XRP Ledger’s EVM sidechain sees 1,400 smart contracts in first week

The Ethereum Virtual Machine (EVM)-compatible sidechain of the XRP Ledger is showing early signs of traction among developers, with over 1,400 smart contracts deployed just one week after launch.

On July 7, Peersyst confirmed the strong demand in a post stating that nearly 1,400 smart contracts had gone live within the first week. As of press time, the total number of smart contracts on the platform has reached 1412.

A closer look at the network shows a rising wave of yield-bearing DeFi projects and trading protocols, including versions of Uniswap, being deployed on the platform.

Modest user interactions

Although this level of contract activity suggests interest, the user adoption rate appears more measured.

Of the 1,211 new accounts created, over 80% were registered within the first two days of its launch, with subsequent days seeing only a handful of signups.

Meanwhile, active accounts have generally remained below 150 since launch, indicating limited day-to-day usage despite a promising developer start.

Nonetheless, market observers noted that the network, developed by Peersyst and built to bring Ethereum-style smart contract functionality to XRP Ledger, is already laying the groundwork for a broader decentralized ecosystem within the Ripple-linked blockchain.

XRPL’s EVM strength

From a technical standpoint, the XRPL EVM sidechain appears to be operating smoothly. The network has already processed over 1.12 million blocks with an average block time of just 5.66 seconds.

There were no pending transactions recorded in the most recent 30-minute period, suggesting high throughput and low congestion.