Ripple has announced its plans to significantly boost the programmability of the XRP Ledger by introducing smart contracts, a development anticipated to roll out as early as next year. While this functionality is currently in the research phase, it represents a significant step forward for the XRP Ledger. Smart contracts, on the other hand, will be based on XRPL Hooks, which is the foundation for the implementation of such capabilities on the mainnet.
Ripple emphasized the importance of making the new smart contract functionality permissionless, easy to understand, and highly parameterized. Also, the company aims to achieve high performance and have a low impact on overall infrastructure costs. This strategic initiative aims to enhance the capabilities of the XRP Ledger further and make it even more appealing to developers than before.
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XRPL EVM Sidechain to Open New Possibilities
Besides smart contracts, Ripple plans to roll out the XRPL EVM sidechain soon. Announced by the RippleX team in June, this sidechain will allow developers to build new dApps that are best suited for the native XRP ledger while also having access to the existing functionality of the EVM. Integrating EVM compatibility into the XRP Ledger will enable developers to transfer existing Ethereum-based apps into the Ripple ecosystem, thereby expanding.
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Ripple CEO Brad Garlinghouse responded to the statement, noting the gradual growth of a stable ecosystem for the “real economy” as a sign of the potential development of sound cryptocurrency infrastructure. He pointed out that these are important as the sector shifts towards increased use of blockchain technology across various industries.
Also, this year, in July, the XRP Ledger implemented new features, including a new AMM functionality to enhance the system. These continuous enhancements ensure that Ripple remains focused on upgrading the XRP Ledger into an all-inclusive platform for developers and other stakeholders.
Conclusion
Ripple’s announcement marks a significant advancement in the capabilities of the XRP Ledger, with smart contracts and the EVM sidechain set to expand its functionality and appeal. As these features come online, they remain expected to attract more developers and drive greater adoption of the XRP Ledger in the blockchain ecosystem.
Also Read: Ripple’s CTO David Schwartz Refutes Claims of Suppressing XRP Price
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.