On Wednesday, Boba Networks, a layer two scaling solution that uses Optimistic encryption technology, announced that it now supports proof-of-stake (PoS) network Avalanche. According to the Boba Networks team, the new Avalanche support will result in “faster transactions and lower fees.”
The Boba Network is integrated with the Avalanche PoS Blockchain
Boba Network, a Layer Two (L2) scale project, Boba AVAX L2 was announced on the group’s Twitter account on Wednesday. “We are excited to announce our partnership with Avalanche’s official expansion solution,” said Boba. “Avalanche offers fast speeds, low costs and environmentally friendly solutions: the Boba AVAX L2 holds true to these values and reinforces them.”
Boba is already connected to the Ethereum (ETH) network and at the time of writing, according to l2fees.info statistics, the Boba fee for moving Boba Ether is $0.17 today and the estimated price for exchanging tokens is $0.30. This is cheaper than the current 34 gwei ($0.96) to send Ether onchain, according to etherscan.io’s gas tracking tool. A high-priority decentralized exchange (DEX) swap can cost $8.47 per transaction onchain, so Boba’s $0.30 swap price is 96.45% cheaper.
“Fast transactions, low fees: Boba AVAX L2 is designed for all serious transactions, with resource-intensive protocols. [and] Anyone who wants to be part of the next generation,” Boba continued announced on Wednesday. The team announced that it has joined the new support for partner decentralized applications (dapps) such as SushiSwap and Evoverse. Boba added:
As Sushi deploys their Legacy Swap on Boba’s AVAX L2, Evoverses’ will join their 3D PvP game powered by Unreal Engine 5. [and] Hybrid computing to help balance the game and reach its full potential.
L2 projects like Boba Network have been partnering with many industry heavyweights and blockchain networks in recent times. Openea recently added support for the leading NFT marketplace Arbitrage and featured support for NFT marketplace competitor Rarible Immutable X. Arbitrum, Immutable X and Boba Network are all L2 projects, while 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 in the comments section below.
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