In a development that could have massive implications, Ripple has unveiled an update to its long-awaited XRP Ethereum sidechain. Indeed, a thread post to X (formerly Twitter) has shared the latest update to the EVM sidechain being developed by tech firm Peersyst and Ripple.
The update has seen Peersyst deliver a RippleX update that discusses some of the most recent progress. Subsequently, they have identified 2024 as bringing them ever closer to the launch of the EVM sidechain on the XRP Ledger. Additionally, the update revealed that the XChain Brdige Public amendment has already been published.
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Ripple Updates The Anticipated EVM Sidechain on XRP Ledger
For the last several months of 2023, anticipation over the potential for Ripple Labs in the coming year was at a new high. Indeed, many anticipated that the legal disputes would be nearing a conclusion. Subsequently, many expected such a development to be vitally important to its continued work.
Although the year has not had the start many had hoped, the tremendous work has not ceased. Subsequently, Ripple has just unveiled a crucial update to the long-awaited XRP Ethereum Sidechain. Specifically, it has come by way of blockchain technology firm Peersyst. They are operating as the key partner in developing the sidechain.
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The most important part of the update is the unveiling of the XChain BRidge public amendment. Specifically, they note it is open for voting, and is a crucial prerequisite for the launch of the sidechain. Additionally, they have stated that it currently maintains 7 out of the 28 votes needed from validators.
The update also revealed that the sidechain is “more advanced than ever.” With an audit completed by Bishop Fox, they announced a second one to arrive from a “recognized supplier,” that will receive publication soon.
The announcement unveiled key upgrades currently being deployed. Moreover, validators will have the opportunity to vote on the upgrade, which is set to incorporate Cosmos version 0.47 and Ethereum’s EIP3855.
Altogether, the cross-chain bridge would allow XRP and other fungible tokens to move between the XRPl Mainnet and XRPL Sidechains. Moreover, they will also be able to maneuver between the XRPL Mainnet and the developed EVM Sidechain.