Boba Network To Support Fantom
Boba Network to support Fantom a fast, high-throughput open-source smart contract platform for digital assets and dApps. Fantom’s aBFT consensus protocol delivers unparalleled speed, security, and reliability.
Unlike traditional Layer-2 providers that only work on Ethereum L1, the Boba Network solution uniquely provides performance and scalability across chains to support dApps and the emerging Web3 ecosystems that connect them.
But Boba Network offers much more than multi-chain Layer-2 functionality. Boba’s advanced tooling includes its Hybrid Compute protocol that leverages smart contracts to connect decentralized networks to Web2 APIs.
Furthermore, using Hybrid Compute, Web3 developers can now access Web2 computation and data sources like machine learning and artificial intelligence systems, advanced financial modeling tools, state-of-the-art gaming engines, or social media integrations. This connectivity promises to unlock innumerable use cases and applications formerly considered too expensive, slow or demanding to execute on-chain.
What does Boba Network do?
The blockchains that Boba Network supports also benefit from its NFT bridging feature that enables easy transfer of NFTs between Layer-1 and Layer-2 blockchains. Bridges like Boba’s enhance the accessibility of NFTs and will be key to the continued growth of NFTs as an asset class.
“Making Hybrid Compute available to more developers is a critical milestone as we pursue a future where Web3 is truly interoperable with Web2, and Boba is the best place to facilitate that.” ‒ Alan Chiu, Founder and CEO, Boba Network
Following extensive recent upgrades, Boba Networks now accepts both ETH and the platform-native BOBA token for gas fees. This change makes Boba Networks the first Layer-2 to enable a dual token fee option. On Fantom as on other Layer-1s, gas fees on the Boba Network can be paid in BOBA or ETH. While settlement layer fees will be paid in the L1’s native currency.
“We’re delighted to integrate Boba Network as a scaling protocol and look forward to seeing our developers benefit from its innovative features and functionality. The integration will help bring increased scalability to Fantom and deliver the resources developers need to design creative, large-scale dApps.” ‒ Michael Kong, CEO, Fantom
ABOUT Boba Network
Boba Network is a blockchain Layer-2 scaling solution and hybrid compute platform offering lightning-fast transactions and fees up to 60x less than Ethereum.
ABOUT Fantom
Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. On Fantom, transactions confirmation is about 1 second and costs just a few cents. Additionally, speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world use-cases.
RESOURCES
Fantom Foundation
