Ripple Expands Ecosystem with Ethereum-Compatible Sidechain, Enabling Smart Contract Deployment

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Ripple Expands Ecosystem with Ethereum-Compatible Sidechain, Enabling Smart Contract Deployment

Paraphrased Text: Ripple is currently conducting tests on a sidechain that is compatible with the Ethereum Virtual Machine (EVM) and can be integrated with the XRP Ledger. This sidechain will enable developers to easily deploy smart contracts on the Ripple ecosystem, offering seamless integration with the Ethereum network. CoinDesk reports that Ripple and XRPL would greatly benefit from this development as applications and smart contracts deployed on Ethereum can be leveraged effortlessly. A live version of the sidechain is currently available on Ripple's devnet, allowing developers to test the software before it is released to a wider audience. Despite the current bearish market and concerns of a recession in the crypto industry, Ripple Labs, the creator of XRPL, has expanded its operations into Europe. The company has signed contracts with regulated payments provider Lemonway and Swedish money transfer provider Xbaht. Ripple's managing director for the U.K. and Europe, Sendi Young, expressed confidence in the company's growth and funding, even in a challenging market environment.