Ripple President Highlights XRPL EVM Sidechain in Q2 Report
The post Ripple President Highlights XRPL EVM Sidechain in Q2 Report appeared on BitcoinEthereumNews.com.
Ripple partners with Axelar to enhance XRPL EVM sidechain interoperability. Archax plans to tokenize millions in real-world assets on the XRPL. Monica Long, Ripple’s President, recently offered her thoughts on the latest Ripple upgrades, specifically the XRPL EVM sidechain. These updates cover development with the XRPL EVM sidechain and Axelar for interoperability, as well as Archax’s planned contribution of hundreds of millions of dollars in tokenized real-world assets (RWAs) to the XRPL. Preparations for future Oracle and Multi-Purpose Token (MPT) releases have prompted widespread curiosity about the changes expected in the third and fourth quarters of the year. Updates in Q2 – namely progress w/ the XRPL EVM sidechain & Axelar for interoperability, Archax expected to bring hundreds of millions of $ of tokenized RWA onto the XRPL and prep for future Oracles and MPT releases – are making me very excited about what’s coming in Q3 + Q4. https://t.co/GO7jjdBSsf — Monica Long (@MonicaLongSF) August 2, 2024 Ripple: Strategic Cooperation with Axelar and the Role of Oracles in XRPL In the previous quarter, Ripple stated that the XRPL EVM sidechain would use Axelar as the exclusive bridge to source the sidechain’s native gas token, eXRP, from the XRPL. This strategic cooperation with Axelar leverages their established experience and the benefits of linked sidechains, while also providing users with a safe and efficient bridge. Furthermore, Axelar may connect other fungible tokens to and from the XRPL mainnet and over 55 blockchains within the Axelar network, improving the overall interoperability and functionality of the XRPL ecosystem. Oracles on the XRPL will provide institutions with consistent and accurate data feeds, improving the functionality of smart contracts and decentralized financial (DeFi) applications. These Oracles will support a wide range of use cases, including price feeds and event data, making them vital tools for institutional…
Filed under: News - @ August 4, 2024 8:02 am