RippleX Introduces EVM Side Chain to XRP Ledger
On March 15th, RippleX, the open platform of Ripple Network, tweeted yesterday that the EVM side chain was available on the test network and brought various Web3 applications to the XRP Ledger community. Its Ethereum Virtual Machine Sidechain (EVM Sidechain) connects directly to the network through an XRP Ledger (XRPL) bridge, and supports processing up to 1000 transactions per second.
RippleX: EVM compatible XRPL side chain available on test network
Analysis based on this information:
RippleX, the open platform of Ripple Network, introduced the Ethereum Virtual Machine Sidechain (EVM Sidechain) to the XRP Ledger community on March 15th. This introduction will enable the XRP Ledger to support Web3 applications, offering new opportunities and functionality for its users. The EVM Sidechain allows developers to create and launch decentralized applications, such as smart contracts, on the XRP Ledger using the Solidity programming language.
The EVM Sidechain connects to the XRP Ledger through an XRPL bridge, enabling the XRP Ledger to act as a secure and decentralized intermediary between Web3 applications and the Ethereum network. This effectively eliminates the need for traditional intermediaries like central exchanges, reducing fees and increasing efficiency.
Moreover, the EVM Sidechain supports a processing rate of up to 1000 transactions per second, making it much faster than the Ethereum network. This significantly improves the scalability of the XRP Ledger, which was already capable of handling high transaction volumes.
With the integration of the EVM Sidechain, the XRP Ledger becomes a more versatile and robust platform with the potential to expand beyond its primary use case as a digital asset exchange. Indeed, with the support of Web3 applications, the XRP Ledger may soon offer secured and decentralized financial services such as lending, borrowing, and insurance.
In conclusion, RippleX has further improved the XRP Ledger platform by introducing the EVM Sidechain. This advancement offers the XRP Ledger community an expanded range of opportunities and functionality, as well as faster and more efficient transactions. The XRP Ledger may well become a major player in decentralized finance, thanks to these innovations.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/6979/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Why did LTC rise in the past few days (Why can LTC fall so much)?
LTC Why did it rise in the past few days? LTC Why did it rise in the past few d
-
Endgame: MakerDAO’s Plan for the Future
It is reported that Community Governance recently approved the newly proposed constitution of MakerDAO, which is an important step towards Rune Christensen\’s \”Endgame\” plan. One pa
-
Nuclear-Powered Bitcoin Mining Facility Deployed By Terawulf
On April 21st, Bitcoin mining company Terawulf announced the full deployment of its 50 megawatt (MW) share in the nuclear powered Nautilus Cryptomine facility. According to the com
-
What is FCH (FCR)?
What is FCH? What is FCR?According to data from CoinMarketCap, the total tradin
-
Huobi Hong Kong Station: A New Era in Cryptocurrency Trading
According to official news, Sun Yuchen, founder of Wave Field TRON and member of Huobi Global Advisory Committee, revealed during the iPollo Goddess of the Universe Festival that H
-
What does D3 mine? (D3 Coin mining mobile version download)
What does D3 mine? According to official news, what does D3 mine? What can be m
-
Babel Finance Proposes Repayment of $766M Debt with “Babel Recovery Coins”
On March 6, according to the court documents cited by Bloomberg, the crypto financial service provider Babel Finance proposed to repay $766 million of creditor…
-
A-Share Market Shows Slight Growth Despite Decrease in Blockchain and Digital Currency Sectors
According to the news, at the opening of A-share market, the Shanghai Composite Index closed at 3314.77 points, up 0.12%, the Shenzhen Composite Index closed a…
-
The Rise of Dmail NFT Domain Accounts: What It Means for Web3
On April 13th, the Web3 collaboration platform Dmail tweeted that over 200000 Dmail NFT Domain Accounts had been created.
Dmail: Over 200000 NFT domain accounts have been minted
On -
The Rise and Insights of Spot Gold at $2000 Per Ounce
According to reports, the market showed that spot gold stood at $2000 per ounce, the first time since March 2022, rising by more than $30 from a daily low.
Spot gold stood at $2000 -
Marathon Digital’s 2022 Net Loss: Understanding the Situation
According to reports, Marathon Digital, a Bitcoin mining company, suffered a net loss of $687 million in 2022. However, Chief Executive Officer Fred Thiel stated that the loss of $
-
#Article Title: Understanding the Recent Transfer of 300 ETHs to Tornado Cash
According to reports, according to CertiK monitoring, the EOA address 0x60f7 has transferred 300 ETHs (approximately $561000) to Tornado Cash.
EOA address 0x60f7 has transferred 30 -
When will Huobi circulate?
When will Huobi circulate? According to official news, when will Huobi circulate
-
Uniswap May Be Entering the Wallet Space
According to reports, Uniswap, a decentralized exchange, said on Twitter: \”If you are building a wallet, what necessary functions will you include?\” Netizens s…
-
Opensea’s Response to Changing Market Trends
According to reports, Opensea\’s official Twiiter announced that in view of the changes in the market ecological environment, the following major adjustments wi…
-
When will the investment in IPFS pay off (when does IPFS start charging)
When will the investment in IPFS pay off? I have always advised everyone not to