Boba Network Scales To Record-Breaking 2.86 Million Transactions On BNB Chain

BNB Chain’s Layer-2 scaling solution Boba Network is currently enjoying a hot streak, processing more than 2.86 million transactions in April, amounting to over 100,000 per day.

Woman drinking boba tea, with Boba Network logo on it.

BNB Chain’s Layer-2 scaling solution Boba Network is currently enjoying a hot streak, processing more than 2.86 million transactions in April, amounting to over 100,000 per day. 

It’s a record-breaking achievement for Boba Network, which processed just 585,818 transactions in the previous month of March, up from 99,362 in February. It suggests that BNB Chain users are adopting Boba Network at an unprecedented rate, and that claim is backed by the fact there are now more than 45,000 active wallets on the network. 

Sponsored

Boba Network is a Layer-2 scaling solution that leverages the concept of “optimistic rollups,” enabling transactions to be processed far faster than if made on the native blockchain. It also has the benefit of significantly reducing transaction costs, saving users up to 80% on gas fees. Because it’s a multichain scaling solution, Boba Network supports various blockchains, including BNB Chain, Avalanche, and Fantom. It was originally designed for Ethereum, but it sees a big opportunity in catering to BNB, as it has more active wallet addresses than any other blockchain. 

“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 Hybrid Compute that delivers off-chain data and compute, enabling smarter applications for mass adoption,” one of the network’s core contributors said in a statement. 

Hybrid Compute refers to Boba Network’s unique ability to incorporate off-chain computing, allowing decentralized application developers to create smart contracts that can access real-world data and other resources that don’t live on blockchains. Through this, it enables the creation of far richer and more capable dApps than other networks can support. 

The incredible growth of Boba Network on BNB Chain marks the first instance of an L2 scaling solution for a network other than Ethereum achieving significant transaction volume. Boba Network singled out its collaboration with ROVI Network, creator of the popular Web3 game MegaWorld, for its rapid increase in utilization. 

Sponsored

ROVI Network is the creator of a Crypto Super App that aims to onboard billions of users to the world of Web3 and crypto, and it has created many products to do this. They include M91, a payments app for mass-market users; Keyboard91, which is an AI-powered smart keyboard app that generates crypto rewards for users who send and receive messages on the platform; and Gaming 91, a crypto gaming platform whose flagship offering is MegaWorld, a multiplayer city-builder strategy game with crypto-based economics. 

Boba said MegaWorld is available on multi chains but has recently driven significant activity on its L2 as players look to take advantage of its faster transaction speeds and lower costs. It’s also gaining traction with hundreds of other Web3 developers who require a more flexible platform for building advanced dApps and games. 

BNB Chain’s head of marketing and developer relations, Zoe Wei, said she was happy to see the growing adoption of Boba Network and its rising transaction volume. “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,” she explained. 

The good news is that the more Boba Network grows, the more it will be able to accelerate the development of its network. Boba earns a small chunk of change from each transaction as part of its revenue, and its development team uses those funds to build out the network and its capabilities. 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Alex Costa

Alex Costa is a crypto writer and investor specializing in researching, analyzing and reporting on promising small-cap projects that are gaining traction in the industry. He has been in crypto since 2018, when he began looking for hidden gems in crypto. Today, he is dedicated to finding the next top performing NFTs and tokens.