November 30, 2022

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BNB blockchain is the native ecosystem for BNB coins that provides support for the largest cryptocurrency exchange market in the world called Binance.

Recently, the Boba network announced that it rendered its layer-2 scaling solution on the BNB network. The project has been deployed and developed by a blockchain development firm called Enya.

Like many of its contemporaries, the main objective of the Boba network is to increase the scalability of the Binance chain.

With the help of this new upgrade, SushiSwap is going to adhere to BNB blockchain by way of the Boba network. Several other DeFi platforms will line up to join BNB on account of the Boba network.

Investors and Blockchain Developers Praise the Addition of Boba Network

Thus far, the Boba network addition is seen as a positive development with the BNB network. It is viewed as a positive rollup that can aid the scalability of Binance and grant leverage to the off-chain computation capabilities.

Additionally, the Boba network can also play an important role in lowering network congestion, reducing transaction fees, and making BNB faster than its counterparts.

The main reason for all the clout around the Boba network is that it is one of the first Layer-2 solutions on the BNB network. BNB chain has managed to host around $5.7 billion worth of digital assets and its host’s numerous DeFi protocols.

These days there is a lot of discussion around layer-2 solutions. Most blockchain networks that wish to maintain their immutability and preserve their decentralized status are opting for them.

Also Read:  Ether Network Added More Than 70K New Addresses Before the Implementation of Ethereum Merge

The parent company of Boba network, Enya, has claimed that it has been working intending to compete against market leaders such as Optimism and Arbiturm.

On the other hand, the BNB chain adopted a personalized Layer- 2 solution based on Zk-rollups called zkBNB inspired by Zero Knowledge technology. Another noteworthy Layer-2 solution on the BNB chain is the Autobahn network.

Boba network reverted to BNB after getting turned down by the Ethereum blockchain. It is already working with three major blockchains, namely Avalanche, Moonbeam, and Fantom.


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