{"id":246332,"date":"2024-02-13T09:28:29","date_gmt":"2024-02-13T03:58:29","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=246332"},"modified":"2024-02-13T09:28:29","modified_gmt":"2024-02-13T03:58:29","slug":"does-ethereums-sidechain-threaten-xrp-ledger-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/does-ethereums-sidechain-threaten-xrp-ledger-crypto-news\/","title":{"rendered":"Does Ethereum\u2019s sidechain \u2018threaten\u2019 XRP Ledger? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li><em>XRPL\u2019s department head mentioned that the EVM has not achieved much.<\/em><\/li>\n<li><em>On-chain data revealed the ledger was busy and users were active.<\/em><\/li>\n<\/ul>\n<p>XRP Ledger\u2019s (XRPL) head of compliance Thomas Silkj\u00e6r has said that the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a> Virtual Machine (EVM) was the biggest attack on the protocol.<\/p>\n<p>Silkj\u00e6r gave this opinion while responding to a post that XRP has not been put to use on the ledger. For the unfamiliar, XRP is the native token on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/category\/xrp-ripple-news\/\" data-wpel-link=\"internal\">Ripple<\/a>.<\/p>\n<p>XRPL, on the other hand, is the decentralized public blockchain that enables XRP transactions, smart contracts development, and cross-border payments.<\/p>\n<p>According to Silkj\u00e6r, XRP locked on the EVM sidechain was not different from XRP wrapped in another chain.<\/p>\n<h4>\u201cThe integration is not paying off\u201d<\/h4>\n<p>However, the head of analytics noted that the EVM sidechain does not help Ripple attract new developers. He also added that the sidechain does almost nothing for the XRPL in terms of utility.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In my personal opinion, the EVM sidechain is the single biggest direct attack on the XRPL protocol, pushed by those that should be defending and working for the protocol. <\/p>\n<p>It does nothing for rippled. It does nothing that makes the XRPL more attractive to new devs. It has little\u2026<\/p>\n<p>\u2014 Thomas Silkj\u00e6r (@Silkjaer) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Silkjaer\/status\/1756445371968991257?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">February 10, 2024<\/a><\/p>\n<\/blockquote>\n<p>Ripple, through its developer arm RippleX, began testing EVM-compatible side chain in October 2022. Since then, the side chain has been helping users operate on Ethereum by bridging through the XRPL.<\/p>\n<p>But in this case, XRP is the native token, and gas fees are collected in the token while validators also get rewards in XRP.<\/p>\n<p>However, Silkj\u00e6r <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Silkjaer\/status\/1756594989352567101\" data-wpel-link=\"external\">noted<\/a> that his view was a personal one and not necessarily shared by Ripple\u2019s development team. To back up his argument, he wrote,<\/p>\n<blockquote>\n<p>\u201cThe attack is not that you can bridge to an EVM chain, because you already can. It is the fact that it\u2019s being pushed with marketing that makes it sound like it\u2019s \u201cthe XRPL\u201d. The XRPL is being watered down by the entity that was supposed to protect it.\u201d<\/p>\n<\/blockquote>\n<h4>Surprises appear on another end<\/h4>\n<p>This development might come as a surprise to the crypto community at large. One reason for this could be linked to RippleX\u2019s statement in 2023.<\/p>\n<p>According to the team, the EVM was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/opensource.ripple.com\/docs\/evm-sidechain\/xrpl-evm-sidechain-faq\/\" data-wpel-link=\"external\">supposed<\/a> to make XRPL developer-friendly. The integration was also aimed at easing access to Decentralized Finance (DeFi) for XRP users.<\/p>\n<p>But with the public statement from one of its insiders, it seems, XRPL has not been able to achieve that yet. Following the discourse, AMBCrypto evaluated what has happening on the XRPL on-chain.<\/p>\n<p>According to our <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.santiment.net\/charts\/ps-YI7te__sCl\" data-wpel-link=\"external\">findings<\/a>, the total number of XRP issued on the ledger has been increasing since December.<\/p>\n<p>This increase suggests that transactions on the network have been increasing. Another metric we considered was the daily new amount of XRP trustlines created.<\/p>\n<p>At press time, the number had increased to 1526, indicating that the protocol was busy, and users were active.<\/p>\n<div id=\"attachment_369920\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/6403e5f8.rocketcdn.me\/wp-content\/uploads\/2024\/02\/XRP-Ledger-XRP-13.18.48-12-Feb-2024.png\" data-wpel-link=\"external\"><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-369920\" src=\"https:\/\/6403e5f8.rocketcdn.me\/wp-content\/uploads\/2024\/02\/XRP-Ledger-XRP-13.18.48-12-Feb-2024.png\" alt=\"on-chain data of XRP trustlines and assets created on the XRPL\" width=\"2560\" height=\"867\" \/><\/p>\n<p><\/a><\/p>\n<p id=\"caption-attachment-369920\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-xrp-to-usdt\" data-wpel-link=\"internal\">1,10,100 XRPs worth today<\/a>?<\/p>\n<hr \/>\n<p>As it stands, Silkj\u00e6r\u2019s opinion did not seem to align with what we discovered. But since ours was about users, it could be possible that the viewpoint referred to development activity.<\/p>\n<p>If that\u2019s the case, then Silkj\u00e6r might have a point. But what we can\u2019t conclude is if the EVM was the problem.<\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/polygon-beats-solana-on-this-crucial-front-what-now\/\" data-wpel-link=\"internal\">Polygon beats Solana on this crucial front \u2013 What now?<\/a> <\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>XRPL\u2019s department head mentioned that the EVM has not achieved much. On-chain data revealed the ledger was busy and users were active. XRP Ledger\u2019s (XRPL) head of compliance Thomas Silkj\u00e6r has said that the Ethereum [ETH] Virtual Machine (EVM) was the biggest attack on the protocol. Silkj\u00e6r gave this opinion while responding to a post [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":246333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-246332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=246332"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246332\/revisions"}],"predecessor-version":[{"id":246335,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246332\/revisions\/246335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/246333"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=246332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=246332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=246332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}