BobaBNB sets a new record of over 3 million transactions in May, fueled by the growth of the ROVI Network
We covered BobaBNB last month after the startup set a new record with 2.8 million transactions processed, surpassing 45,000 wallets. Now the startup has just broken its previous record and achieved a new significant milestone.
Today, Boba Network, the only multichain Layer 2 (L2) solution operating on the BNB Chain, announced its BobaBNB platform set a new transaction with an all-time high number of transactions recorded in the month of May. With a staggering 3,073,042 transactions processed, Boba Network surpassed the previous month’s figure of 2,863,240 and significantly exceeded the 585,818 transactions in March.
During the same month, BobaBNB also garnered a substantial user base, with over 80,000 individual wallets on the network. As a result, the platform now facilitates an average of 220,000 transactions per day. This significant increase in transaction volume highlights the growing popularity and adoption of Boba Network’s L2 solution.
The remarkable surge in transaction growth on BobaBNB, a layer-2 scaling solution for the BNB Chain, can be largely attributed to the immense popularity of ROVI Network. ROVI, a Web3 infrastructure protocol, has quickly become the top dApp on the network within just six weeks of its launch. With an astonishing 50,000+ wallets and an impressive monthly transaction rate exceeding 3 million, ROVI Network is driving substantial activity on BobaBNB.
ROVI Network’s success on BobaBNB can also be attributed to its mission of simplifying crypto adoption through a suite of interconnected products. The flagship product, the M91 Crypto Super App, offers a user-friendly peer-to-peer crypto payments experience, often likened to WeChat Pay for crypto. Additionally, ROVI provides Keyboard91, an AI Smart Keyboard app that rewards users with crypto for typing messages, and Gaming91, a crypto-based fantasy/skills/prediction game powered by smart contracts.
Beyond these user-facing products, ROVI Network has also developed critical infrastructure to onboard billions of users to Web3. This includes secure, keyless wallets based on Multi-Party Computation, gas-less transactions, and convenient one-click on- and off-ramps between crypto and fiat currencies.
BobaBNB serves as an ideal platform for mass adoption dApps like ROVI Network due to its ability to significantly reduce gas fees by an average of 80% and process transactions almost in real time. It is noteworthy that BobaBNB is the first layer-2 solution outside of the Ethereum ecosystem to generate such substantial transaction volumes.
Another factor contributing to the increased transaction volume on BobaBNB is the popular multiplayer Web3 city builder game, MegaWorld. This engaging game incorporates real economics powered by smart contracts, further driving activity and transactions on the platform.
The combination of ROVI Network’s user-friendly products and the captivating MegaWorld game has fueled the rapid growth of transactions on BobaBNB, solidifying its position as a leading layer-2 scaling solution for the BNB Chain.
“Boba core contributors are thrilled to see such impressive traction on BobaBNB,” said a core contributor to the Boba Network. “Boba Network deployed a multichain strategy last year and is the only multichain L2 to this point. Each transaction brings revenue to the network, and Boba Network will continue to support efforts to build out the BobaBNB ecosystem.”
BobaBNB’s achievement highlights the growing interest among Web3 developers to leverage the capabilities of BobaBNB in building advanced decentralized applications (dApps) and games, capitalizing on the strengths of the BNB Chain. By utilizing Boba Network’s infrastructure, developers can benefit from accelerated transaction processing and reduced fees, enhancing the overall performance and user experience of their applications.
Furthermore, BobaBNB provides an innovative feature called Hybrid Compute technology, enabling smart contracts to tap into real-world data and off-chain computing resources. This capability empowers dApps built on BobaBNB to deliver richer and unparalleled experiences to their users, setting them apart from other platforms.
With its transaction processing efficiency, lower fees, and advanced functionalities, BobaBNB is becoming an attractive choice for developers seeking to create more robust and feature-rich dApps. The platform’s commitment to enhancing the core capabilities of the BNB Chain further solidifies its position as a valuable resource for Web3 developers aiming to push the boundaries of decentralized application development.
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.