Boba expands interoperability, multichain features with Avalanche integration

abdelaziz Fathi

Boba Network, a multi-chain scaling solution and Hybrid Compute platform, today announced its expansion to become the first Layer-2 scaling solution to launch on Avalanche.

Boba’s expansion moves it beyond the scope of a traditional Layer-2 and reinforces its preeminent status for scaling blockchain networks. Combining its mass-level performance scalability with Avalanche’s additional features offers developers smarter tools to build more dynamic dApps.

As a Layer-2’s solution, Boba typically prioritizes cost and throughput performance, which ultimately provides Avalanche developers with another low fee environment for feature-rich applications. They will be also able to access Hybrid Compute, Boba’s flagship multi-purpose pipe which directly connects decentralized computers to Web2 APIs via smart contracts.

Chief among Hybrid Compute’s benefits is enabling novel use cases that are far too expensive, slow, or otherwise practically impossible to execute on-chain. In practice, Hybrid Compute makes it easy for dApp developers to incorporate machine learning and AI systems, financial modeling tools, gaming engines, and social media integrations.

In addition, Boba and Avalanche have committed to leveraging the power of real-world data and off-chain compute to diversify its respective offerings and attract new liquidity. The deployment will also help Avalanche projects to take advantage of Boba’s native NFT bridge, allowing smooth transfer of NFTs between L1 and L2.

Alan Chiu, Founder of Enya Labs, the core contributor to Boba Network, said: “We’re excited to become the first multichain L2 on Avalanche. This partnership enables Avalanche  to support even more users and transactions, and empowers Avalanche developers to build dApps that connect with off-chain APIs. Boba is now synonymous with Layer-1 scaling that’s available when and where it’s needed.”

Launched in 2020, Avalanche aims to deliver a scalable blockchain solution while maintaining decentralization and security. With Avalanche, users can create an unlimited number of customized and interoperable blockchains.

Scaling has become one of the most interesting conversations as blockchain networks seek to match the millions of new users entering the space. Avalanche takes a unique approach to this with subnets, diverting away traffic that would otherwise congest its main chain.

EvoVerses, a popular play-to-earn game powered by the Unreal Engine 5, was the first beneficiary of the Avalanche integration and will feature on Boba Network as a launch partner dApp.

The alliance will also offer an additional value to Sushi, one of the biggest providers of DeFi tools like Sushi Swap, which is also deploying its Legacy Swap on the Boba Network L2 on Avalanche.

Luigi D’Onorio DeMeo, Head of DeFi at Ava Labs, comments, “By deploying to additional chains, Boba breaks fresh ground and brings Avalanche its very first L2 Equipping our talented developers with yet another way to make dApps cheap, fast, and scalable will only benefit users. We’re excited to see how this integration evolves and where the story of Avalanche L2s leads.”

“Finding Boba was like finding that secret ingredient for your favorite meal: the perfect combination, the perfect addition. Boba offers us the scalability, security, and fast transactions that we were looking for to scale a real game into the crypto space without sacrificing anything for that and making sure the transaction fees are really low which is a must in any crypto game! EvoVerses is excited about this partnership and everything that will grow from here!” said Alevo, founder at EvoVerses.

 

 

Read this next

Digital Assets

INX combines SEC-registered security tokens and cryptos in one platform

“By bringing together our security token trading platform with our cryptocurrency trading platform and primary offering services, INX is pioneering a new era of digital asset investing for both primary and secondary markets that benefits everyone – not just a select few.”

Industry News

Bitso launches QR code payments for crypto in Argentina

“This is an especially important product offering for Argentina as it provides users protection from the adverse economic factors such as inflation and currency devaluation.”

Institutional FX

CLS FX volume continues downward trend in August

Total daily traded volume submitted to CLS for settlement took yet another step back in August.

Digital Assets

Huobi taps AstroPay to facilitate fiat-to-crypto payment in Latin America

Huobi, the world’s sixth-largest crypto exchange by trading volume, has recently partnered with payment solution provider AstroPay to launch local currency account deposits and withdrawals in Latin America.

Digital Assets

Crypto exchange FTX to raise $1 billion at flat valuation of $32 billion

FTX is reportedly in discussions with a clutch of heavyweights from traditional finance to raise up to $1 billion in fresh funding to fuel more deal-making.

Digital Assets

Revolut US launches trading on Avalanche, Solana, and Dogecoin

British fintech and banking firm Revolut has further expanded its cryptocurrency offering in the US with the addition of 29 new tokens.

Digital Assets

Bahrain greenlights eazyPay to launch Binance Pay

The Central Bank of Bahrain has blessed a new partnership inked by Binance with Eazy Financial Services ‘eazyPay’, a local POS and online payment service provider. The greenlight enables EazyPayto to launch Bitcoin and cryptocurrency payments in the region.

Digital Assets

Coinbase approved to offer crypto for Dutch users

Nasdaq-listed crypto exchange operator Coinbase has been handed regulatory approval to operate as a crypto service provider in the Netherlands.

Metaverse Gaming NFT

AC Milan partners with Solana-based NFT football game MonkeyLeague

“Partnering with champions like AC Milan, an absolute iconic Club throughout footballs history, is another testament to what we are building and where we are headed as a game and game studio. It also represents a key step in our plans to bridge the Web2 and Web3 worlds.”

<