Ripple Announces XRP Ethereum Sidechain Update: A Long-Awaited Advance

• Ripple Unveils Significant Update to XRP Ethereum Sidechain
• XChain Bridge Public Amendment Published
• Recent Developments on the Anticipated EVM Sidechain on XRP Ledger
• Partnership with Peersyst
• XChain Bridge Public Amendment and Voting System
• Progress on the Sidechain
• Implications for XRP and Fungible Tokens

Ripple Unveils Significant Update to XRP Ethereum Sidechain

Ripple, the renowned technology firm, has launched an update to its highly anticipated XRP$0.620 -1.68% Ethereum$2,315 -2.42% sidechain. This news was disseminated through a thread post on X (formerly known as Twitter), detailing the evolution of the EVM sidechain developed by Peersyst and Ripple. This update showcases Peersyst's latest RippleX update and provides insights into their recent advancements. The launch of the EVM sidechain on the XRP Ledger seems closer than ever, with 2024 identified as a crucial milestone year.

XChain Bridge Public Amendment Published

The update divulged that the XChain Bridge Public amendment has been published already, marking a significant step forward. This announcement has stirred up a considerable amount of excitement and anticipation within the crypto community.

Recent Developments on the Anticipated EVM Sidechain on XRP Ledger

Ripple Labs had been the object of heightened expectation throughout the final months of 2023, with the possible resolution of ongoing legal issues. The successful resolution of these matters was expected to have a profound impact on Ripple's continued operations. Despite initial hurdles, Ripple has remained undeterred and has recently released an important update to the XRP Ethereum Sidechain.

Partnership with Peersyst

The update has been facilitated by the blockchain technology firm, Peersyst. This organization is a key collaborator in the development of the sidechain.

XChain Bridge Public Amendment and Voting System

A crucial component of this update is the publication of the XChain Bridge public amendment. The amendment is currently open for voting and its approval is a vital prerequisite for the sidechain's launch. Current reports indicate that it has secured 7 out of the necessary 28 votes from validators.

Progress on the Sidechain

The sidechain is reported to be more refined than ever before. An audit by Bishop Fox has been successfully completed and a second one is soon to be released by a recognized supplier. Upcoming upgrades have also been revealed in the announcement. Validators will have the chance to vote on these upgrades, which are expected to integrate Cosmos version 0.47 and Ethereum's EIP3855.

Implications for XRP and Fungible Tokens

With the completion of this cross-chain bridge, XRP and other fungible tokens will have the flexibility to move between the XRPL Mainnet and XRPL Sidechains. In addition, they will also be able to navigate between the XRPL Mainnet and the developed EVM Sidechain, making this a considerable achievement in the crypto world.

Edited by Jonathan Stoker