Boba Network (BOBA) becomes first-ever BNB Chain Layer 2 solution, strengthens its presence in multi-chain segment
Boba Network (BOBA), a leading multi-blockchain second-layer protocol designed to make dApp operations faster and more cost-efficient, expands to one of the most popular smart contracts platforms.
Boba Network becomes pioneering L2 protocol on BNB Chain
According to the official announcement shared by the Boba Network (BOBA) team, its scaling mechanisms are now live on BNB Chain, a programmatic blockchain backed by leading cryptocurrency exchange Binance (BNB).
🤩 Let’s welcome BobaBNB! 🤩
We’re excited to announce the launch of scaling solution for @BNBCHAIN! 🚀
BobaBNB caters to the massive user base and dev community enabling smarter contracts and lightning fast transactions 🏎️
🧵 1/X pic.twitter.com/8IwGCbooJr
— Boba Network 🧋 x #BNBChain (@bobanetwork) November 1, 2022
As BNB Chain is a top three smart contract platforms by total value locked (TVL) in its protocols, it needs the powerful solutions to address its scalability issues. Boba Network (BOBA), a mainstream second-layer protocol for all EVM-compatible networks, is going to achieve this ambitious goal.
BNB Chain is seamlessly interoperable with Boba Network (BOBA) thanks to its on-chain token bridge. Transaction fees in new network can be paid in both BOBA and BNB assets.
Alan Chiu, founder and CEO of Enya.ai, a core contributor to the Boba Network (BOBA), highlights the importance of this release for tech development and adoption of BNB Chain solutions for dApp devs:
BNB Chain is one of the most successful chains outside of Ethereum, cementing a rich and innovative DeFi and NFT ecosystem. It is also a key partner for our vision, as it focuses on the average user and aligns with our goals of bringing 1 billion people to Web3. We are excited to launch on BNB Chain to help that vision come true and grow the multi-chain Web3 experience
The new development will be stress tested by launch partners: cross-chain DEX Sushi, metaverse project Nova Miningverse, 3D RPG Lady Blur and blockchain card game Foxtrot Command.
Hybrid Compute reduces transactional pressure on BNB Chain’s mainnet
Boba’s proprietary technology Hybrid Compute is the backbone element of the new design: it allows developers to move noncritical computations off-chain to improve the system’s scalability potential.
Lorenzo Stroe, CEO at Nova, is excited by the opportunities Boba’s deployment on BNB Chain unlock for Web3 applications, its teams and users:
We are thrilled to work with Boba Network and truly become a multi-chain project thanks to their built-in bridges and lightning fast transactions that can greatly reduce the waiting times for players while remaining cheap. We are excited for a long-term collaboration to create a real Metaverse
By Q4, 2022, Boba Network (BOBA) accomplished a 60x reduction of transactional fees compared to Ethereum (ETH), its first basic blockchain. Also, Boba Network (BOBA) unveiled solutions for the Fantom (FTM), Avalanche (AVAX) and Moonbeam (GLMR) networks.l
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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