💨 Making Blockchain More Efficient

Today's Highlights

• Boba Network - enabling cheaper fees and quicker transactions on blockchain
• Blockchain events - upcoming events in the blockchain/web3 world.
• In Other News - a few interesting developments we're tracking.

Boba Network - enabling cheaper fees and quicker transactions on blockchain

The Boba Network is a layer 2 scaling solution built to maximize blockchain efficiencies by offering cheaper fees and quicker transactions. Layer 2 solutions (L2s) are platforms built on top of native blockchains (such as Ethereum and Cosmos) that aim to remove some of the burden carried by the main chain (such as transactions) reducing the amount of data stored directly in the blockchain. The two most successful types of L2s use models called “rollups,” including optimistic rollups, which batch many transactions together and submit the batches to the main blockchain for finalization. Optimistic rollups assume transactions are valid unless they are challenged, which can then be checked and verified via fraud computations.

The Boba network is a multi-chain solution, meaning it can act as a layer 2 for other blockchains, rather than just Ethereum. It also incorporates off-chain computing, which brings more complex tasks to the blockchain through a technology called Hybrid Compute. Boba’s Hybrid Compute mechanism allows developers to build connections from Web3 systems to Web2 computers. This way, decentralized applications (dapps) can trigger code executed on Web2 infrastructures (like AWS) and leverage algorithms that would otherwise slow down the network due to computing intensity and cost prohibitive to execute on-chain.

This creates an opportunity for Web3 to interact with technologies like artificial intelligence and machine learning, or simply to pull information from existing Web2 data systems. Boba’s developers also see it as an improvement to existing uses of blockchain in domains such as gaming and metaverse building. The BOBA token is used on the Boba Network for platform governance, staking, and payments of gas fees.

Alan Chiu is the founder of Boba Network. Boba Network has raised a total of $45M in funding.

Blockchain Events

In Other News

Payments Giant PayPal to Launch Dollar-Pegged Stablecoin on Ethereum

PayPal is taking another step into the crypto industry, rolling out its very own stablecoin called PayPal USD.Issued by Paxos

Crypto New MediaBitcoin Max

Congress, Not the SEC, Should Set U.S. Digital Asset Policy

The regulator “sees itself as the arbiter of which technologies should exist in the United States,” says Castle Island Ventures’ Matt Walsh.

CoinDeskMatt Walsh

Is waning interest the reason for a drop in NFT thefts?

The number of NFT scams has fallen consistently since February. This is due to the persistent decline in general market

Crypto New MediaBitcoin Max