Back to the list

Ripple Shares Big Update on XRP Ethereum Sidechain Launch

source-logo  u.today 24 January 2024 11:36, UTC

In a tweet, RippleX shared the latest update on the XRP Ledger EVM sidechain, developed by blockchain technology firm Peersyst in collaboration with Ripple.

In line with this, RippleX delivers an update from Peersyst, which discusses the progress and upcoming news. Peersyst highlighted that 2024 has started, being closer than ever to the launch of the long-awaited EVM sidechain for XRP Ledger.

🧬The #EVMSidechain for #XRPLedger (🧵3/6)

The sidechain is more advanced than ever. After the audit with @bishopfox, a second one has been carried out with a recognized supplier that we will soon publish.

The latest changes are being applied and a blockchain update has been… pic.twitter.com/QA7pESWQ6x

— Peersyst Technology (@Peersyst) January 23, 2024

The RippleX team has already published the XChainBridge public amendment, which is now open for voting. This is a necessary prerequisite for the launch of the EVM sidechain, and validators have currently cast 7 of the 28 votes required.

Regarding the work done thus far, Peersyst stated that the sidechain is more advanced than ever before; after the audit with Bishop Fox, a second one has been carried out, whose details will be published soon.

The latest upgrades are being deployed, and the Cosmos SDK has gotten a blockchain update. Validators will soon be able to vote on the upgrade, which will incorporate Cosmos version 0.47 and Ethereum's EIP3855.

In addition, a new version of the bridge is on its way, allowing users to automatically and dynamically bridge any existing token on the EVM sidechain to the XRP Ledger. This would enable the EVM sidechain to serve as a gateway and connection to the rest of the EVMs, facilitating transactions and the use of all XRP Ledger Mainnet functionalities for all of these assets.

A new UI has also been implemented to improve usability and allow for dynamic bridging between any sidechain, wallet and token. Meanwhile, a bridge SDK has been implemented to help developers create applications that leverage the bridge to access both networks.

Also, the latest version of the Blockscout Explorer is being developed. In addition to an improved UX/UI and other additional functions for verifying and executing smart contracts, the explorer would also provide a new dynamic display of dApps.

Earlier in January, XRP Ledger developers announced the release of rippled 2.0, which includes two major feature enhancements: XLS-38 Cross-Chain Bridge and XLS-40 Decentralized Identity.

The Cross-Chain Bridge would allow XRP and fungible tokens issued on the XRPL to move seamlessly between the XRPL Mainnet and XRPL sidechains, as well as between the XRPL Mainnet and the upcoming EVM sidechain.