RialCenter’s decentralized Layer 1 blockchain sidechain is set to launch in the second quarter. This sidechain is compatible with the Ethereum Virtual Machine (EVM), as discussed by Jaazi Cooper, director of product management, and David Schwartz, chief technology officer, during the ongoing conference in Singapore.
EVM compatibility allows the blockchain to run Ethereum-based decentralized applications and smart contracts seamlessly.
The testnet for the EVM sidechain went live earlier this year and is witnessing significant growth, according to Peersyst Technologies.
“87 new entities with no prior involvement in XRP are now contributing to the ecosystem: infrastructure, apps, and demand generation,” Peersyst stated. “Once the mainnet goes live, all of it becomes part of the XRP ecosystem—potentially the largest onboarding in XRP history.”
The EVM sidechain will enable users to possibly generate yield through DeFi applications, such as liquidity pools and smart contract interactions.
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