Originally published on: September 03, 2024
Ripple, a leader in cross-border payments, has exciting news for its users and developers – the addition of smart contracts to the XRP Ledger (XRPL) ecosystem. This move is expected to revolutionize the capabilities of XRPL and open up a world of possibilities for builders and entrepreneurs alike.
According to Ripple, the smart contracts feature is slated to debut “in the coming months” on the XRPL Ethereum Virtual Machine (EVM) sidechain. This enhancement will provide a platform for developers to leverage XRPL’s expanded capabilities and explore new use cases.
Smart contracts are self-executing contracts that operate on the blockchain, automatically executing transactions when certain conditions are met. These contracts eliminate the need for intermediaries, streamlining agreements and transactions.
With the integration of smart contracts, XRPL is poised to join the ranks of popular blockchain platforms like Ethereum, BNB Chain, Avalanche, and Solana in hosting decentralized applications (DApps). Ripple is eager to collaborate with DeFi developers and welcomes input from community members on the design specifics of this new feature.
To support developers familiar with EVM languages, Ripple has created a sidechain specifically for Ethereum-based smart contracts. This sidechain allows developers to utilize Solidity, the programming language commonly used for building smart contracts on Ethereum, in a familiar environment.
In collaboration with blockchain firm Peersyst, Ripple is paving the way for increased programmability on the XRPL. This strategic move is expected to attract more developers to the platform, further solidifying its position as a frontrunner in the blockchain space.
Looking ahead, Ripple is committed to advancing its goal of integrating smart contracts on the mainnet, with plans for significant developments in 2025 aimed at accelerating the momentum of this groundbreaking innovation.
For more insights into the world of blockchain and crypto, check out our magazine feature on real AI use cases in crypto, focusing on smart contract audits and cybersecurity.
