Ripple Expands, Brings Ethereum-Compatible Smart Contracts to XRPL

Ripple Expands, Brings Ethereum-Compatible Smart Contracts to XRPL

Ripple (XRP) is expanding the capabilities of the XRP Ledger (XRPL) by introducing Ethereum-compatible smart contracts through a new sidechain network. CoinDesk has revealed this strategic move to attract the global developer community. The integration of familiar tools and programming languages through this sidechain aims to increase the accessibility of XRPL. At the heart of this expansion is the Axelar Network, responsible for facilitating cross-chain token transfers. Wrapped XRP (eXRP) will serve as the native token on the sidechain. This move enables developers to create, deploy, and execute smart contracts on XRPL using tools and languages commonly used in the Ethereum ecosystem. By offering Ethereum compatibility, Ripple aims to bridge the gap between the two blockchain platforms, making it easier for developers to leverage the advantages of both worlds. The integration of smart contracts opens up a wide range of possibilities for XRPL, including decentralized applications (dApps), automated processes, and more complex financial instruments. This expansion aligns with Ripple's strategy to enhance the utility and versatility of XRPL, making it more attractive to a broader user base. With the introduction of Ethereum-compatible smart contracts, Ripple is poised to attract a wider pool of developers and foster innovation on the XRP Ledger.