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Boba Network partners with Avalanche, Boba AVAX L2 to provide ‘faster transactions and lower fees’ – Blockchain Bitcoin News
On Wednesday, its layer two scaling solution leveraging optimistic rollup technology, Boba Network revealed that it now supports the proof-of-stake (PoS) network Avalanche. According to the Boba Network team, the new Avalanche support will provide “faster transactions and lower fees.”
Boba Network integrates with Avalanche PoS Blockchain
The Boba Network, layer two (L2) scaling project introduced the Boba AVAX L2 on Wednesday via the team’s Twitter account. “We are thrilled to announce our partnership as an official scaling solution for Avalanche,” said Boba. “Avalanche offers lightning-fast speeds, low costs and environmentally friendly solutions: Boba AVAX L2 adheres to these values and improves it even further.”
Boba is already connected to the Ethereum (ETH) network, and at the time of writing, l2fees.info statistics show that Boba’s fee for moving ether today is $0.17, and for exchanging tokens, the estimated price is $0.30. That’s cheaper than today’s 34 gwei ($0.96) to send ether on-chain, according to etherscan.io’s gas tracking tool. A high priority decentralized exchange (dex) can cost $8.47 per on-chain transaction, so Boba’s $0.30 cost to exchange is 96.45% cheaper.
“Faster transactions, lower fees: Boba AVAX L2 is taken care of for all heavy transactions, throughput-dependent protocols [and] everyone who wants to be part of the next generation,” continued Boba declared on Wednesday. The team further explained that they are joining partner decentralized applications (dapps) such as Sushiswap and Evoverses with the new support. Boba added:
While Sushi will deploy Legacy Swap on Boba AVAX L2, Evoverses will join with their 3D PvP game, powered by Unreal Engine 5 [and] Hybrid Compute to help the game scale and reach its full potential.
L2 projects such as Boba Network have partnered with many industry heavyweights and blockchain networks in recent times. Opensea recently shared that the leading NFT marketplace has added Arbitrum support and NFT market competitor Rarible revealed Immutable X support. Arbitrum, Immutable X and Boba Network are all L2 projects and other competitors include Loopring, Zksync, Optimism, Metis, Polygon Hermez and Aztec.
What do you think about Boba Network adding Avalanche support? Let us know what you think about this topic in the comments section below.
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