Peersyst launches public testnet for Ethereum-compatible sidechain

Peersyst Technology, a blockchain infrastructure developer, has launched a public testnet of a new Ethereum-compatible sidechain designed specifically for the XRP Ledger (XRPL). The project marks a major step toward enabling Ethereum-based smart contracts within the XRP ecosystem, ETHNews reports.

Peersyst is working with RippleX, Axelar Network, and Common Prefix to expand the functionality of XRPL, particularly in decentralized finance (DeFi). The Ethereum Virtual Machine (EVM)—the blockchain's environment for transaction execution—is playing a crucial role in this initiative.

The latest testnet of the sidechain introduces several key upgrades, including integration with standard Ethereum wallets and cross-chain bridging via Squidrouter technology. According to ETHNews, these features will simplifiy asset exchange between XRPL and Ethereum.