BobaBNB, a layer-2 scaling solution for the BNB chain, processed over 3 million transactions in May 2023, setting a new record. The surge is primarily attributed to ROVI.
ROVI spurs adoption BobaBNB
With more than 3 million transactions processed last month, BobaBNB demonstrated its scalability potential and popularity in crypto.
This milestone represents a significant increase from April’s over 2.8 million transactions and the mere 585k transactions recorded in March 2023. With over 80,000 unique wallets utilizing BobaBNB, the scaling platform now supports an average of 220,000 daily transactions.
This milestone transaction increase is attributed to surging activity on the ROVI Network. Since its launch on BobaBNB weeks ago, ROVI has become the network’s top decentralized application (dapp), drawing over 50,000 unique wallets.
ROVI Network’s growing presence on BobaBNB is expected since its mission is to simplify crypto technology and adoption through interconnected products. The flagship product, the M91 Crypto Super App, provides users with a familiar, user-friendly P2P payment experience similar to WeChat Pay.
Additionally, ROVI offers Keyboard91, an AI Smart Keyboard app that rewards users with crypto for typing messages, and Gaming91, a crypto-based fantasy game powered by smart contracts.
The ROVI Network has also built user-friendly infrastructure such as secure, keyless wallets based on Multi-Party Computation, gas-less transactions, and one-click on- and off-ramps between crypto and fiat, which is critical for onboarding billions of users to Web3.
Boba Network’s multichain infrastructure
Boba Network is an optimistic-based multichain layer-2 scaling solution that leverages roll-up technology. It allows developers to utilize its Hybrid Compute technology to enable smart contracts that leverage real-world data and off-chain computing resources.
BobaBNB provides a platform for solutions like ROVI Network to achieve maximum performance with a focus on mass adoption. This platform reduces transaction costs and offers up to 80% savings on gas fees while ensuring near real-time transaction processing.
Another feature of the BobaBNB network contributing to increased transaction volume is the popularity of the massive web3, city-building multiplayer game, MegaWorld. The game incorporates real economics powered by smart contracts.
This makes BobaBNB the first layer-2 solution outside the Ethereum ecosystem to generate significant transaction volume.
A core contributor to the Boba Network said:
“Boba core contributors are thrilled to see such impressive traction on BobaBNB. Boba Network deployed a multichain strategy last year and is the only multichain L2. Each transaction brings revenue to the network. Boba Network will continue supporting efforts to build the BobaBNB ecosystem.”
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Source: https://crypto.news/bobabnb-a-bnb-chain-layer-2-platform-processes-over-3-million-transactions-in-may/