The post Ripple Enhances XRP Ledger with Upcoming Smart Contracts and EVM Sidechain Integration appeared on BitcoinEthereumNews.com.

Ripple has unveiled plans to enhance the programmability of its XRP Ledger through the introduction of smart contracts. The initiative marks a significant step forward in the evolution of blockchain technology, as Ripple aims to fortify its position in the decentralized finance (DeFi) landscape. Ripple CEO Brad Garlinghouse emphasized that these developments signify the strengthening of crypto infrastructure tailored for real-world applications. This article explores Ripple’s ambitious plans to integrate smart contracts into the XRP Ledger, a move expected to revolutionize decentralized application development. Ripple’s Strategic Move to Implement Smart Contracts Ripple is actively working on integrating smart contract capabilities into its XRP Ledger, a move anticipated to take place as soon as next year. Currently, the functionality is in the research phase, but it promises to significantly enhance the versatility of the ledger. The introduction of XRPL Hooks will form the backbone for deploying these smart contracts on the mainnet. Expanding Capabilities with XRPL EVM Sidechain The company is also positioning itself to introduce an Ethereum Virtual Machine (EVM) sidechain, set to enable developers to create decentralized applications (dApps) that can leverage both the benefits of XRPL and Ethereum’s robust environment. This innovative sidechain, first announced by the RippleX team in June, aims to foster a permissionless ecosystem that encourages easy learning and customization without compromising performance or incurring excessive infrastructure costs. The Implications of Smart Contracts on the Blockchain Ecosystem The integration of smart contracts is poised to have substantial implications for the blockchain ecosystem as a whole, allowing developers to deploy complex functionalities seamlessly. This advancement comes at a crucial time as the cryptocurrency space aims to address the increasing demand for transparency and efficiency. As smart contracts eliminate the need for intermediaries, they can streamline processes in various sectors, including finance, supply chain, and gaming. Ripple’s…

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Filed under: News - @ September 3, 2024 6:10 am