The blockchain software company Perrsyst has been developing an Ethereum-compatible sidechain in cooperation with Ripple for quite some time now. In October last year, both companies released the first phase of an Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger (XRPL) on the XRPL devnet.
The milestone allowed developers to access the XRPL’s features and deploy Solidity-based smart contracts on the XRPL. It also introduces a bridge between an EVM-compatible chain and the XRPL devnet. The XRP-based EVM-compatible sidechain was designed specifically for the Tendermint protocol and was capable of processing 1,000 transactions per second (TPS).
Ripple And Peersyst Enter Phase 2
As of yesterday, the EVM sidechain project is entering its second phase and is now available in a new version of the devnet (v2). This new version features a decentralised bridge design using the XLS-38d specification and supports XRP, IOU and ERC-20 token transfers in both directions between the XRP le
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