Revolutionizing Ripple: XRP Amendment Activates EVM Sidechain – Unveiling the Details

• Ripple partner, Peersyst, has announced that new amendments to the XRPL EVMSidechain have been activated following community approval.
• The amendments will enable new transaction fees in XRP and the activation of Cosmos IBC.
• The Ripple EVM sidechain, a proof of concept extension to the XRPL protocol, is designed to bring full programmability to the XRPL ecosystem.

Peersyst, a Ripple partner, has implemented new amendments to the XRPL EVMSidechain, introducing new transaction fees in XRP and activating Cosmos IBC. This development is expected to enhance the XRPL ecosystem’s programmability.

New Amendments to XRPL EVMSidechain

On May 1, Peersyst launched two key proposals, 33 and 34, to upgrade the network, adjust XRP fees, and enable IBC and Cosmos tokens. Amendment 33 aims to update the network’s gas price to make the configuration more similar to production environments, a critical step for network security and scalability. Transaction fees are expected to be minimal, comparable to Binance Smart Chain or Polygon.

Activation of IBC Channels

Amendment 34 will activate IBC channels, connecting the network to the Cosmos ecosystem and enabling cross-chain applications. The community approved the amendments, which are now in effect following a seven-day voting period that ended on Monday, May 6.

Ripple EVM Sidechain

The Ripple EVM sidechain, a proof of concept extension to the XRPL protocol, is designed to bring full programmability to the XRPL ecosystem. It allows developers to deploy EVM applications on the XRPL with few changes, eliminating the need for network votes for each application. The EVM sidechain uses a proof of authority (PoA) consensus method and is directly connected to the XRP Ledger via the XRPL bridge.

Conclusion

With the new update, the XRPL EVM sidechain might become more appealing to developers who wish to test it for their applications as it is not yet available on the production Mainnet. This development marks a significant step towards enhancing the programmability of the XRPL ecosystem.