Connect with us

Arbitrum

Boba Network Partners With Avalanche, Boba AVAX L2 To Provide ‘Faster Transactions And Lower Fees’

Published

on

Boba Network Partners With Avalanche, Boba AVAX L2 To Provide ‘Faster Transactions And Lower Fees’

On Wednesday, the layer two scaling solution that leverages optimistic rollup technology, Boba Network has revealed it now supports the proof-of-stake (PoS) network Avalanche. According to the Boba Network team, the new Avalanche support will produce “faster transactions and lower fees.”

Boba Network Integrates With the Avalanche PoS Blockchain

Boba Network, the layer two (L2) scaling project introduced Boba AVAX L2 on Wednesday via the team’s Twitter account. “We’re over the slopes to announce our partnership as an official scaling solution for Avalanche,” Boba said. “Avalanche offers blazing fast speeds, low costs, and eco-friendly solutions: Boba AVAX L2 holds true to those values and enhances it further.”

Boba is already connected with the Ethereum (ETH) network and at the time of writing, l2fees.info stats show Boba’s fee to move ether today is $0.17, and to swap tokens the estimated price is $0.30. That is cheaper than the current 34 gwei ($0.96) to send ether onchain, according to etherscan.io’s gas tracking tool. A high-priority decentralized exchange (dex) swap can cost $8.47 per transaction onchain, so Boba’s $0.30 cost to swap, is 96.45% cheaper.

Advertisement

“Faster transactions, lower fees: Boba AVAX L2 is catered for all heavy transactions, throughput-reliant protocols [and] anyone wanting to be part of the next generation,” Boba further declared on Wednesday. The team further explained it is joining partner decentralized applications (dapps) like Sushiswap and Evoverses with the new support. Boba added:

While Sushi will be deploying their Legacy Swap on Boba AVAX L2, Evoverses’ will be joining with their 3D PvP gameplay, powered by the Unreal Engine 5 [and] Hybrid Compute to help the game scale and reach its full potential.

L2 projects like Boba Network have been partnering with a great deal of industry heavyweights and blockchain networks in recent times. Opensea recently detailed the leading NFT marketplace has added Arbitrum support and the NFT market competitor Rarible revealed Immutable X support. Arbitrum, Immutable X, and Boba Network are all L2 projects and other competitors include Loopring, Zksync, Optimism, Metis, Polygon Hermez, and Aztec.

Tags in this story

Arbitrum, Avalanche, Avalanche Blockchain, AVAX, AVAX blockchain, Aztec, Blockchain, Boba, boba network, etherscan.io, Evoverses, Immutable X, L2 fees, L2 Solutions, l2fees.info, Layer two, layer two fees, layer two technology, Loopring, Metis, Optimism, Polygon Hermez, PoS, Sushiswap, technology, Zksync

What do you think about Boba Network adding Avalanche support? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Advertisement
Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement

Arbitrum

Arbswap Launches The Nova Accelerator To Support Arbitrum’s Ecosystem Growth

Published

on

By

Arbswap Launches The Nova Accelerator To Support Arbitrum’s Ecosystem Growth

press release

PRESS RELEASE. Arbswap, the Arbitrum-native automated market maker decentralized exchange, has seen significant progress over the past months. Following the migration of its contracts to the Arbitrum Nova network, Arbswap has recently launched the Nova Accelerator with support from Old Fashion Research, a multi-strategy blockchain investment fund. By establishing the Accelerator, Arbswap has set out to support the growth of Arbitrum Nova’s ecosystem through investments and advisory services for projects building on the platform. According to Arbswap, the Nova Accelerator aims to invest $10 million in the Arbitrum Nova ecosystem.

About Arbswap and Arbitrum Nova

Arbitrum Nova is an Arbitrum Layer-2 scaling solution that optimizes ultra-low-cost transactions while offering strong security guarantees. Being the first Arbitrum chain built on its AnyTrust technology, Arbitrum Nova is meant to serve applications that handle high volumes of price-sensitive transactions, such as gaming, social and decentralized exchanges.

Advertisement

As a decentralized exchange, Arbswap aims to offer maximum security and affordability to users swapping tokens on its DEX. Arbitrum Nova boasts high security and low transaction costs even at high volumes, so Arbswap’s swift decision to migrate to Nova is sure to serve as a significant first mover advantage over other exchanges with “high” transaction costs of the Arbitrum One chain. Furthermore, the various DeFi tools offered by Arbswap, such as liquidity mining, staking pools, and Dasher, a launchpad product that bootstraps new Arbitrum Nova projects through vested token sales, make Arbswap a very attractive DEX for various market participants.

Combined with Dasher, the Nova Accelerator has allowed Arbswap to position itself as a powerful force in the Arbitrum universe, offering projects building on Arbitrum Nova a way to finance and launch their products through the Arbswap ecosystem.

For all Arbswap-related updates, make sure to follow their social media channels:

Website | Twitter | Telegram | Announcements

Name: Stag Arbswap

Advertisement

Email: [email protected]


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Media

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on [email protected] to talk about press releases, sponsored posts, podcasts and other options.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Advertisement

Continue Reading

Altcoins

Assessing Optimism’s performance before and after ‘Optimism Quests’

Published

on

Assessing Optimism’s performance before and after ‘Optimism Quests’

For improved accessibility of its scaling solutions, Optimism on 20 September launched the “Optimism Quests.” Put simply, the initiative is to reward Optimism users with NFTs when they learn about popular applications deployed on the Layer 2 scaling solution and complete the quizzes and tasks that follow. 

A day after the launch of Optimism Quests, a surge in daily transactions on the network led to a 53% uptick in daily transactions on Optimism.

According to data from Nansen, the count for everyday transactions on Optimism on 21 September was 348,109. This represented the second-highest daily transactions count on Optimism so far this year.

The L2 scaling solution had, on 1 June, logged a daily transactions count of 487,814 transactions when it announced the airdrop of its native OP tokens. 

Advertisement

Source: Nansen

Optimism so far this month

According to data from Dune Analytics, four million transactions have been completed on Optimism in the last 25 days. The current transactions count represents a 7% decline from the total 4.3 million transactions registered by Optimism in August. 

With four days left till the close of the trading month and the sudden surge in daily transactions on the platform in the last few days, one might expect September’s transactions count to exceed that of August.

Source: Dune Analytics

The total number of addresses that have engaged the use of the L2 scaling solution so far this month stood at 180,200. The daily highest so far was on 23 September (49,400 addresses).

Advertisement

In August, the total number of active addresses on Optimism was 188,400. As a result of its botched airdrop in June, active addresses on the network in the 30-day period totaled 331,800. It has, however, fallen consistently ever since.

Source: Dune Analytics

The total fees paid to process transactions on the network is at the lowest it has been in five months. So far this month, Optimism has recorded a total transaction fee of 300.96 ETH. In May total fees paid to use the network was 1,700 ETH, as per data from Dune Analytics.

In addition to a fall in transaction fees on the network, the count of smart contracts deployed on Optimism since the beginning of the month was 15,940. Thus, representing a 273% decline from the 59,540 smart contracts deployed in June.

Source: Dune Analytics

Advertisement

According to data from DefiLlama, Arbitrum remains the largest L2 scaling solution with a total value locked (TVL) of $985.77 million. Optimism comes in second place with a TVL of $842.59 million.

Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience. With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.

Advertisement

Advertisement
Continue Reading

Altcoins

Arbitrum: Here’s what could be the key to Ethereum L2’s organic growth

Published

on

Arbitrum: Here’s what could be the key to Ethereum L2’s organic growth

Ethereum L2s have experienced a resurgence after overcoming past bottoms. Arbitrum is heading this charge after the launch of the Nitro upgrade in September despite a hacking scare.

Fixing the last piece here

Arbitrum managed to possess the largest market share of TVL among L2s. According to l2beat.com, Arbitrum held over $2.50 billion in TVL with a 52.58% market share among other major L2s. The closest competitor stands to be Optimism with $1.55 billion locked in at a 29.05% market share.

Well, Arbitrum has witnessed consistent growth in its total value locked (TVL) since July. From a TVL at $601.72 million, Arbitrum has managed to progress to 935.29 million at press time.

Also, Arbitrum’s daily transaction chart too reiterated a bullish picture. According to the latest data, transaction count reached just under the 270k mark on Arbitrum.

Advertisement

What happens to be more surprising is that Arbitrum does not even have a native token, unlike other competitors. But this might just change now as Arbitrum’s $ARB token is expected to launch soon. 

Arbitrum’s $ARB token is expected to launch soon.

According to a research report by Bernstein published on 21st September. And with that said the early user airdrop is imminent…

🧵So here is an updated thread on:

• Updates
• 6 popular dApps to interact with and strategy.

— Airdrop Official🍥 (@its_airdrop) September 25, 2022

Advertisement

In fact, Arbitrum had the strongest user and transaction momentum among the leading blockchains, Bernstein (a wealth management firm)  said in a research report, and with that it stated, “the early user airdrop is imminent…”

Could the drop of a token help the platform? Well, it could, given the past especially, when Arbitrum’s Nitro launch was a success. Daily transactions surged to new all-time highs (breaking their September 2021 and July 2022 records and clocking in 318,777 transactions).

Meanwhile, on 20 September, OpenSea, a leading Web3 marketplace lent support to Arbitrum. A huge range of NFTs, such as dopex, smolverse, and Gmex blueberry club would be available for OpenSea users.

With this development, Arbitrum would get exposed to a large user base that OpenSea possessed. Ergo, helping with Arbitrum’s growth.

At present, Arbitrum does not have a native token. However, market participants may pursue two avenues to gain exposure to the network’s growth, GMX and Dopex.

Advertisement

Shubham is a full-time journalist/ Crypto data analyst at AMBCrypto. A Master’s graduate in Accounting and Finance, Shubham’s writings mainly focus on the cryptocurrency sector with particular emphasis on market research studies and communications for>2 years. Also, a die-hard Chelsea fan #KTBFFH.

Advertisement

Continue Reading

Top posts

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations
1 million BTC3 hours ago

Sleuth Discovers Satoshi’s Long-Lost Bitcoin Version 0.1 Codebase, Raw Code Contains Bitcoin Inventor’s Never-Before-Seen Personal Notations

On October 7, 2022, a bitcoin supporter named Jim Blasko explained that he discovered the oldest upload of Bitcoin’s version...

Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History
Alex Mashinsky8 hours ago

Bankruptcy Court Publishes 14,000 Pages Of Celsius Customer Usernames And Trade History

The crypto community is upset about a recent discovery stemming from the Celsius bankruptcy case as a court filing has...

Chiliz [CHZ] on-chain metrics to consider before going long this week Chiliz [CHZ] on-chain metrics to consider before going long this week
Altcoins10 hours ago

Chiliz [CHZ] on-chain metrics to consider before going long this week

CHZ is among the cryptocurrencies that have delivered the most gains recovering from June lows. It just concluded a 25%...

EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation
annexation10 hours ago

EU Bans Crypto Services For Russians In New Sanctions Over Ukraine Escalation

An array of crypto-related services have been targeted in the latest round of sanctions on Russia approved by the EU....

The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects. The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects.
Uncategorized10 hours ago

The Hideaways Confirms Another Price Rise! Will Dogecoin Explode In 2023? Will LUNA Explode In 2023? We Take A Look At All 3 Projects.

The weekend was good so far for Dogecoin (DOGE) holders as DOGE price surged to make a new weekly high....

Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors
Terra10 hours ago

Why This Coin Is Still Attracting Terra (LUNA) And LUNA Classic (LUNC) Investors

Over the last few weeks, the performance of the Terra (LUNA) and LUNA Classic (LUNC) coins has been very volatile....

Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More
Bitgert11 hours ago

Will This Coin Be The Ethereum (ETH) And Ripple (XRP) Killer? Read More

If you have been around the crypto market for a while now, you must have come across Bitgert (BRISE). The...

Artificial Intelligence Market Size To Reach US$407 Billion By 2027 Artificial Intelligence Market Size To Reach US$407 Billion By 2027
Latest News11 hours ago

Artificial Intelligence Market Size To Reach US$407 Billion By 2027

The artificial intelligence market size is driven by big data, cloud applications, and services Artificial Intelligence is inarguably the most...

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes
Bankruptcy11 hours ago

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes

Court filing ‘doxing’ Celsius users draws questions on KYC, bankruptcy processes Samuel Wan · 26 seconds ago · 2 min...

Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop
Uncategorized11 hours ago

Best New Crypto To Invest In? The Hideaways Up 450% And Going Strong As LUNA And LUNC Drop

LUNA and LUNC’s prices surged again recently, creating new weekly highs before the market experienced a pullback. Investors have been...

Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up
rates11 hours ago

Mortgage Interest Rates Today, October 7, 2022 | Rates Go Up

Advertiser Disclosure Jason Stauffer Jason Stauffer Staff WriterAdvertisement Jason Stauffer is a personal finance reporter who previously covered the housing...

Binance resumes BSC bridge operation after 2M BNB exploit Binance resumes BSC bridge operation after 2M BNB exploit
Exchanges12 hours ago

Binance resumes BSC bridge operation after 2M BNB exploit

Binance resumes BSC bridge operation after 2M BNB exploit Christian Nwobodo · 41 mins ago · 2 min read The...

Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog
ban12 hours ago

Crypto Exchange Okx Blocked By Russia’s Telecom Watchdog

Russian media and communications regulator, Roskomnadzor, has restricted access to the website of a major cryptocurrency exchange, Okx. The trading...

Grifters rug over 60 ETH from spoof token created after Binance exploit Grifters rug over 60 ETH from spoof token created after Binance exploit
Binance13 hours ago

Grifters rug over 60 ETH from spoof token created after Binance exploit

Grifters rug over 60 ETH from spoof token created after Binance exploit Oluwapelumi Adejumo · 3 hours ago · 2...

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000 CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000
Featured14 hours ago

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000

CryptoSlate Daily wMarket Update – Oct. 6: Market turns red as BTC dips below $20,000 Monika Ghosh · 3 hours...

Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience
Best Practices14 hours ago

Scammers Are Targeting Cryptocurrency Scam Sites To Hijack Their Targeted Audience

Cryptocurrency scam sites are being targeted by other scammers to hijack their traffic and their possible earnings. A recently detected...

Fully funded Chevening Clore Leadership Scholarship 2023/2 Fully funded Chevening Clore Leadership Scholarship 2023/2
Scholarships14 hours ago

Fully funded Chevening Clore Leadership Scholarship 2023/2

A Fully funded Chevening Clore Leadership Scholarship 2023 is currently ongoing for qualified international students. This scholarship programme is aimed...

Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’ Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’
bitcoin etf16 hours ago

Fidelity Launches Ethereum Index Fund — Sees Client ‘Demand For Exposure To Digital Assets Beyond BTC’

A filing with the U.S. Securities and Exchange Commission has shown that Fidelity looks to launch an investment product known...

Trending

Free Bitcoin MiningEarn from $50 to $75 daily with just your phone