Enya, a developer of decentralized infrastructure solutions, today announced the launch of the mainnet beta of Boba Network, its new Ethereum layer-2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput, and extends the capabilities of smart contracts.
Boba reduces gas fees and improves transaction throughput by aggregating transactions in volume while ensuring compatibility with Ethereum. DeFi and NFT applications that are currently cost-prohibitive on Ethereum become affordable on Boba.
Aiming to stand out among current Ethereum layer-2 solutions, Boba provides a streamlined exit of cryptocurrency-assets from Boba to Ethereum, extensible smart contracts, and, soon, decentralized autonomous organization (DAO) governance.
Overview: Boba Network
Optimizing for user experience, the Boba Network offers fast exits that are backed by community-driven liquidity pools, shrinking the withdrawal period from the conventional seven days to only a few minutes.
Further, the Boba NFT Bridge allows for cost-effective NFT launches which can be brought to Ethereum. NFT projects are all on Ethereum, but gas wars make it a playground only for the rich. Boba makes it possible to use NFTs for micro-transactions such as in gaming while enjoying the security of Ethereum.
This solution offers the best of both worlds: security and decentralization rooted in Ethereum (no compromise like a multisig bridge wallet) but also low transaction costs and fast execution.
In terms of new capabilities for the ecosystem, Boba enables Ethereum developers to create smart contracts that trigger code running on web-scale infrastructure such as AWS Lambda, making it possible to leverage sophisticated algorithms that are either too expensive, slow, or difficult to execute on-chain.
Finally, the Boba DAO lays the groundwork for decentralized governance by encouraging the community to propose network enhancements and vote on the proposals right on the Boba Network.
“We welcome the entire DeFi and NFT developer community to build on Boba. Our team is passionate about creating a more inclusive decentralized ecosystem. We are doing this by reducing barriers to adoption for users and developers. The launch of Boba’s mainnet beta today brings us one step closer…”
– Alan Chiu, Founder & CEO of Enya
Enya, a developer of decentralized infrastructure options, at present introduced the launch of the mainnet beta of Boba Community, its new Ethereum layer-2 Optimistic Rollup scaling resolution that reduces gasoline charges, improves transaction throughput, and extends the capabilities of sensible contracts.
Boba reduces gasoline charges and improves transaction throughput by aggregating transactions in quantity whereas making certain compatibility with Ethereum. DeFi and NFT functions which are at present cost-prohibitive on Ethereum change into inexpensive on Boba.
Aiming to face out amongst present Ethereum layer-2 options, Boba gives a streamlined exit of cryptocurrency-assets from Boba to Ethereum, extensible sensible contracts, and, quickly, decentralized autonomous group (DAO) governance.
Overview: Boba Community
Optimizing for person expertise, the Boba Community presents quick exits which are backed by community-driven liquidity swimming pools, shrinking the withdrawal interval from the standard seven days to only some minutes.
Additional, the Boba NFT Bridge permits for cost-effective NFT launches which will be delivered to Ethereum. NFT initiatives are all on Ethereum, however gasoline wars make it a playground just for the wealthy. Boba makes it attainable to make use of NFTs for micro-transactions corresponding to in gaming whereas having fun with the safety of Ethereum.
This resolution presents the very best of each worlds: safety and decentralization rooted in Ethereum (no compromise like a multisig bridge pockets) but in addition low transaction prices and quick execution.
When it comes to new capabilities for the ecosystem, Boba permits Ethereum builders to create sensible contracts that set off code working on web-scale infrastructure corresponding to AWS Lambda, making it attainable to leverage subtle algorithms which are both too costly, sluggish, or tough to execute on-chain.
Lastly, the Boba DAO lays the groundwork for decentralized governance by encouraging the neighborhood to suggest community enhancements and vote on the proposals proper on the Boba Community.
“We welcome your entire DeFi and NFT developer neighborhood to construct on Boba. Our crew is captivated with making a extra inclusive decentralized ecosystem. We’re doing this by lowering obstacles to adoption for customers and builders. The launch of Boba’s mainnet beta at present brings us one step nearer…”
– Alan Chiu, Founder & CEO of Enya