According to Odaily, MultiversX's smart contract platform has demonstrated the potential to increase the transaction throughput of existing L2 blockchain networks by up to 100 times through its newly launched Sovereign Chains technology. This Blockchain-as-a-Service (BaaS) solution allows L2 networks to inherit the scalability of MultiversX.
Beniamin Mincu, CEO and co-founder of MultiversX, stated that by leveraging Sovereign Chains, existing L2 networks can increase their transactions per second (TPS) and smart contract TPS by up to 100 times. In addition to improving throughput, Sovereign Chains can also enhance the interoperability of L2 built on top of Bitcoin, Ethereum, and Solana.