The Ripple team announced the launch of a testnet EVM-compatible sidechain on the XRP Ledger, boasting a throughput of 1000 TPS.
? #DYK XRPL Thread: EVM Sidechain
The Ethereum Virtual Machine (EVM) compatible XRPL sidechain is available on testnet, and brings all kinds of #web3 applications to the #blockchain community.
Check out the intro. #BuiltOnXRPL (1/6)https://t.co/dUfpEoqjWn
— RippleX (@RippleXDev) March 13, 2023
Users gained the ability to connect wallets to deploy smart contracts written in Solidity and interact with them. The sidechain is built on the Tendermint protocol and uses Ethermint for compatibility with the EVM.
Block generation time is 5.4 seconds. Finalization occurs after it is included in the blockchain and confirmed.
As of writing, сеть сформировала 2 487 215 blocks and has carried out 16 951 transactions.
Earlier, the ability to interact with the sidechain was provided in devnet. In October 2022, the team promised to launch the mainnet in the second quarter of 2023.
Earlier, Ripple CEO Brad Garlinghouse stated the company’s financial stability in the wake of the collapse of Silicon Valley Bank.