BSCN’s Post

AXELAR ANNOUNCED AS EXCLUSIVE BRIDGE FOR RIPPLE’S UPCOMING EVM SIDECHAIN - Ripple, the company behind the $XRP token, has not only revealed the name of its upcoming sidechain as the 'XRPL EVM sidechain', but also shared that Axelar Network will serve as an exclusive bridge for the network. - Axelar will facilitate the bridged-creation of eXRP, which will function as the new sidechain’s own gas token. - Axelar will also allow for other assets minted on XRPL to be bridged to the new EVM network “as well as from more than 55 blockchains in the Axelar network”. “Axelar’s experience in cross-chain bridge technology is recognized throughout the industry, having managed integrations ranging from Uniswap to Microsoft. Partnering with Axelar leverages their proven expertise and related sidechain benefits while providing a secure and efficient bridge for users.” … reads an official blog post. - Interestingly, this means that Ripple is moving away from its XLS-38 bridge, which it described as “arduous” compared to the new solution. “The current process of transferring new tokens via XLS-38 is arduous. Using two different bridges… complicates the user journey. By consolidating to a single bridge, the process becomes simplified, making it more intuitive and user-friendly.” Image: Business Wire

  • logo

To view or add a comment, sign in

Explore topics