XRPL - EVM SIDECHAIN

Discovering the XRPL EVM sidechain during 2 days of training offered by XRPL-Commons.
See also: xrpl-training.

Table of Contents

• Presentation
• Repo Content
  • Prerequisites
  • Installation
  • Usage

Presentation

Thanks to the work of Peersyst, the integration of an EVM sidechain to XRPL could soon be realized. The amendment that would allow its integration is currently in the voting phase.

XRPL has been operational for about ten years. Its security, transaction speed, and cost-efficiency make it a prime choice for payment solutions. The integration of the EVM sidechain will extend the utility of XRPL by adding the capability for smart contracts.

XRP is the native token of the sidechain, and a decentralized bridge, also developed by Peersyst, ensures a balanced 1:1 XRP circulation.

The consensus mechanism utilized is Proof of Authority (PoA), similar to that of the XRPL, maintaining the original network's efficiency with a 3.5-second block time and a capacity of 1,000 transactions per second.

The sidechain is built on the Cosmos SDK, which allows it to interact with the Cosmos ecosystem.

Repo Content

This repository contains a simple Hardhat project for utilizing the sidechain. It includes a voting contract and an ERC20 token used as a weighting mechanism for votes.

Note: The contracts are incomplete and the solution is not safe for real-world use! These are just minimal features meant for testing purposes.

Prerequisites:

First, obtain some testnet tokens to cover transaction fees:

1. Visit the bridge: https://bridge.devnet.xrpl.org/
2. On the left side, select XRPL Devnet.
3. Click "Connect" then "Faucet" to generate an account with XRP Devnet tokens.
4. On the right side, connect your Metamask and switch it to EVM Sidechain Devnet.
5. Select an amount and click "Transfer".

Installation:

• Clone the repo: git clone https://github.com/ibourn/xrpl-evmSidechain.git
• Move inside the repo directory: cd xrpl-evmSidechain
• Install the dependencies: npm install
• Compile the contracts: npx hardhat compile
• Rename .env.example to .env and add your private key as indicated.

Usage:

To run the scripts:

1. npm run deploy-token to deploy the token.
2. npm run buy-token to purchase some tokens.
3. npm run deploy-voting to deploy the Voting contract.
4. npm run create-proposal to create a proposal.
5. npm run vote-yes or npm run vote-no to vote on the proposal.

Use the explorer to check your transactions.

To verify the contracts with the explorer, follow these steps:

1. Run npx hardhat flatten > Flattened.sol to create a file with all the necessary code.
2. Click Verify & Submit.
3. Choose the Flattened Source Code Method.
4. Select the Solidity version used (v0.8.24).
5. Select the EVM version (Paris).
6. Ensure optimization is unselected.
7. Paste the content of your Flattened.sol file.
8. Click Verify & Publish.