Enya, a major creator of decentralized infrastructure solutions, has finally launched its highly anticipated mainnet beta of Boba Network.
The new mainnet beta of Boba Network from Enya is tipped to be the next-gen solution for dApps developers. The Ethereum Layer 2 Optimistic Rollup scaling will make it possible for dApps developers to be able to scale and give a better user experience.
More precisely, the newly launched network reduces gas fees and enhances transaction throughput on the platform. It also extends smart contract capabilities.
The mainnet beta of Boba Network generally functions by aggregating transaction volumes while taking compatibility with the Ethereum network into consideration.
Boba is expected to give affordability to DeFi and NFT apps on the Ethereum system that are at the moment cost-prohibitive.
More Info on the Mainnet Beta of Boba Network
With this, Enya’s latest blockchain-empowered Boba Network is outstanding among the arrays of solutions present on the Ethereum Layer 2. Its uniqueness is due to its features, such as “streamlined exit of crypto assets from Boba to Ethereum, extensible smart contracts, and, soon, decentralized autonomous organization (DAO) governance.”
As part of its user-friendly framework, Boba makes available fast exits that are backed by community-driven liquidity pools. This alone reduces the period of withdrawal from the normal seven-day time frame to just a few minutes.
It is worthy to add that the Boba NFT Bridge makes tokenized collectibles (NFTs) to be created on it in a very cost-effective manner. The bridge also allows NFTs to move to the Ethereum mainchain if necessary. Ethereum is the home of high quality NFT projects, but the high gas costs have made it a playground for the richest users.
Boba, however, has brought some notable changes as it makes for the possibility of using NFTs for micro-transactions, which are vital in gaming. Thus, Boba allows for the decentralization and security of Ethereum while simultaneously enjoying low gas costs and fast transaction times.
Per the capabilities of the Ethereum system, Boba facilitates the efforts of developers to create smart contacts that launch running on web-scale infrastructure such as AWS Lambda. Given this, developers can leverage advanced algorithms that are slow, impossible to execute on-chain, not cost-effective, or just too expensive.
Additionally, the Boba DAO provides a framework for decentralized governance. The community is encouraged to vote for proposed improvements. Such voting takes place on the network itself.
Enya’s Plans for the Blockchain Industry
Enya’s founder and CEO, Alan Chiu, says, “We welcome the entire DeFi and NFT developer community to build on Boba, so that together we deliver a faster, cheaper, and more delightful experience to the next billion users of Ethereum.”
Chiu also reiterates the firm’s passionate vision, which is about building “a more inclusive decentralized ecosystem.”
He says that the Boba Network is following through on this vision by “reducing barriers to adoption for users and developers. The launch of Boba’s mainnet beta today brings us one step closer to realizing that dream.”
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