- Peersyst launched the XRP Ledger’s EVM-compatible sidechain testnet in collaboration with RippleX, Axelar Network, and Common Prefix.
- The sidechain uses XRP as its native token while enabling Ethereum smart contracts on the XRPL infrastructure.
- Developers can now explore DeFi applications on XRPL with Solidity support, expanding its use cases across multiple blockchain environments.
Peersyst Technology has officially launched the testnet version of an Ethereum Virtual Machine-compatible sidechain built for the XRP Ledger. This development marks the next step in expanding smart contract capabilities within the XRP ecosystem.
The initiative is the result of joint efforts involving RippleX, the development team behind Ripple, Web3 integration platform Axelar Network, and blockchain research firm Common Prefix. The sidechain enables Ethereum-based applications to operate within the XRP Ledger while using XRP as the native asset.
Devnet Foundation Set in 2022, Testnet Now Operational
The development of this sidechain began with the release of a devnet in October 2022. A second version was introduced in June 2023. The current testnet builds on these earlier versions, allowing broader testing and community engagement before a full mainnet launch.
Following the testnet release, Peersyst Technology stated that new validators and ecosystem partners will be introduced in the coming period. These additions are expected to strengthen the infrastructure and broaden the reach of the sidechain.
Ripple CTO Continues to Back Sidechain Vision
The Ripple Chief Technology Officer, David Schwartz demonstrated backing for the sidechain project in the past. Through his statement, he highlighted the need to build an efficient competitive smart contract ecosystem based on XRP, which would offer decentralized applications as an alternative platform.
This sidechain merges Ethereum-like smart contracts with XRP Ledger high-speed transactions and nominal costs in order to pursue new decentralized finance options. XRPL allows Solidity developers, along with others, to work with its systems.
The testing network demonstrates continuous development for XRP Ledger functionality extension alongside blockchain interoperability advancement. Peersyst Technology and its collaborators generate plans to present regular updates while integrating new features through phases, which support the increasing adoption of the platform across both user and developer groups.
