XRP Ledger’s EVM Sidechain Sees Early Smart Contract Growth and Rising Institutional Interest

  • The XRP Ledger’s new EVM-compatible sidechain has rapidly gained traction, recording 1,400 smart contract deployments within its first week of mainnet operation.

  • This innovative sidechain bridges Ethereum dApps with XRPL’s high-speed, low-cost infrastructure, enhancing interoperability and developer flexibility.

  • According to COINOTAG, validator participation and integration with cross-chain protocols underscore increasing institutional confidence in XRPL’s expanding DeFi ecosystem.

XRP Ledger’s EVM sidechain launches with 1,400 smart contracts deployed in a week, highlighting XRPL’s growing role in scalable, interoperable blockchain development.

Surge in Developer Adoption Highlights XRPL’s Smart Contract Potential

The launch of the XRP Ledger’s EVM-compatible sidechain on June 30 has catalyzed significant developer engagement, with nearly 1,400 smart contracts deployed within just seven days. This rapid adoption reflects the strong demand for a blockchain platform that combines Ethereum’s Solidity compatibility with XRPL’s hallmark features of low transaction fees and fast confirmation times. Developers benefit from the ability to seamlessly port existing Ethereum dApps using familiar tools like MetaMask and Hardhat, while leveraging XRPL’s 3.4-second block times and capacity for up to 1,000 transactions per second.

Cross-Chain Integration Expands XRPL’s Ecosystem

The sidechain’s compatibility with Ethereum’s Virtual Machine not only facilitates easy migration of dApps but also enables the creation of cross-chain applications that harness the strengths of both ecosystems. This interoperability paves the way for innovative use cases in tokenization, decentralized lending, and on-chain payments. The recent upgrade to Ripple protocol version 2.5.0 further enhances the network’s capabilities, positioning XRPL as a versatile platform for next-generation decentralized finance solutions.

Validator Network Growth and Institutional Interest Signal XRPL’s Maturation

At launch, the EVM sidechain was supported by a robust network of 25 independent validators, indicating strong institutional backing. This validator participation is a critical factor in ensuring network security and decentralization. Moreover, XRPL’s integration with multi-chain messaging protocols such as Wormhole and collaboration with Axelar Network—processing over $100 million in daily cross-chain transactions—demonstrate a strategic focus on expanding interoperability and DeFi functionality across blockchain ecosystems.

Strategic Positioning for Web3 and DeFi Expansion

Ripple’s introduction of the EVM sidechain marks a deliberate move to broaden XRPL’s utility beyond traditional payment solutions. By enabling smart contract execution and fostering cross-chain connectivity, XRPL is evolving into a comprehensive blockchain infrastructure tailored for Web3 applications. This development aligns with growing market demand for scalable, interoperable platforms capable of supporting complex decentralized applications and institutional-grade DeFi services.

Conclusion

The XRP Ledger’s EVM-compatible sidechain launch represents a pivotal advancement in blockchain interoperability and developer engagement. With rapid smart contract deployment, strong validator support, and strategic cross-chain integrations, XRPL is well-positioned to become a key player in the evolving decentralized finance landscape. Stakeholders should monitor ongoing developments as XRPL continues to enhance its infrastructure and expand its ecosystem capabilities.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

SEC Eyes New Framework for Rapid Bitcoin ETF Approvals, Draft Expected This Month

The U.S. Securities and Exchange Commission (SEC) is reportedly...

SOL Futures Trading Volume Surges Past $4 Billion on CME Group as of July 9

On July 9, Solana (SOL) futures trading on the...

SEC Advances Universal Listing Standards, Paving the Way for Altcoin ETFs

The U.S. Securities and Exchange Commission (SEC) is intensifying...

OlaXBT Secures $3.38M Seed Funding to Revolutionize BNB Smart Chain Crypto Trading with AI Technology

On July 9, OlaXBT, an innovative AI-powered crypto trading...

a16z Crypto Transfers Final 400,000 COMP Tokens Worth $16.48M to Coinbase Prime

On July 9, a16z crypto, a prominent venture capital...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img