Ripple Readies XRP Ledger for Major Programmability Enhancements by 2025

News

  • Ripple’s XRP Ledger will integrate native smart contracts by early 2025, enhancing automatic contract execution.
  • XRPL EVM Sidechain will launch soon and will enable Ethereum compatibility, expanding developer tools on the XRP Ledger.
  • Ripple introduces Wrapped XRP (eXRP) as the gas token for the new XRPL EVM Sidechain, facilitating cross-chain transactions.

Ripple is actively enhancing the XRP Ledger’s programmability through key initiatives to reshape its landscape by early 2025. These developments aim to introduce native smart contract capabilities directly on the XRP Ledger Mainnet and an Ethereum Virtual Machine (EVM) compatible sidechain, broadening the platform’s appeal and functional richness.

Enhanced Programmability with Smart Contracts

Currently, in the research phase, the native smart contract functionality on the XRP Ledger Mainnet is designed to support the automatic execution of contracts without central oversight, fostering a more flexible and developer-friendly environment. This enhancement leverages existing ledger features like escrows, non-fungible tokens (NFTs), authorized trust lines, payment channels, and decentralized exchange with an automated market maker (DEX + AMM).

Integrating smart contracts is anticipated to significantly accelerate the development of decentralized finance (DeFi) applications, addressing specific needs without necessitating broad community adoption for niche applications. Ripple plans to release an XLS proposal for this functionality, seeking feedback and engagement from the wider developer community.

Introduction of the XRPL EVM Sidechain

In collaboration with Peersyst Technology, Ripple is also preparing to launch the XRPL EVM Sidechain. This sidechain promises EVM compatibility to the XRP Ledger, enabling developers familiar with Ethereum’s programming languages to seamlessly integrate and build on the XRPL platform. The sidechain is expected to go live on the devnet soon, with a full launch slated for early next year.

A notable feature of the XRPL EVM Sidechain is its use of the Axelar network as a bridge. It enhances interoperability by facilitating transactions between the sidechain, the XRP Ledger, and over 55 other blockchains. Ripple is introducing Wrapped XRP (eXRP) as a native asset and gas token on the sidechain, promoting secure and efficient cross-chain transactions. 

The company’s commitment to developer empowerment is evident in its focus on enhancing the XRP Ledger’s technological capabilities, catering to institutional DeFi users and individual developers. The XRP Ledger offers new functionalities for developers skilled in EVM-based smart contracts and newcomers to blockchain technology, laying a foundation for future development and application creation.

The post Ripple Readies XRP Ledger for Major Programmability Enhancements by 2025 appeared first on Crypto News Land.

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