Ripple to Introduce Smart Contracts on XRP Ledger

2 min read | September 03, 2024 09:41 AM EDT | By Team Kalkine Media

Google News:

Ripple to Introduce Smart Contracts on XRP Ledger — Image source: Shutterstock

Recent News

Best TSX Dividend Stocks Themes for Investors Tracking the 2026 Market...

Dividend Stocks to Watch as TSX Leadership Narrows in 2026

TSX Consumer Stocks Watchlist: Names, Risks, and Signals to Follow Now

Best TSX Consumer Stocks Themes for Investors Tracking the 2026 Market...

Make Kalkine Media
My Trusted Source

Ripple has announced plans to introduce smart contracts to the (XRP) Ledger (XRPL) ecosystem, marking a significant expansion of its developer capabilities. This initiative aims to broaden the range of use cases for the XRPL platform and attract developers, users, and entrepreneurs.

The integration of smart contracts is scheduled to roll out in the coming months, starting with the XRPL Ethereum Virtual Machine (EVM) sidechain. The smart contracts will also be made available on the XRPL mainnet, although this aspect remains under research, and no specific timeline has been provided for its deployment.

Smart contracts are self-executing agreements stored on the blockchain, which automatically enforce and execute the terms of a contract when predefined conditions are met. These contracts facilitate transactions and agreements without the need for intermediaries, with applications spanning decentralized finance (DeFi) to supply chain management. They are widely used to develop decentralized applications (DApps) on established blockchain platforms such as Ethereum, BNB Chain, Avalanche, and Solana.

Ripple is actively seeking collaboration with DeFi developers and is encouraging community input on the design of the smart contract features. The company has invited programmers familiar with EVM languages to explore development opportunities on its new sidechain. This sidechain is designed to support Ethereum-based smart contracts, providing a familiar environment for developers using Solidity, the programming language prevalent in Ethereum.

The introduction of smart contracts via the sidechain, developed in partnership with blockchain firm Peersyst, is expected to enhance the XRPL's appeal to developers by expanding its functionality. Ripple anticipates that the integration of smart contracts will significantly accelerate the blockchain’s programmability, with further developments planned for 2025, including the potential addition of smart contracts to the XRPL mainnet.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.