Fast Take
- Boba Community has grow to be the primary Ethereum Layer 2 to go multi-chain.
- Boba’s Layer 2 providing goals to assist scale functions on Fantom and Moonbeam.
Boba Community, Layer 2 scaling answer on Ethereum, has gone multi-chain by increasing to 2 different Ethereum-compatible chains: Fantom and Moonbeam.
Boba Community is a Layer 2 answer that leverages Optimistic Rollups, an off-chain computation layer to realize sooner and cheaper transactions for the Layer 1 community.
Till now, Boba had solely existed on the Ethereum blockchain. Nonetheless, by including two new networks, it’s grow to be the primary Ethereum Layer 2 to go multi-chain. Each Fantom and Moonbeam are Layer 1 blockchains appropriate with the Ethereum Digital Machine, and host a number of sensible contract-powered decentralized functions (dApps). Fantom exists as a notable competitor to Ethereum that holds greater than $1.6 billion price of crypto belongings, per DeFi Llama. Moonbeam continues to be an rising blockchain on Polkadot — a number one interoperability community.
With the growth, Boba’s Layer 2 goals to assist scale functions current on Fantom and Moonbeam. Moreover, the Boba Community crew plans to present builders on these networks entry to an providing known as Hybrid Compute. It is a instrument that may allow blockchain functions to work together with cloud environments of off-chain knowledge, like these generated by social media platforms.
Talking on Boba’s launch on Fantom blockchain, Michael Kong, the CEO of Fantom Basis stated: “The combination will assist deliver elevated scalability to Fantom and ship the assets builders have to design artistic, large-scale dApps.”
Boba first launched in August 2021 to compete with different Layer 2 scaling options like Optimism and Arbitrum. In April of this yr, it raised $45 million in a sequence A spherical that gave it a $1.5 billion valuation.
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