Blockchain payments company Ripple has announced its plans to introduce smart contracts to the XRP Ledger mainnet. This significant development aims to enhance the platform's programmability and attract more developers to the ecosystem.

Since its launch in 2012, the XRP Ledger has primarily been utilized by banks and financial institutions for cross-border payments. With the integration of smart contracts, the platform is expected to become more flexible, allowing developers to creatively leverage its core components to build new decentralized applications.

The announcement emphasizes that developers can deploy smart contracts on the XRPL without undergoing a formal amendment process or seeking approval. To ensure the security, efficiency, and ease of deployment, Ripple will implement the XLS standard.

In collaboration with blockchain infrastructure provider Peersyst, Ripple also plans to deploy the XRPL EVM Sidechain early next year. This sidechain will enable XRPL developers to utilize Ethereum Virtual Machine tools and programming languages. The XRPL EVM will employ the Axelar cross-chain bridge to facilitate transactions between the XRPL EVM Sidechain, the XRP Ledger, and over 55 other blockchains through wrapped XRP (eXRP), which will also serve as the gas token for the sidechain.

Overall, Ripple's decision to introduce smart contracts to the XRP Ledger marks a significant step towards expanding the platform's capabilities and attracting a wider developer community.