Crypto news: Ripple and Peersyst leverage evmOS to facilitate interoperability between EVM and Cosmos. The use of evmOS by Ripple and Peersyst aims to further empower the XRP Ledger (XRPL) EVM sidechain, currently under development in the Devnet.

Let’s see all the details below. 

Ripple enhances the XRPL EVM sidechain: evolution for the Cosmos crypto

As anticipated, Ripple and Peersyst have adopted evmOS to enable interoperability between EVM and Cosmos.

With the use of evmOS, Ripple and Peersyst will focus on the development and optimization of the XRP Ledger (XRPL) EVM sidechain, still in development in the Devnet.

The XRPL EVM sidechain will be built leveraging the capabilities of evmOS, a modular and customizable technology platform provided by Evmos. 

evmOS allows full compatibility with EVM and enables complete customization on top of the Cosmos SDK stack. This provides access to over 60 Cosmos SDK chains via the Inter-Blockchain Communication (IBC) protocol. 

Furthermore, it places the XRPL EVM sidechain within the context of industrial standards and integrates it into one of the most versatile web3 ecosystems, the interchain. evmOS features a series of functionalities and modules focused on EVM implementation for Cosmos SDK. 

With IBC functionality, EVM extensions, access to the dApp Store, and a high degree of customization, evmOS is positioned as a ready-to-launch solution suitable for a wide range of scenarios. 

Built on the CometBFT consensus engine, evmOS focuses on native and cross-chain applications, providing unprecedented flexibility to XRPL developers in expanding the XRPL EVM sidechain according to their needs.

Integrating XRPL into the interchain means connecting its strong community of users, dApps, and liquidity to a network of over 90 interconnected chains. 

The evmOS outposts will further improve the interoperability of the XRPL EVM sidechain, acting as a gateway between blockchain networks and simplifying the transfer of assets and information between them. 

Thanks to evmOS, XRPL users will be able to make exchanges on platforms like Osmosis in a single transaction, without having to change wallets or reconnect to different chains.

The adoption of evmOS by Ripple and Peersyst represents a significant advancement that combines established solutions with versatility and interoperability. 

As the XRPL embarks on its cross-chain journey, the entire blockchain community is eagerly waiting to observe the impact this will have on the industry as a whole.

Peter Brandt warns: XRP could continue to lose value compared to Bitcoin

Peter Brandt, a well-known market expert, has recently pointed out that XRP could continue to depreciate compared to Bitcoin (BTC), while it continues to touch its historical lows.

His opinions have been shared on X (Twitter), where he warned that the XRP/BTC pair could soon drop below its long-term minimum level. 

Brandt has suggested that, although XRP may show some signs of potential upside compared to BTC in the current market cycle, the burden of proof still remains on XRP. 

It also raised the question of whether, considering the situation of altcoins, XRP is the best choice. According to Brandt’s observations, the XRP/BTC pair has shown a downward trend since 2017. 

Currently, BTC has an exchange value of about $61,534, firmly maintaining its position at the top for market value despite a 2.27% decrease in the last 24 hours. 

The market capitalization of BTC is around 1.2 trillion dollars, with a 24-hour trading volume that, after peaking the previous day, has recorded a modest 5% increase reaching 28 billion dollars.

On the other hand, XRP is trading at about $0.504, with a market capitalization of 27.9 billion dollars, ranking 7th on the CMC list. 

Despite a 1% drop in the last 24 hours, XRP’s trading volume has increased by 6%, once again surpassing the billion dollar mark.

Alessia Pannone
Alessia Pannone
Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.