payment company Ripple blockchain network powered by XRP Ledger announced its new sidechain.
Accordingly, XRP Ledger announced the official name of its new sidechain and “XRPL EVM sidechain” said that.
XRP Ledger is on this sidechain Axelar partnered with. At this point, XRP Ledger stated that this sidechain will start by serving as Axelar’s private bridge protocol.
Axelar, users XRPIt will allow the exchange to convert XRP (eXRP) into wrapped XRP (eXRP), which will also be used as the native token for gas fees on the sidechain.
While Ripple said that using Axelar will simplify the user experience and increase security, it also praised Axelar’s past performance and integrations with major projects such as Uniswap and Microsoft.
“The XRPL EVM sidechain will be launched with Axelar as the private bridge to source the sidechain’s natural gas token (eXRP) from XRPL.
Axelar can also be used to bridge the XRPL mainnet as well as other fungible tokens from over 55 blockchains on the Axelar network.”
As you may remember Ripple In recent months, it has been pegged to the dollar, which will be launched on XRP Ledger and Ethereum later this year. stablecoin He announced that he would release it.
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