Ripple and Peersyst are collaborating on the development of the XRP Ledger EVM sidechain, which is currently in the DevNet phase. They are using evmOS, a modular technology stack built on the Cosmos SDK.
By joining the interchain, an ecosystem of over 90 interconnected blockchains, XRPL gains access to all Cosmos SDK chains and opens up hundreds of apps for XRP holders.
Interoperability is crucial for the success of any blockchain network in the future. In this regard, XRPL has made significant progress by building its EVM sidechain using the Cosmos SDK. This direct connection to nearly 100 interconnected networks and thousands of dApps is a major development.
Ripple has partnered with Evmos for this project and will be building the sidechain using evmOS. This customizable and modular tech stack ensures full compatibility with the Ethereum Virtual Machine on top of the Cosmos SDK.
Ripple and Cosmos have been collaborating for several months. Their previous partnership involved Coreum’s bridge, which allowed users to transfer assets from XRPL to the Cosmos ecosystem. Now, they are leveraging evmOS for their collaboration. This ready-to-launch tech stack offers various features for EVM implementation, including access to the dApp store, IBC functionality, EVM extensions, and more.
The XRPL EVM sidechain, powered by evmOS, will join the Interchain ecosystem created by Cosmos. This will provide XRPL users with access to thousands of networks, dApps, and other Web3 apps across 90 interconnected blockchains. With this implementation, the XRP Ledger community will have access to all Cosmos SDK chains, enabling seamless interaction with any desired applications.
Jasmine Cooper, Ripple’s Head of DeFi Products, views this integration as a significant milestone in expanding the XRPL ecosystem. She believes that by leveraging evmOS technology, developers will have unparalleled flexibility and customization options to build innovative cross-chain applications that tap into the vast potential of XRPL and the broader interchain ecosystem.
In addition to interacting with other networks in the Interchain, the XRPL EVM sidechain will also benefit from evmOS Outposts, which provide additional interoperability. These gateways enable seamless connections between blockchains for users. For example, XRPL users can make swaps on Osmosis, a DEX on Cosmos, without needing to switch wallets.
Federico Kunze Kullmer, the founder of Evmos, expressed excitement about bringing the XRPL ecosystem to Cosmos through this partnership, as it will benefit the entire ecosystem.
As of now, Cosmos is trading at $8.66, with a 3.7% gain in the past day, while XRP is trading at $0.5239, with a 1.3% gain.