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Multichain

Multichain

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by Boba Blendor

Chicago, USA - January 27, 2023 | 5 mins read

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Introduction

Ethereum is known as the top blockchain platform for its decentralized applications, popularity and developers building on it. But it's slowly starting to lose ground to alternative smart contract blockchains, which mostly emerged because of the congestion on Ethereum. As the blockchain space matures, different blockchain platforms create their own unique characteristics. The general consensus is that the future of blockchain infrastructure is not dominated by “one” blockchain, but rather multiple blockchains that interact with each other.

Multichain in a nutshell

A multichain infrastructure means that a project is deployed across multiple networks and is able to communicate with one another through cross-chain technology. Allowing assets to flow between different blockchain platforms with the help of smart contracts and special bridges.

Interoperability

As it stands, most blockchains are not designed with the ability to interact with other networks. This results in major inefficiency and limits the users’ freedom to interact with their digital assets. Shifting from a closed blockchain infrastructure to a multichain one, is going to be crucial for the next step in mainstream adoption.

In short, interoperability means different networks and projects can “talk” to each other. This allows users to send data and value from one network to the other seamlessly. It’s similar to interoperability in traditional finance where you can send money from one bank to another.

Boba the first L2 going multichain

Unlike other prominent layer 2 scaling solutions, Boba is establishing itself as the first cross-chain platform. Announced in June 2022, Boba’s expansion moves it beyond the scope of a traditional L2 into that of an execution layer, combining its existing mass-level performance scalability with an additional feature set and offering developers smarter tools to build more dynamic dApps. Making Boba available to more developers is a critical milestone in pursuing a future where Web3 is truly interoperable with Web2.

Boba’s multichain networks

Boba’s blockchain scaling solution now works with all alternative layer 1 Ethereum (EVM) based blockchains. Creating a frictionless cross-chain ecosystem. Learn more about Boba’s multichain approach here and follow our multichain videos to get started.

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