With the introduction of a new bridge version, Peersyst and Ripple, the developers of the XRP Ledger EVM sidechain, have achieved an important milestone. This milestone’s introduction of a scalable interface intended to support future XRP Ledger interoperability is one of its most notable aspects.
By improving interoperability and being tailored for many networks, wallets (for each network), and tokens (for each pair of networks), the new bridge version would significantly benefit the XRP Ledger.
https://x.com/Peersyst/status/1773377914903375958?s=20
Additionally, the upgrade will enable the inclusion of all networks supporting XRPL bridges on the EVM site, along with a list of various wallets for each of these networks. Additionally, it would let users to create dynamic bridges for any ERC20/IOU token, enabling permissionless cross-chain applications with any kind of asset.
With this significant accomplishment, XRP Ledger will be able to further establish its position as the top blockchain platform for international money transfers and asset transfers by gaining more liquidity and usefulness.
The original development of the EVM sidechain, which Peersyst and Ripple collaborated to establish and link to the main XRPL, was split into three stages.
Peersyst declared in October 2022 that the XRPL devnet will host the launch of the first phase of the XRPL EVM sidechain.
The project’s second phase includes a specially designed permissionless EVM sidechain and bridge that links to the XRPL devnet, enabling more participation and controlled scalability testing. Phase three, which will feature a permissionless EVM sidechain and bridge on the XRPL mainnet, is the ultimate objective.
Peersyst gave an update on the XRP Ledger EVM sidechain, as was reported in January. It highlighted the successful completion of audits and the delivery of features and upgrades, and it also indicated that the sidechain’s debut was drawing near.
