Boba Network update: BOBA Live price, price chart, news and markets

The BOBA price update as of now is $0.08479. In the previous 24 hours, its trading volume was $9,099,220, and its value has increased by 3.53%. As of now, BOBA's live market cap is $38,439,619, and it is ranked as the #570 on the Coincu. BOBA has a circulating supply of 500,000,000 and a maximum supply of 500,000,000.

The Revolutionary Project: Boba Network (BOBA)

Introducing Boba Network (BOBA), a groundbreaking initiative aimed at addressing the scalability issues faced by the Ethereum Blockchain Layer 2. With the Optimistic Rollup development project set to launch soon, Boba Network aims to provide an optimal solution.

Boba Network offers a key advantage in reducing transaction fees, increasing transaction volume, and enhancing the efficiency of Smart Contracts.

In early 2021, the Ethereum OMG Network (OMG) announced the establishment of Boba Network as the core protocol for their platform. Boba Network promises an exciting user experience with its fundamental features.

Boba allows developers to build dApps on Ethereum by enabling code execution on web infrastructure like AWS Lambda. The platform employs advanced algorithms, although the execution speed is currently limited and challenging to implement on-chain.

Boba Network essentially serves as an open-source compilation of Enya & Boba's research and development work. The platform is designed to be compatible with EVM and Solidity, providing users with easy and optimal manipulation and conversion of Smart Contracts between Layer 1 and Layer 2.

Key Features of Boba Network

• Cheaper Transaction Fees: Boba Network significantly reduces costs compared to Ethereum, which often imposes high gas fees averaging $10-$50 per transaction. Gas prices on L2 change every 30 seconds and typically range around 10 Gwei.
• Faster Withdrawals: Boba Network enables users to transfer funds in and out of the network much faster than traditional Layer 2 solutions, usually taking just a few minutes. Depending on the specific L2 technology and implementation, Boba Network can provide 50 times to over 1,000 times more throughput than Layer 1.
• Seamless NFT Migration: Boba Network allows users to mint, transfer, and sell their NFT assets between L1 and L2, or even between different L2 solutions. This simplifies and streamlines the development of NFTs, especially in the GameFi sector.
• Secure through Ethereum: As a Layer 2 Optimistic Rollup protocol, Boba Network leverages the security provided by Ethereum.
• Scalability for Smart Contracts: Boba Network offers scalability for smart contracts on Ethereum, enabling developers to build DApps using algorithms without incurring significant costs. The platform allows developers to execute code through algorithms on a web-based infrastructure.

The Road Ahead for Boba Network

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