Game changer for crypto: Ripple will add Ethereum-compatible smart contracts to the XRP Ledger

Ripple, the company behind the cryptocurrency XRP, announced on Tuesday (09/03) plans to integrate Ethereum-compatible smart contracts into the XRP Ledger (XRPL). The company aims to expand the blockchain’s capabilities and attract a broader base of developers.

This breakthrough is expected to revolutionize the XRPL ecosystem, introducing new functionalities and making it more appealing to developers.

Ripple smart contracts and developer collaboration

The press release reveals that the integration of Ripple’s smart contracts into the XRPL ecosystem marks a strategic shift for the company. As a result, it enables Ripple to compete more directly with established platforms such as Ethereum, BNB Chain, Avalanche, and Solana.

This strategic improvement aims to create new opportunities for users, creators, and entrepreneurs, ranging from decentralized finance (DeFi) applications to supply chain management solutions.

Ripple’s approach to implementing smart contracts is “two-pronged.” Initially, the feature will be deployed on the Ethereum Virtual Machine (EVM) sidechain of the XRPL. The latter was developed in collaboration with the blockchain company Peersyst.

This sidechain will provide a familiar environment for developers accustomed to Ethereum-based smart contracts, allowing them to use the Solidity programming language.

Moreover, the second phase of the implementation will introduce smart contracts on the XRPL mainnet. However, this phase is still in the research stage, and Ripple has not provided a definitive timeline for its rollout.

Finally, the company indicated that the push to enhance the programmability of the XRPL will gain momentum in 2025, suggesting a long-term commitment to evolving the platform’s capabilities.

Strategic partnerships and academic initiatives

In addition to the integration of smart contracts, Ripple is also expanding its influence through strategic partnerships and academic initiatives. One of these developments is the recent partnership with Futureverse, a company known for its work in artificial intelligence (AI) and the metaverse.

This collaboration provides KYC-verified access to decentralized finance through Futureverse’s Ottó blockchain, utilizing Ripple Custody for asset management.

In the academic sphere, Ripple’s University Blockchain Research Initiative (UBRI) has expanded its reach by adding Korea’s Yonsei University as its 58th global partner. This collaboration aims to advance research in various fields, including AI, finance, and information systems.

Additionally, the partnership will facilitate hackathons and fund the launch of an XRPL validator at the university, further expanding Ripple’s academic and research presence.

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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