Home Finance News OMG Network Leveling up by Aggregating Transaction Volumes with Boba Layer 2 Scaling Solution

OMG Network Leveling up by Aggregating Transaction Volumes with Boba Layer 2 Scaling Solution

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Ethereum came up with the first decentralized computing platform, which makes it possible for the proliferation of Defi and NFT projects. However, the limited computing capacity of the Ethereum Network became an obstacle to its growth.

Enya is a leading developer of decentralized infrastructure solutions designed for the next billion users, with its launch of the mainnet beta of Boba Network.  The focus of the Boba network as the next-generation Ethereum Layer 2 Optimistic Rollup scaling solution is to reduce gas fees, improve transaction throughput, and extend the capabilities of smart contracts.

Enya is focused on creating a world where everyone in the community can participate and benefit from the growth of decentralized blockchain networks with the Boba Ecosystem.

OMG Network is Now OMG Foundation.  Boba network is the core contributor of OMG Foundation.  Enya is building Boba Network.

Enya is working with design goals to establish a healthy, sustainable, incentivized, flat, accessible, understandable, robust, and open ecosystem, providing for a low-cost, scalable,

and easy-to-use L2 so the next generation of users can be accommodated. In addition, it makes powerful new capabilities for developers to augment smart contracts using sophisticated algorithms.

Boba stands out among other Ethereum Layer 2 solutions because it has streamlined the exit of crypto assets from Boba to Ethereum.  It makes use of extensible smart contracts.  Very soon, they are going to facilitate decentralized autonomous organization (DAO) governance.

This solution provides the best of both worlds.  The security and decentralization are rooted in Ethereum without compromising a multisig bridge wallet.  However, the plus is they can facilitate low transaction costs and fast execution.

Enya has just started.  They are continuing to focus on helping to scale and augment the core functionality with a rich universe of capabilities, which have been created by the developer community.

Scalability will continue to be a challenge for any computing platform.  There is going to be an ever-growing demand for faster CPUs. With time, computers will evolve from being a general-purpose CPU, which does all the work through having a constellation of co-processors. Each of them will specialize in a more focused set of operations, which could be performed more efficiently.

Users and developers are going to need more, and Enya is working to provide it.  They are looking forward to working with the rest of the Ethereum community to rise to the challenge.

 

 

 

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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