Axelar

DeFi

Enhance

<ul>
  
 <li>RippleX will reset the XRP Ledger Testnet on August 19 at 3 AM EST for improved stability and cost reduction.</li>   
 <li>The update integrates Ethereum Virtual Machine (EVM) compatibility, enabling Ethereum-based smart contracts on the XRP Ledger.</li>   
 <li>RippleX is partnering with Axelar to enhance blockchain interoperability and access to DeFi applications.</li> 
</ul>   
<p>RippleX is taking a significant step to enhance the <a href="https://cryptonewsland.com/anodos-finance-joins-xrp-ledgers-unique-node-list/" target="_blank" rel="noreferrer noopener">XRP Ledger</a> Testnet. On August 19, at 3 AM EST, the testnet will undergo a reset. This 15-minute update aims to improve network stability, reduce costs, and integrate Ethereum Virtual Machine (EVM) compatibility.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/CollinBrownXRP/status/1820677707895656616 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-enhancing-network-stability-and-performance">Enhancing Network Stability and Performance</h2>   
<p>The upcoming reset of the XRP Ledger Testnet is crucial for maintaining a robust and efficient blockchain environment. This is expected to significantly reduce operational costs associated with network stress and inefficiencies.</p>   
<p>Additionally, the EVM integration will enable developers to deploy Ethereum-based smart contracts on the XRP Ledger. This update aligns with RippleX's goal to create a more versatile and developer-friendly platform.</p>   
<p>In addition to the <a href="https://cryptonewsland.com/ripplex-sets-date-for-xrpl-testnet-reset-to-enhance-stability/" target="_blank" rel="noreferrer noopener">testnet reset</a>, RippleX is partnering with Axelar, a renowned name in blockchain interoperability. The collaboration aims to bridge different blockchain networks, facilitating seamless communication and transactions between them.&nbsp;</p>   
<p>Axelar's expertise will help XRP Ledger users access a broader range of decentralized finance (DeFi) applications and services. Experts believe this partnership will open new avenues for DeFi on the XRP Ledger.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-defi-growth-potential-nbsp">DeFi Growth Potential&nbsp;</h2>   
<p>As <a href="https://www.ibm.com/topics/blockchain" target="_blank" rel="noreferrer noopener nofollow">blockchain technology</a> continues to evolve, interoperability between different networks becomes increasingly important. RippleX and Axelar's collaboration will likely make XRP Ledger a more attractive option for developers and users seeking comprehensive DeFi solutions.</p>   
<p>According to DeFi Pulse, the total value locked in DeFi has seen exponential growth, reaching over $80 billion in 2023. This trend indicates a growing interest and trust in DeFi platforms, making the timing of RippleX's updates and partnerships particularly strategic.</p>   
<p>As RippleX continues to innovate and improve the XRP Ledger, these updates and partnerships are expected to drive substantial growth and adoption. RippleX is positioning itself as a leader in the blockchain space. Partnering with <a href="https://www.axelar.network/" target="_blank" rel="noreferrer noopener nofollow">Axelar</a> further strengthens its commitment to interoperability and DeFi potential.</p>   
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>   
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
  
 <li><a href="https://cryptonewsland.com/ripple-joins-forces-with-axelar-foundation-to-elevate-xrp-ledgers-cross-chain-compatibility/">Ripple Joins Forces with Axelar Foundation to Elevate XRP Ledger’s Cross-Chain Compatibility</a></li>   
 <li><a href="https://cryptonewsland.com/ripplex-sets-date-for-xrpl-testnet-reset-to-enhance-stability/">RippleX Sets Date for XRPL Testnet Reset to Enhance Stability</a></li>   
 <li><a href="https://cryptonewsland.com/crypto-market-resets-as-bitcoin-approaches-halving-whats-ahead/">Crypto Market Resets as Bitcoin Approaches Halving: What's Ahead?</a></li>   
 <li><a href="https://cryptonewsland.com/att-email-hacks-cryptocurrency-thefts-techcrunch/">AT&amp;T Email Breaches Result in Cryptocurrency Thefts</a></li>   
 <li><a href="https://cryptonewsland.com/ripplex-unveils-filedgr-to-elevate-data-transparency/">RippleX Unveils Filedgr: Elevating Data Transparency with Digital Certificates and Twin Data Hub</a></li> 
</ul> 
<p>The post <a href="https://cryptonewsland.com/xrp-ledger-testnet-reset-boosts-defi/">XRP Ledger Testnet Reset to Enhance DeFi and Blockchain Interoperability</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

XRP Ledger Testnet Reset to Enhance DeFi and Blockchain Interoperability

Table of Contents

Crypto News Land

Other articles published on Aug 6, 2024

Binance Labs Announces Second Cohort of Season 7 Incubation Program: Aarc, FluxLayer, and Ton Ton...

What Has Intensified SEC vs Coinbase Legal Battle Now?

ARK Invest purchases millions worth of COIN and HOOD

Pepe Unchained Shakes Off Recession Fears, Raising $700K In 3 Days With ICO Funds Now At $7.4M

Trump’s $35 Trillion Debt Plan: Analysing The Impact on Cryptos

Peter Brandt Referred to 2016 and Announced the Data He Considered as a Bullish Signal for Bitcoin!

Join our free newsletter for daily crypto updates!