BobaBeam: Boba Network Launches First Layer-2 on Moonbeam – CoinJournal

Palo Alto, CA, 12th October, 2022, Chainwire

Boba Network, the first multichain Layer-2 blockchain and Hybrid Compute platform, deployed its execution layer on Moonbeam to become the first Layer-2 live on Moonbeam. The Moonbeam deployment features Firefly, a DEX and perpetual swap platform as a launch partner dApp.

Boba is the first Layer-2 platform launching on Moonbeam. The new Boba-Moonbeam-enabled environment is called BobaBeam. Moonbeam is a smart contract platform designed for the development of cross-chain interoperable applications  on Ethereum, Cosmos, Polkadot, and additional smart contract platforms.

BobaBeam will host Firefly, a Moonbeam-native derivatives DEX. Firefly chose to launch on the BobaBeam Layer-2 network to secure its scalability needs, due to the large demand for block space and transaction throughput of such a platform. In a recent 4-day testing period on testnet, Firefly saw 86,635 unique wallets from over 121 countries and 818,031 trades – 136/minute.

Hybrid Compute