Osmosis

Algorand

Foundation

Cosmos

Crypto company Ripple has entered into a partnership with evmOS. 
According to a post on <a href="https://crypto.news/tag/Cosmos/" target="_blank" rel="">Cosmos</a>‘ blog, <a href="https://crypto.news/tag/Ripple/" target="_blank" rel="">Ripple</a> and <a href="https://crypto.news/tag/evmOS/" target="_blank" rel="">evmOS</a> are collaborating to develop the Ethereum Virtual Machine (<a href="https://crypto.news/tag/EVM/" target="_blank" rel="">EVM</a>) XRP Ledger (XRPL) sidechain based on evmOS technology. 
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 💥 <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" target="_blank" rel="">@Ripple</a> &amp; <a href="https://twitter.com/EvmosOrg?ref_src=twsrc%5Etfw" target="_blank" rel="">@EvmosOrg</a> have joined forces to build an XRP Ledger EVM sidechain! The sidechain will be built with <a href="https://twitter.com/hashtag/evmOS?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#evmOS</a> – a production-ready modular solution that leverages Cosmos SDK, IBC, and CometBFT to bring EVM compatibility to Web3 businesses. XRPL future is <a href="https://twitter.com/hashtag/interchain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#interchain</a> <a href="https://t.co/VEOO8dawlh" target="_blank" rel="">pic.twitter.com/VEOO8dawlh</a>— Cosmos – The Interchain ⚛️ (@cosmos) <a href="https://twitter.com/cosmos/status/1790363020104794303?ref_src=twsrc%5Etfw" target="_blank" rel="">May 14, 2024</a>
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The sidechain will be built using evmOS, a ready-to-use modular solution that uses Cosmos and CometBFT to provide EVM compatibility for <a href="https://crypto.news/tag/Web3/" target="_blank" rel="">web3</a> companies. 
The Cosmos announcement also <a href="https://blog.cosmos.network/evmos-collaborates-with-ripple-and-peersyst-to-enhance-the-xrpl-evm-sidechain-b5492f2dc26b" target="_blank" rel="">states</a> that bringing the XRP Ledger to cross-chain means connecting a vast community of users, decentralized applications (<a href="https://crypto.news/tag/dapps/" target="_blank" rel="">dapps</a>), and liquidity to a network of over 90 interconnected networks. 
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 “The XRPL community now gains a passport to all Cosmos SDK chains, allowing its users to seamlessly interact with any applications they need.” <cite>Cosmos team</cite>
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Using Osmosis as an example, XRPL users can exchange assets with <a href="https://crypto.news/tag/Osmosis/" target="_blank" rel="">Osmosis</a> in a single transaction without switching wallets or connecting to different chains, despite Osmosis not being an EVM-compatible network. 
Ripple previously <a href="https://crypto.news/ripple-joins-derec-alliance-asset-recovery-initiative/" target="_blank" rel="">joined</a> Swirlds Labs and the <a href="https://crypto.news/tag/Algorand/" target="_blank" rel="">Algorand</a> Foundation as a founding member of the DeRec Alliance. The initiative aims to simplify the adoption and recovery of digital assets. 
Originally launched by ecosystem members Hedera and <a href="https://crypto.news/tag/Algorand/" target="_blank" rel="">Algorand</a>, Ripple and its division XRPL Labs have since joined as members of the Technical Oversight Committee with powers for two years. 
 You might also like: <a href="https://crypto.news/ripple-asks-court-to-reject-secs-2b-claims/" rel=""> Ripple asks court to reject SEC’s $2b claims </a>

Ripple to develop EVM XRP Ledger sidechain

crypto.news

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