Ripple Adds Ethereum-Compatible Smart Contracts to XRP Ledger

Alexey BondarevSep, 03 2024 11:23

Ripple Adds Ethereum-Compatible Smart Contracts to XRP Ledger

Ripple is set to add smart contracts to the XRP Ledger (XRPL) developer ecosystem. The move is supposed to attract developers and expand XRPL's capabilities. So it's a big change, many developers were eagerly waiting for.

Smart contracts are coming to XRPL's Ethereum Virtual Machine (EVM) sidechain "in the coming months". Ripple says this will open up new use cases for users, builders, and entrepreneurs. It's a smart play to lure more developers to the platform.

The company also plans to bring smart contracts to the XRPL mainnet. But that's still in the research phase. No specific timeline has been given for this deployment.

Smart contracts are self-executing agreements stored on the blockchain. They automatically progress when certain conditions are met. These contracts handle transactions without middlemen.

The applications of smart contracts are wide-ranging. They're used in decentralized finance (DeFi) and supply chains. Popular blockchain platforms like Ethereum and Solana already use them for decentralized applications (DApps).

Ripple is keen to work with DeFi developers. They want community input on design specifics. The company is inviting programmers familiar with EVM languages to explore possibilities on its sidechain.

The sidechain was built for developers using Ethereum-based smart contracts. It provides a familiar environment for deploying DApps. Developers can use Solidity, a programming language for Ethereum smart contracts.

Ripple developed the sidechain with blockchain firm Peersyst. The company believes this will make the blockchain more appealing to developers. It's a no-brainer, really.

"This sidechain will bring Ethereum Virtual Machine (EVM) compatibility to the XRP community," Ripple stated. It allows developers to use familiar tools and programming languages. This move could broaden XRPL's appeal to developers globally.

Ripple plans to keep pushing forward. The company aims to add smart contracts to the mainnet by 2025. It's all part of their grand plan to increase XRPL's programmability. Let's see if it pays off.

Disclaimer and Risk Warning: The information provided in this article is for educational and informational purposes only and is based on the author's opinion. It does not constitute financial, investment, legal, or tax advice. Cryptocurrency assets are highly volatile and subject to high risk, including the risk of losing all or a substantial amount of your investment. Trading or holding crypto assets may not be suitable for all investors. The views expressed in this article are solely those of the author(s) and do not represent the official policy or position of Yellow, its founders, or its executives. Always conduct your own thorough research (D.Y.O.R.) and consult a licensed financial professional before making any investment decision.

Latest News

Grayscale Predicts Bitcoin Will Break Four-Year Cycle, Hit New Highs in 2026

Bitcoin's recent 32% decline from all-time highs may represent a local bottom rather than the start of a prolonged bear market, with asset manager Grayscale arguing that evolving market dynamics will

Nearly $1 Billion In Crypto Bets Wiped Out As Bitcoin Slides Below $86,000 Mark

Bitcoin dropped below $86,000 on Monday as nearly $1 billion in leveraged cryptocurrency positions were liquidated, extending a selloff that has erased almost 30% of the token's value since early Octo

Satoshi-Era Coins Move For First Time In 15.7 Years During Mining's 'Harshest Environment Of All Time'

A Bitcoin miner wallet dormant since March 2010 transferred 50 coins worth approximately $4.33 million in early December, marking one of the oldest movements of the cryptocurrency in 2025. The activat

Related News

Ripple Announces Ethereum-Compatible XRP Sidechain for Q2 2025 Mainnet Debut

Ripple announced Tuesday that its Ethereum Virtual Machine-compatible sidechain for the XRP Ledger will launch on mainnet during the second quarter of

Ripple Integrates Wormhole Protocol to Connect XRP Ledger Across 35+ Blockchains

Ripple announced its integration of Wormhole, a cross-chain messaging protocol, into the XRP Ledger and its EVM-compatible sidechain, enabling seamles

7 Ways Banks Are Leveraging Ripple's Blockchain Solutions

Blockchain technology has steadily gained traction in the banking sector over the past five years. After early experiments, many banks moved from pilo

Bitcoin Developers Eliminate 80-Byte Transaction Limit, Potentially Challenging Ethereum's Dominance in Smart Contracts

Bitcoin developers approved a significant protocol change this month that could position the original cryptocurrency to compete directly with Ethereum

Ripple Plans XRP Report Expansion Following 50% Institutional Growth

Ripple announced Monday it will sunset its current quarterly XRP markets report format after Q2 2025, planning to expand future versions with deeper i

Related Research Articles

New Crypto ETFs to Watch in 2025: Top 10 Funds Likely to Launch by the End of Summer

The summer of 2025 is shaping up to be a breakthrough season for crypto exchange-traded funds (ETFs) beyond just Bitcoin and Ethereum. In the first ha

Ripple’s XRP Coin Burn Explained: Why It Could Be a Game-Changer for Crypto Investors

Coin burning involves permanently removing tokens from circulation, effectively reducing the supply. By adopting this approach, Ripple aims to create

Multichain Interoperability Guide: Complete Cross-Chain Crypto Solutions for 2025

Ripple's announcement of integrating Wormhole, a leading cross-chain messaging protocol, into the XRP Ledger exemplifies the industry's push toward mu

Solana vs. Ethereum: 6 Crucial Advantages of SOL, 3 Reasons Why ETH Still Won't Fall

Two altcoins have always been especially notable in the always changing terrain of cryptocurrencies: Ethereum and Solana. Both have created important

10 Undervalued Altcoins for 2025 Backed by Real Data, Not Hype

The cryptocurrency market in 2025 has roared back to life, with Bitcoin recently hitting an all-time high around $123,000 and the total crypto market

Related Learn Articles

RISC-V vs EVM: Exploring Vitalik Buterin’s Plan to Upgrade Ethereum’s Execution Layer

Ethereum co-founder Vitalik Buterin has proposed replacing the Ethereum Virtual Machine (EVM) with RISC-V architecture. This pivotal shift represent

Understanding Smart Contracts: A Battle for the Future of Finance

A silent revolution is underway in finance. Programmable money - digital currency with built-in logic - is redefining the foundations of value exchang

EOA vs. Smart Accounts: What’s the Difference and Why It Matters?

When you go DeFi, you're not only in charge of your own finances, but you're also fully responsible for protecting your personal information. It’s tim

Smart Accounts Explained: The Future of Blockchain Wallet Security

As the blockchain technology changes and security becomes a critical issue, smart accounts have emerged as a groundbreaking innovation that promises t

Ethereum Pectra Upgrade Explained: Account Abstraction, Staking, and Scalability

The Ethereum Pectra upgrade represents the most significant advancement in Ethereum's development roadmap since the 2022 Merge, combining the previous

Ripple Adds Ethereum-Compatible Smart Contracts to XRP Ledger | Yellow.com