Fast Take
- Boba Community, an Ethereum Layer 2 has gone multi-chain.
- Boba’s Layer 2 providing goals to assist scale functions on Fantom and Moonbeam.
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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 quicker 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 determined go multi-chain. Each Fantom and Moonbeam are Layer 1 blockchains appropriate with the Ethereum Digital Machine, and host a number of good contract-powered decentralized functions (dApps). Fantom exists as a notable competitor to Ethereum that holds greater than $1.6 billion value of crypto property, per DeFi Llama. Moonbeam remains to be an rising blockchain on Polkadot — a number one interoperability community.
With the enlargement, Boba’s Layer 2 goals to assist scale functions present on Fantom and Moonbeam. Moreover, the Boba Community crew plans to provide builders on these networks entry to an providing referred to as Hybrid Compute. It is a instrument that may allow blockchain functions to work together with cloud environments of off-chain information, like these generated by social media platforms.
Talking on Boba’s launch on Fantom blockchain, Michael Kong, the CEO of Fantom Basis stated: “The mixing will assist carry elevated scalability to Fantom and ship the sources builders must design inventive, 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 collection A spherical that gave it a $1.5 billion valuation.
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