Ripple Labs has activated initial testing of an Ethereum Virtual Machine-compatible XRP sidechain.
Ripple and Peersyst Technology have announced, through their Official Twitter account, the activation of the first phase of testing of a sidechain (side chain or parallel chain) that will be compatible with the Ethereum Virtual Machine (EVM).
The launch of this parallel chain will allow all XRP users to natively interact with Ethereum's dApps and DeFi ecosystemFor example, Ripple users will be able to easily use Web3 wallets like MetaMask or decentralized applications like SushiSwap.
The new sidechain also features a native bridge that allows for XRP transfers and other assets between the EVM-compatible sidechain and the XRP Ledger Devnet. This means that developers will no longer have to choose between XRPL, they will also be able to take advantage of XRPL's fast, low-cost transactions and use smart contracts based on Solidity, which aims to attract new talent.
The sidechain uses the Tendermint consensus protocol, so it aims to reach 1000 transactions per second.
A phased deployment
According to Ripple officials, the first phase of the EVM-compatible sidechain is now available for developers to experiment on. XRPL Devnet.
During the next phase, which is scheduled for 2023, it is expected to achieve a block creation time similar to that of XRP Ledger. Finally, the third phase seeks convert the sidechain into a chain permissionless and create a bridge that is compatible with the XRP main chain.
XRP's battle against the SEC
On the other hand, Ripple's battle against the SEC continues. Despite the progress, Brad Garlinghouse, CEO of Ripple, has shown himself upset with the government agency and, in particular, with the course that the trial is taking.
The CEO hoped the legal battle would be over by first semester of 2022However, the process is likely to take even longer. In fact, Garlinghouse expressed his “outrage” at the lengthy legal process that Ripple has faced.
Garlinghouse believes that the SEC has no respect for the companies and people it is harming with its approach and has forgotten that the government should work for the good of the people.
Regarding the trial, Ripple's CEO believes that, after the motion for summary judgment, the judge should tmake a decision in less than nine months. In this regard, he also believes that a trial is unlikely to be necessary, since, for Garlinghouse, there is no real dispute over the facts, but rather over how the law is interpreted.
This trial could mark a milestone in cryptocurrency regulation and legislation. Moreover, according to many industry experts, if Ripple emerges victorious in its legal battle against the SEC, XRP price could rise.
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