Boba Network, a Decentralized Autonomous Organization (DAO) and next-generation Ethereum Layer-2 Optimistic Rollup scaling solution, has successfully raised $45M USD in Series A, valuing the project at $1.5b. The funding will address Ethereum’s computational limitations and foster greater functionality for decentralized applications (dApps) through Boba’s Hybrid Compute platform.

The round saw participation from crypto exchanges such as Crypto.com, Huobi, and BitMart, as well as successful crypto funds such as Hypersphere, Infinite Capital, Hack VC, GBV, Alliance DAO, The Venture City, Sanctor Capital, Shima Capital, DeFi Tech, 10X Capital, TRGC, D1, Portal, Genblock, Rarestone, and Kosmos. Investors with strong regional networks like Kinetic Capital, Ghaf Capital, LD Capital, Old Fashion Research (led by ex-Binance CFO), Krypital, Alphanonce, IOST, ROK Capital, and RedlineDAO also participated.

Other notable investors include the Dreamers VC (Will Smith and Keisuke Honda), M13 (Paris Hilton and Carter Reum), Tony Robbins, Joe Montana, and KSHMR.

Additional participants include founders of industry stalwarts Quantstamp, Origin Protocol, The Graph, Fractional Art, Highstreet, Hanbitco, ANKR, UMA, Nillion, deBridge, FEI Labs, DoinGud, Utopia Labs, and Sense Protocol.

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Beyond bootstrapping Boba’s development, the raise will enable the protocol to invest in Boba ecosystem projects and tap into the combined expertise of some of the biggest names in Web3. Participating investors share in Boba’s vision of fostering crypto accessibility and liberating developers who have been restricted by Ethereum computational limitations.

Boba’s Hybrid Compute brings the power of Web2 on-chain for the first time, allowing smart contracts to call any external Web2 API to execute complex algorithms such as machine learning classifiers, pull in real-world or enterprise data in a single atomic transaction, or sync with the latest state of a gaming engine. Leveraging off-chain compute and real-world data, developers and creators can offer an enriched experience unlike anything else on the market today.

Alan Chiu, Boba Network Founder, said: “This fundraise is about building a broad-based alliance to build the Boba ecosystem. Having so many amazing investors demonstrate their confidence in our vision and technology reinforces our belief that what we’re building is important and necessary. Hybrid Compute will scale Web3 development, enabling builders to deliver innovative products with greater functionality.”

Boba is also responsible for creating one of the first bridges to ferry non-fungible tokens (NFTs)  from layer-2 blockchains to Ethereum’s layer-1 and vice versa. Typically, when NFTs are minted on a layer-2 blockchain, they remain tied to that particular protocol. Boba’s NFT bridge allows NFTs to be moved and traded throughout the Ethereum ecosystem — greatly expanding NFT liquidity.

Bobby Bao, Managing Director of Crypto.com Capital, said: “Layer 2 innovations are among the most exciting products being developed in the crypto space today, none more so than Boba Network. Boba is developing industry-leading solutions such as Hybrid Compute to scale Web3, so we’re thrilled to be on board.”

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Spain-based BitCoin wallet provider, HandCash, has now packaged, in just one toolkit, the basic components every BitCoin application developer needs. Named ‘HandCash Connect’, the new BitCoin app software development kit is an all-in-one toolkit with six basic components that every developer can use to easily build new applications on the BitCoin SV (BSV) blockchain. The toolkit reduces each key component to simple code snippets in plain English. All a developer needs to do is call the APIs and the Cloud will do all the heavy lifting for them, so they can quickly start building powerful BitCoin applications. This is made possible because HandCash uses the BitCoin SV blockchain, the only chain that significantly scales (now), is regulation-friendly and has robust utility.

The BSV blockchain’s greater scaling, data and micropayment capabilities allow enterprises to build great BitCoin applications. HandCash want developers to focus on their business and customers instead of worrying about the BitCoin component the business sits on top of. HandCash will take care of all that, leaving developers to create apps and services, as well getting visibility on our umbrella app.

But what can be built with it?:

As HandCash Connect is a backend solution, instead of a frontend, so apps and games can be built on any platform – be it mobile, tablet, desktop, web or even for a smart fridge.

Essentially, this SDK allows developers to take advantage of all the powerful properties of BitCoin as a technology platform without any complex BitCoin protocol development skills to learn or infrastructure to maintain.

Also introducing the HandCash App Store:

With the intention of bringing more utility and fun to users, HandCash will also be launching the HandCash App Store, one place where all Bitcoin apps are available.

Many companies have already agreed to participate in the HandCash App Store by either integrate with the HandCash Connect toolkit or build apps entirely based on it.

The pre-launch integration program is now open. Just click here to start building the next big Bitcoin app and get free exposure to thousands of loyal HandCash users.

To learn more HandCash’s plans, come to the CoinGeek London conference, February 20-21, 2020 in London, United Kingdom. Also visit BitcoinSV.com to learn more about BSV.

SOURCE HandCash