The Block: Layer 2 solution Boba Network integrates with BNB Chain

Blockchain development firm Enya said it has released a Layer 2 scaling solution called Boba Network on BNB Chain, aiming to scale applications on the network.

SushiSwap, one of the largest decentralized exchanges, will launch on the BNB Chain version of Boba Network as a launch partner.

Boba is an Optimistic Rollup, a scaling solution that leverages off-chain computation to make transactions cheaper and faster on any given blockchain.

Boba will be one of the first Layer 2 solutions to hit BNB Chain, which hosts more than $5.7 billion in crypto assets across tens of decentralized finance (DeFi) apps.

Enya created Boba last year to compete with other Layer 2 scaling solutions such as Optimism and Arbitrum. In April, Boba raised $45 million in a series A round that gave it a $1.5 billion valuation.

In September, BNB Chain also announced its own Layer 2 scaling technology based on ZK-Rollups called zkBNB, but that’s still in the test phase. The blockchain is home to another Layer 2 called Autobahn Network .

While Boba initially targeted Ethereum, the team expanded the offering to multiple chains, with BNB Chain being the latest after having already launched on three other blockchains, including Fantom, Avalanche , and Moonbeam.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.