Ripple uses Axelar as a side chain bridge to launch XRPL EVM Sidechain and stable currency RLUSD

The veteran public chain Ripple announced the upcoming launch of its side chain XRPLEVMSidechain during the XRPL Summit held in Amsterdam yesterday (12th), aiming to provide developers with a decentralized Unlocking new opportunities in finance (DeFi) and real world assets (RWA): We believe the future of blockchain is multi-chain and are excited to bring this urgent update: Ethereum Virtual Machine (EVM) compatible Bring sex to XRPLedger. We are also happy to announce the name of this new product: XRPLEVMSidechain. This sidechain will open new opportunities for XRPL developers in the fields of decentralized finance (DeFi) and real-world assets (RWA), driving innovation and expanding the network’s utility and application scope.

Using Axelar as the only bridge for the side chain

According to Ripple’s announcement, integrating the XRPL EVM side chain into the XRPL main network involves the use of bridging technology. The bridge will ensure the connection between XRPL and the EVM side chain. Seamless transfer of assets, thereby improving interoperability and transaction efficiency.

Based on this, Ripple finally selected the cross-chain interoperability protocol Axelar as the only bridge for its side chain, and the packaged XRP (eXRP) will be used as the native asset and gas token.

In addition, the Ripple engineering team will also cooperate with blockchain technology company Peersyst to expand XRPL’s interoperability. Ferran Prat, CEO of Peersyst, said: Axelar is a battle-tested, production-ready and fully compatible bridge that can introduce eXRP as a native currency to the XRPL EVM side chain. Peersyst is currently working on migrating the main bridge to Axelar to help develop the network.

Continue to pay attention to the adoption of XLS-38

Finally, Ripple also stated that they will continue to pay attention to the previously proposed XLS-38 improvement plan in the next 12 to 15 months. Community adoption and interest in it to ensure a foundation for developers wishing to create custom sidechains: XLS-38 represents a valuable tool for creating custom sidechains, but whether it will eventually be incorporated into the mainnet remains to be seen Depends on real world validation and developer interest.

Ripple launches stablecoin $RLUSD

It is also worth noting that Ripple CEO Brad Garlinghouse also announced the launch of Ripple’s new stablecoin RLUSD at the XRPL Summit, calling it a real U.S. dollar : I like to call it realUSD.

It is understood that RLUSD is a stablecoin that is 100% backed by U.S. dollar deposits, short-term U.S. Treasury bonds and other cash equivalents. The stablecoin will first be deployed on the XRP Ledger and Ethereum blockchains and be Designed to be based on Ethereum’s ERC-20 token standard.

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