Boba Network is a Layer 2 scaling solution for Ethereum that uses Optimistic Rollups to significantly reduce transaction fees and increase transaction throughput. It is the first scaling infrastructure that is deployed on multiple blockchains, making it the leading Web3 multichain execution layer with scaling capabilities to facilitate more functionality on EVM-compatible blockchains.
Was founded in 2021 by Alan Chiu, Enya Zhang, and Jeff Feng. The team has a deep understanding of Ethereum and scaling technologies, and they are committed to building a scalable and secure infrastructure for Web3 applications.
Uses Optimistic Rollups to scale Ethereum. Optimistic Rollups work by bundling multiple Ethereum transactions together and processing them off-chain. This allows Boba Network to achieve significant transaction fee reductions and throughput increases.
Once a bundle of transactions has been processed off-chain, it is submitted to the Ethereum mainnet for verification. This verification process takes approximately 1 week, but users can withdraw their funds from Boba Network to Ethereum at any time.
It is also compatible with the Ethereum Virtual Machine (EVM). This means that existing Ethereum applications can be deployed on Boba Network without any modifications. This makes Boba Network a very attractive option for developers who want to build scalable Web3 applications.
Boba Network is still under development, but it has already gained significant adoption from the Ethereum community. Over 100 projects have already deployed on Boba Network, and the network has processed over 1 million transactions.
Here are some of the benefits of using Boba Network:
Boba Network is a promising scaling solution for Ethereum. It has the potential to make Ethereum more accessible to users and developers by reducing transaction fees and increasing transaction throughput.
Boba Network is still under development, but it has the potential to revolutionize the way that Web3 applications are built and used. By reducing transaction fees and increasing transaction throughput, Boba Network can make Web3 more accessible to everyone.