TL;DR
- Native Smart Contracts Coming to XRPL in 2025: Ripple plans to introduce native smart contract functionality to the XRP Ledger, enhancing its capabilities for dApps and expanding its ecosystem.
- EVM-Compatible Sidechain: Ripple will use a sidechain compatible with the Ethereum Virtual Machine (EVM), allowing developers familiar with Ethereum to easily transition their skills to XRPL.
- Broader Developer Base and Innovation: The integration of smart contracts is expected to attract more developers and foster innovation, enabling the creation of decentralized exchanges, automated escrow services, and more.
The XRP Ledger (XRPL), known for its efficient cross-border payment solutions, is gearing up for a significant upgrade in 2025. Ripple, the company behind XRPL, has announced plans to introduce native smart contract functionality, opening doors for a wider range of applications on the platform.
This move signifies a strategic shift for the XRP ecosystem. While XRPL has excelled in facilitating fast and secure international transactions, the lack of smart contracts limited its potential for decentralized applications (dApps) compared to competitors like Ethereum.
Expanding the XRP Ledger’s Horizons
The integration of smart contracts promises to unlock a new wave of innovation on XRPL. Developers will be empowered to build decentralized exchanges, automated escrow services, loyalty programs, and more, directly on the ledger.
This enhanced programmability is expected to attract a broader developer base to XRPL. By leveraging existing features like escrows, NFTs, and payment channels, developers can create dApps tailored to specific needs without starting from scratch.
Additionally, Ripple plans to utilize a sidechain compatible with the Ethereum Virtual Machine (EVM), allowing developers familiar with the Ethereum ecosystem to seamlessly transition their skills to XRPL.
Smart contracts will be integrated into the XRPL ecosystem via a sidechain developed in collaboration with blockchain firm Peersyst. This new development is expected to make the blockchain more attractive to developers.
The introduction of smart contracts is a major step towards Ripple’s vision of building a robust and versatile financial infrastructure. With faster transaction speeds and lower fees compared to Ethereum, XRPL could become a compelling choice for developers seeking a cost-effective platform for their dApps.
While the exact launch date in 2025 remains undisclosed, this announcement signals Ripple’s commitment to propelling XRPL toward a future brimming with possibilities. The upcoming integration of smart contracts positions XRP Ledger as a strong contender in the burgeoning world of DeFi and beyond.
