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XRP holders can now create Metamask accounts, according to a report by Peersyst Technology published on Monday, they are currently working with Ripple developers to roll out an Ethereum Virtual Machine (EVM) compatible sidechain for the XRP Ledger (XRPL). A guide will be released today on how users can do this so they can test the sidechain.
Yesterday, the XRPL developers announced the launch of an EVM compatible sidechain for XRPL. The development will migrate Ethereum smart contracts to XRPL. Developers will be able to combine the reliability of Ethereum smart contracts with the speed of XRPL and low fees. Owners will soon be able to access a rich ecosystem of decentralized applications (DApps) and decentralized finance (DeFi) using XRP. Promising a throughput of around 1,000 transactions per second (TPS) with low fees, the EVM sidechain will be the catalyst for even more XRP adoption.
The developers decided to create a sidechain instead of making the XRPL EVM compatible, as this could compromise the scalability and security of XRPL. According to a previous report, the rollout will take place in three phases, with a mainnet launch scheduled for early 2023.
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