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California, United States, May 10th, 2023, Chainwire
Boba Network, the only multichain Layer 2 (L2) solution and the sole active L2 on BNB Chain, today announced that its BobaBNB platform processed a record 2,863,240 transactions in April, up from 585,818 in March and 99,362 in February. With over 45,000 wallets, BobaBNB is now processing more than 100,000 transactions daily.
These milestones highlight the growing adoption of BobaBNB, which saves users and projects an average of 80% on transaction costs while providing lightning-fast speeds. This remarkable achievement marks the first instance of significant L2 transaction volume on an ecosystem outside of Ethereum.
“BNB Chain provides a significant opportunity for Boba Network as the only multichain layer 2 as it has more active addresses than any other blockchain,” said a core contributor to Boba Network. “Boba Network will continue to leverage the continued growth of BNB Chain to provide users and developers with faster transaction speeds at significantly lower costs with the opportunity to utilize HybridCompute™ that delivers off-chain data and compute, enabling smarter applications for mass adoption.”
“We are glad to see the growing adoption of BobaBNB with these remarkable transaction volumes. As an advanced layer-2 scaling solution on BNB Chain, Boba Network aims to accelerate the development of dApps and games, and we are excited to see what the future holds for this ecosystem”, said Zoe Wei, Head of Marketing and DevRel at BNB Chain.
The surge in transactions on BobaBNB is attributed to the collaboration with ROVI Network and the popular Web3 game, MegaWorld.
ROVI Network is a Web3 powerhouse with the ambitious goal of bringing crypto to the daily lives of billions of users through its Crypto Super App platform.
MegaWorld, a massive multiplayer Web3 city builder strategy game with real economics running on smart contracts since 2018, has also significantly driven increased activity on BobaBNB.
In a remarkable development this March, the Boba BNB layer-2 platform witnessed an astounding 585,818 transactions, raising the total number of wallet addresses to 12,716. Its integration with Binance’s BNB Chain offers an exceptional opportunity for Web3 developers to create advanced dApps and games, taking advantage of the unique features provided by BNB Chain.
As the pioneering and exclusive layer 2 solution on BNB Chain, Boba BNB L2—powered by Boba Network—allows users and developers to deploy EVM-compatible dApps while enjoying accelerated transaction speeds and reduced costs.
In addition, BNB Chain developers can further harness Boba’s cutting-edge Hybrid Compute technology. This groundbreaking innovation empowers Boba Network to integrate Web2 capabilities on-chain, enabling smart contracts to access off-chain computing resources and real-world data. Consequently, decentralized applications can deliver enriched and unparalleled user experiences.
Boba Network’s core contributors are thrilled with the growing traction on BobaBNB. Last year, the network deployed a multichain strategy, positioning itself as the only multichain L2 provider.
Each transaction brings revenue to the network, and Boba Network is committed to supporting efforts to build out the BobaBNB ecosystem further.
About Boba Network
Boba Network is an optimistic-based multichain layer-2 scaling solution that aims to unlock the potential of rollup technology and enable more flexible blockchain communication. The protocol is fully compatible with EVM-based tools and has already deployed multichain support for Avalanche, BNB, and Fantom, supporting lightning-fast transactions and fees anywhere from 40-100X less than the respective layer-1. Boba Network is powered by Hybrid Compute technology that brings the power of Web2 on-chain, with smarter smart contracts that allow developers to leverage off-chain compute and real-world data to deliver enriched experiences for decentralized applications.
Disclaimer: Press release sponsored by our commercial partners.