Boba Network, Layer 2 scaling solution on Ethereum, has
gone multi-chain by expanding to two other Ethereum-
compatible chains: Fantom and Moonbeam.
Boba Network is a Layer 2 solution that leverages Optimistic
Rollups,an off chain computation layer to achieve faster and
cheaper transactions for the Layer 1 network.
Until now, Boba had only existed on the Ethereum blockchain.
Still, by adding two new networks, it’s decided go multi-chain.
Both Fantom and Moonbeam are Layer 1 blockchains
compatible with the Ethereum Virtual Machine, and host
several smart contract-powered decentralized applications.
Fantom exists as a notable competitor to Ethereum
that holds more than $1.6 billion worth of crypto assets, per
DeFi Llama. Moonbeam is still an emerging blockchain on
Polkadot — a leading interoperability network.
With the expansion, Boba’s Layer 2 aims to help scale
applications existing on Fantom and Moonbeam.
Furthermore, the Boba Network team plans to give
developers on these networks access to an offering called Hybrid Compute. This is a tool that can enable blockchain
applications to interact with cloud environments of off chain data, like those generated by social media platforms.
hiveblocks