BobaBNB sets a new record with 2.8 million transactions processed in April, surpassing 45,000 wallets
We covered Boba Network back in April when the Ethereum blockchain startup saw a massive increase in the number of transactions on its BnB Chain network despite the ongoing slowdown in the crypto industry. The company reported an astounding increase of nearly 10,000% in transactions with the addition of about 13,000 wallets since January 2023.
Fast forward a month later, The company has set a new record. Boba Network announced today that its BobaBNB platform processed 2,863,240 transactions in April. This number is a significant increase from 585,818 transactions in March and 99,362 in February. BobaBNB has currently surpassed 45,000 wallets and is processing over 100,000 transactions daily.
These milestones further illustrate the increasing acceptance of BobaBNB, which delivers lightning-fast transaction speeds and saves users and projects an average of 80% on transaction fees. This impressive achievement represents the first time that a significant L2 transaction volume has occurred on a network beyond Ethereum.
“BNB Chain provides a significant opportunity for Boba Network as the only multichain layer 2 as it has more active addresses than any other blockchain,” a core contributor to Boba Network said in a statement. “Boba Network will continue to leverage the continued growth of BNB Chain to provide users and developers with faster transaction speeds at significantly lower costs with the opportunity to utilize HybridCompute™ that delivers off-chain data and compute, enabling smarter applications for mass adoption.”
To date, Boba BNB L2, powered by Boba Network, is the first and only L2 on BNB that allows users and developers to deploy EVM Compliant dApps and benefit from quicker transaction speeds and cheaper costs. Furthermore, BNB Chain developers may use Boba’s Hybrid Compute technology, which brings the power of Web2 on-chain and enables smart contracts to access off-chain computing and real-world data to create improved experiences for decentralized apps.
The notable increase in transaction volume on BobaBNB is credited to the partnership with ROVI Network and the widespread popularity of the Web3 game, MegaWorld. Rovi Network is a Web3 powerhouse whose Crypto Super App platform promises to introduce crypto into the daily lives of billions of people. Since 2018, MegaWorld has been a huge multiplayer Web3 city-building strategy game with a real economy powered by smart contracts.
The surge in activity on BobaBNB can also be attributed in large part to the popular Web3 game MegaWorld, which has been running on smart contracts since 2018 and is a massive multiplayer city-builder strategy game with real economics.
In March, the Boba BNB layer-2 platform recorded an astounding 585,818 transactions, resulting in a total of 12,716 wallet addresses. Its integration with Binance’s BNB Chain presents an exceptional opportunity for Web3 developers to create advanced dApps and games, leveraging the unique features offered by BNB Chain.
As the exclusive and pioneering Layer 2 solution on BNB Chain, Boba BNB L2—powered by Boba Network—enables users and developers to deploy EVM-compatible dApps with accelerated transaction speeds and reduced costs. Moreover, BNB Chain developers can take advantage of Boba’s innovative Hybrid Compute technology, which permits Web2 capabilities to be integrated on-chain, providing smart contracts access to off-chain computing resources and real-world data. Consequently, decentralized applications can deliver unprecedented user experiences.
The core contributors of Boba Network are ecstatic about the increasing adoption of BobaBNB. Last year, the network implemented a multichain strategy, positioning itself as the only multichain L2 provider. Each transaction contributes to the network’s revenue, and Boba Network is committed to supporting initiatives that expand the BobaBNB ecosystem.
Founded in 2017 by Alan Chiu, Boba is a next-generation Ethereum Layer 2 Optimistic Rollup scaling solution that enables users to develop decentralized apps on the Ethereum blockchain with more features and at lower fees and also transfers non-fungible tokens (NFTs) across Ethereum’s different layers.