Boba Network, a multichain Layer 2 (L2) solution, has achieved a remarkable feat with its BobaBNB platform setting a new transaction record last month. In May alone, 3,073,042 transactions were processed, surpassing the previous month’s figure of 2,863,240 and dwarfing the mere 585,818 transactions in March. With an impressive user base of over 80,000 individual wallets on BobaBNB, the network now handles an average of 220,000 daily transactions.
The exponential transaction surge on BobaBNB can be attributed to the extraordinary popularity of ROVI Network, a Web3 infrastructure protocol that aims to revolutionize the crypto ecosystem and make it accessible to the masses. ROVI Network, having joined forces with BobaBNB a mere six weeks ago, has already emerged as the network’s most prominent decentralized application (dApp), boasting an astonishing 50,000+ wallets and a run-rate of over 3 million transactions per month.
The emergence of ROVI Network as the dominant dApp on BobaBNB is no surprise, given its steadfast commitment to foster crypto adoption through an array of interconnected products. At the forefront is the M91 Crypto Super App, likened to a WeChat Pay for the crypto realm, designed to facilitate fast and user-friendly peer-to-peer crypto payments. Additionally, ROVI offers Keyboard91, an AI Smart Keyboard app that rewards users with crypto for typing messages, and Gaming91, a fantasy game.
ROVI Network has constructed vital infrastructure to onboard billions of users to Web3, including Multi-Party Computation-based secure, keyless wallets, gas-less transactions, and one-click on- and off-ramps between crypto and fiat currencies.
The compatibility between BobaBNB and ROVI Network is impeccable, as BobaBNB enables users to save an average of 80% on gas fees while processing transactions at near real-time speeds. Consequently, BobaBNB stands as the first Layer 2 solution outside the Ethereum ecosystem to generate such a substantial transaction volume.
Another catalyst for the increased transaction volume on BobaBNB stems from the immense popularity of MegaWorld, a massively multiplayer Web3 city builder game.
About Boba Network
Boba Network is a multichain layer-2 scaling solution with an optimistic outlook. Its goal is to unlock the potential of roll-up technology and provide blockchain enthusiasts and businesses with unparalleled flexibility to navigate the complex blockchain ecosystem.
Boba Network has a significant advantage in its compatibility with EVM-based tools. Developers can easily integrate with the network, allowing them to take advantage of its multichain support for popular platforms like Avalanche, BNB, and Fantom.
The benefits Boba’s multichain support are truly game-changing. Transactions are lightning-fast, outpacing L1 Blockchain with fees significantly reduced, often ranging from 40 to 100 times less than those on L1. This cost efficiency enables a more inclusive and accessible blockchain ecosystem, where barriers to entry are lowered, and innovation can thrive.