According to Odaily Planet Daily, the MultiversX smart contract platform has demonstrated great potential to increase the transaction throughput of existing L2 blockchain networks by up to 100 times through its newly launched Sovereign Chains technology. This BaaS (Blockchain as a Service) solution allows the L2 network to inherit the scalability of MultiversX. Beniamin Mincu, CEO and co-founder of MultiversX, said 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 increasing throughput, sovereign chains can also improve the interoperability of L2 built on Bitcoin, Ethereum, and Solana.