Boba Network’s Hybrid Compute – Why It Will Unlock Blockchains’ True Potential

Reality be instructed, information will all the time play a key function for each customers and repair suppliers, be it on Web2 or Web3.

Blockchains are lauded for his or her information immutability, safety, and transparency. The power to retailer information in distributed ledgers throughout a community of decentralized nodes spanning globally slightly than a centralized location (a third-party server or information warehouse) makes blockchain expertise a forward-looking change agent for conventional enterprise fashions.

In the meantime, the Web2 ecosystem has no scarcity of knowledge – information that may be optimized to derive actionable insights and data. It’s no hidden undeniable fact that a number of Web2 corporations recurrently purchase, promote, and dealer person information. This information can also be used to construct higher merchandise and improve person expertise, which has labored in favor of a number of Web2 manufacturers.

Amid the transition to Web3, startups and tasks constructing the decentralized web would require seamless entry to this available information to create sustainable services. On the identical time, accessing and placing this information to make use of turns into more and more essential for blockchain expertise to enter the mainstream market and make a long-lasting impression. 

Enter Boba Community, an Ethereum layer-2 scaling and augmentation resolution that extends the community’s capabilities and performance via hybrid compute, a pipeline connecting siloed Web2 information with Web3 protocols, decentralized functions, and sensible contracts.

The Obstacles Stopping Off-Chain Information From Arriving On-Chain

There’s an issue with off-chain information: blockchain expertise isn’t constructed to work together with exterior APIs and servers. By design, blockchains and the sensible contracts deployed on them function in closed environments. This was accomplished knowingly, serving to blockchains obtain immutability, safety, and different traits lacking in Web2 (like much less outages, larger decentralization).

On prime of that, legacy blockchain networks like Bitcoin and Ethereum aren’t interoperable, which means they’ll’t switch or entry information between one another. The identical goes for many of the second and third-generation blockchain networks. Whereas some developments have been made on this space, similar to cross-chain interoperability, blockchains and the Dapps and protocols constructed atop them find yourself working in siloed environments (solely suitable with blockchains that share related options), thus catering to particular communities.

This limitation of knowledge accessibility has been hindering blockchain’s development for a very long time. Inside the blockchain ecosystem, sensible contracts have superpowers. However on the subject of accessing exterior information sources in real-time, sensible contracts aren’t constructed for it. Actually, as a consequence of this drawback, rising applied sciences like Web3, NFTs, and the metaverse haven’t been in a position to obtain the extent of adoption that was supposed.

Hybrid Compute To The Rescue

A number of options have already emerged to deal with the dearth of connectivity between off-chain information and on-chain environments. But, these options include their very own set of issues. Take, as an illustration, the growing use of oracles to entry off-chain (exterior) information. Whereas oracles present the secured framework for decentralized functions (dApps) and protocols to entry off-chain information, they’re extremely centralized. Because of this builders utilizing oracles for his or her dApps and protocols are immediately compromising the core function of Web3 – decentralization.

And not using a approach to plug sensible contracts into off-chain (real-world) information and functions, neither Web3 nor enterprises will have the ability to leverage the precise advantages of blockchain. Moreover, there must be an ordinary resolution that permits builders to entry on-chain information from particular person blockchains and ecosystems with out compromising safety. 

On-chain services can solely increase their options by accessing and integrating real-world information in real-time. For a second, think about the probabilities of a blockchain-based AI buying and selling platform that may entry real-world macroeconomic information in real-time. The platform can routinely replace (and backtest) its buying and selling methods with the assistance of real-world information, doubtlessly enhancing algorithmic buying and selling outcomes. 

Hybrid compute is one resolution that goals to interrupt down the partitions between on-chain and off-chain ecosystems with out compromising on any of the core options of blockchain expertise. Developed by Boba Community, hybrid compute allows Boba’s Solidity sensible contracts to work together and talk with present Web2 platforms by way of exterior Web2 APIs.

Many use circumstances will be unlocked by enabling blockchain-based sensible contracts with superior functionalities to allow them to work together with off-chain assets. The decentralized finance (DeFi) ecosystem is one such space, particularly with the frequent criticisms of its illiquidity. One potential use for an off-chain to on-chain bridge would contain serving to DeFi dApps and protocols carry within the liquidity from a various vary of real-world property (actual property, invoices, and different money circulate devices). 

It could actually even assist rising sectors like GameFi and SocialFi, in addition to the flourishing NFT sector. SocialFi and GameFi platforms can harness this bridge to allow customers to entry their platforms by merely connecting their off-chain information slightly than signing up for digital wallets. On the identical time, not like Web2, customers can exert higher management over their information, how they share it with, who they share it with, and for a way lengthy. 

Lending platforms can make the most of customers’ off-chain monetary data (like credit score scores and historical past) to supply optimized charges and advantages. NFT marketplaces can make use of this off-chain to on-chain bridge to assemble new fashions derived from off-chain information and superior expertise like machine studying (ML).

On the identical time, Boba’s hybrid compute allows Web3 builders to ship the very best person expertise for his or her customers by gathering the most effective options of the Web2 and Web3 ecosystems. Utilizing Boba’s sensible contracts, builders can achieve entry to a number of information sources to construct a variety of on-chain reward fashions to have interaction extra customers. 

For instance, an rising mission can airdrop rewards to its followers based mostly on real-time information from their engagement throughout present social networks. If a mission is operating a marketing campaign on Twitter, Boba’s sensible contracts can assist the mission entry real-time information (likes, follows, retweets, feedback, and tags) that’s occurring off-chain and, in flip, reward essentially the most deserving contributors.

Hybrid compute bridges the hole between Web2 and Web3, serving to each ecosystems symbiotically profit. As momentum good points, this novel connectivity resolution can even play a key function in reducing blockchain’s entry obstacles and accelerating the adoption of Web3 dApps with extra real-world utility.

Disclaimer: This text is supplied for informational functions solely. It isn’t supplied or supposed for use as authorized, tax, funding, monetary, or different recommendation

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