The XRP community has been excited following the recent integration of the Ethereum Virtual Machine (EVM) sidechain into the XRP Ledger (XRPL) ecosystem. This collaboration between XRPL and blockchain firm Peersyst marks a significant advancement in blockchain technology.
In a recent interview with Peersyst CEO Ferran Prat Tio, key details about the XRPL EVM Validators’ reward system were revealed, shedding light on the pivotal role XRP will play in this groundbreaking development.
Addressing the community’s queries, Ripple CTO David Schwartz provided insights into the mechanism of EVM and assured the community about the security of their investments.
Notably, Prat confirmed in an interview with crypto enthusiast ‘Crypto Eri that XRPL EVM validators would be compensated in Ripple’s native token, XRP. This move signifies a strategic alignment of incentives within the XRPL ecosystem, promoting the use and value of XRP as a core element in the ongoing blockchain revolution.
EVM sidechain name unveiled: A part of the XRP ledger identity
As the community eagerly awaited details about the potential name of the EVM sidechain, Ferran Prat Tio emphasized that the team is not currently concerned about naming but suggested that recognition should be centered around acknowledging the sidechain as an integral part of the XRP Ledger.
This perspective aligns with a focus on the cohesive identity of the XRPL ecosystem, underscoring the integration’s seamless incorporation rather than a standalone entity with a distinct name.
Benefits of XRPL EVM sidechain: A boost for developers and decentralized finance (DeFi)
‘Flip The Chain,’ a prominent voice in the crypto community, shared valuable insights into the potential benefits of the XRPL EVM sidechain. According to ‘Flip The Chain,’ this integration allows new developers to launch projects more easily, streamlining the development process.
Additionally, the platform asserted that the XRPL EVM sidechain would significantly benefit decentralized finance (DeFi) initiatives, providing a conducive environment for the growth of innovative financial projects.
