer of dual assets.

And in recent developments, the bridge has made it possible to transfer XRP and other assets from XRPL to Coreum smoothly. At the time of writing, an official announcement had not been made, but the team plans to hold an AMA session in order to discuss developments.

Coreum’s official account at X also gave a teaser about the launch, depicting a connection between a blockchain compatible with the Coreum-supported EVM and XRPL. In response, another Coreum co-founder, Bob Ras, gave a detailed overview of the bridge’s capabilities.

According to him, it will facilitate interoperability with EVM-compatible networks, including Polkadot, Avalanche, Ethereum, and BNB Smart Chain. This interoperability will be possible through the use of the Inter-Blockchain Communication (IBC) Protocol.

FYI, the IBC Protocol is a set of protocols and standards that allow various blockchain networks to communicate and transfer assets or data between each other in a decentralized manner.

Therefore, this integration will strengthen Coreum’s position as a key player in the blockchain ecosystem and mark an important step forward towards the main vision of the blockchain network.

On the other hand, the XRPLedger AMM Amendment has been approved, paving the way for XRP holders to earn passive income through automated market makers, as previously reported by ETHNews. To explore this development in more depth, you can watch the YouTube video below.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628