Cross-border payments company Ripple announced that it will add smart contracts to the XRP Ledger (XRPL) developer ecosystem.
Ripple announced that the move would open various use cases for users, builders and entrepreneurs. It aims to attract developers to use XRPL’s expanded capabilities. According to Ripple, the smart contracts feature is set to go live “in the coming months” in the XRPL Ethereum Virtual Machine (EVM) sidechain.
Source: Ripple
In addition, Ripple said that smart contracts would also be available on the XRPL mainnet. However, the cross-border solutions firm said it’s still in its research phase and did not provide a definite time frame for deployment.
Collaborating with DeFi developers
Smart contracts are self-executing contracts stored on the blockchain. They automatically progress when specific conditions are met. Smart contracts are programs that handle transactions and agreements without the need for intermediaries.
Smart contracts have various use cases and potential applications, ranging from decentralized finance (DeFi) to supply chains. It’s being used to develop decentralized applications (DApps) on popular blockchain platforms like Ethereum, BNB Chain, Avalanche and Solana.
Ripple said they are “eager” to collaborate with DeFi developers and want community members to provide input on design specifics. The organization invited programmers familiar with EVM languages to explore possibilities on its sidechain.
Ripple also said the sidechain was created for developers using Ethereum-based smart contracts. This gives a familiar environment for deploying DApps, allowing them to use Solidity, a programming language used to build smart contracts on Ethereum.
Related: Japanese Bitcoin investor Metaplanet works with Ripple’s partner SBI
Bringing EVM compatibility to XRP
According to Ripple, smart contracts will enter the XRPL ecosystem through the sidechain they developed with the blockchain firm Peersyst. The company believes that the new development would help the blockchain appeal to more developers. Ripple wrote:
“This sidechain will bring Ethereum Virtual Machine (EVM) compatibility to the XRP community, allowing developers to employ familiar tools and programming languages, thereby broadening the XRP Ledger’s appeal to a global developer community.”
The company also added that the momentum for increasing the programmability of XRPL will further accelerate in 2025 as the organization continues to progress with its goal of adding smart contracts to the mainnet.
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