Boba Network Transaction Volume Reaches New ATH, Thanks to Rovi Network

Key Takeaways

• Boba Network’s BobaBNB processed over 3 million transactions in May.
• The L2 network transaction attributed its increased adoption to Rovi Network.
• Rovi wants to onboard the next billion users to web3.

Boba Network’s BobaBNB, a Layer 2 (L2) solution on BNB Chain, processed over 3 million transactions in May—a new all-time high for the network.

The processed transaction is considerably higher than the 2.8 million recorded in April, and the 585,818 recorded in March.

In May, the BNB Chain L2 solution onboarded over 80,000 new wallets and facilitated a daily average of roughly 220,000 transactions.

Per a press statement shared with CoinCodex, Boba Network attributed its increased adoption to Rovi Network, a Web3 protocol designed to expand the crypto ecosystem.

Another factor contributing to BobaBNB’s growth is its smart contract-powered Web3 City Builder game, Megaworld.

How Rovi Pushed BobaBNB’s Growth

Though Rovi Network was launched just six weeks ago, the protocol has rapidly grown to become a top decentralized application on the BobaBNB Network. As a result, it now boasts of over 50,000 wallets and 3 million+ monthly transactions.

Rovi has a number of features that has made the protocol attractive to users including its M91 Crypto Super App that offers easy-to-use peer-to-peer crypto payment services, alongside the Keyboard91 app allows crypto holders to type messages.

The protocol’s Gaming91 app is another crypto-based fantasy/skills/prediction game powered by smart contracts.

Additionally, Rovi has built several infrastructures that would aid the onboarding of the next billion users to web3. These infrastructures include Gas-less transactions, and multi-party computation-based secure keyless wallets, amongst others. 

Boba Network Eyes More Adoption for BobaBNB

Commenting on the development, a core Boba contributor expressed their excitement at the “impressive traction” on the platform. According to the contributor, “Boba Network deployed a multichain strategy last year and is the only multichain L2 to this point.”

“Each transaction brings revenue to the network, and Boba Network will continue to support efforts to build out the BobaBNB ecosystem,” the contributor added.

It is worth noting however that the presence of the ROVI Network on BobaBNB is a laudable cause. While it can help users save about 80% on gas fees, it also processes transactions in real-time. This feature is why the BobaBNB remains the first L2 protocol outside the Ethereum ecosystem to generate such transaction volume.

Meanwhile, the transaction record also signifies web3 developers increasing interest to build more advanced dApps and games using BobaBNB. Though built on the BNB Chain, the L2 solution allows developers to scale their EVM-compatible dApps using the network’s enhanced transaction processing capabilities and lower fees.

In addition, dApp developers can also employ the network’s Hybrid Compute technology which enables smart contracts to leverage real-world data, alongside other off-chain computing resources. As a result, this contributes to the rich and unparalleled user experience featured on the apps.

Conclusion

BobaBNB’s remarkable achievement of processing over 3 million transactions in May highlights the growing popularity and adoption of the Layer 2 (L2) solution on BNB Chain. This significant milestone was made possible not only by the network’s advanced transaction processing capabilities and lower fees but also by the strategic partnership with Rovi Network. Rovi’s Web3 protocol has played a crucial role in expanding the crypto ecosystem and attracting a substantial number of users to BobaBNB, evidenced by the rapid growth of over 50,000 wallets and 3 million+ monthly transactions.