Ethereum
Layer-2
(L2)
network
Blast
has
effectively
cut
withdrawal
times
in
half
by
reducing
the
time
it
takes
to
bridge
assets
from
Blast
to
Ethereum
Mainnet
to
seven
days
from
the
previous
14
days.
Blast
announced
the
update
in
a
social
media
post
on
July
16
and
explained
that
the
reduction
in
bridge
time
comes
after
a
thorough
analysis
of
withdrawal
activity
over
the
past
four
months.
The
analysis
showed
core
contributors
that
a
smaller
buffer
would
still
accommodate
nearly
all
withdrawal
requests.
Previously,
the
14-day
bridging
period
was
set
to
provide
a
buffer
for
Lido
withdrawals,
which
Blast
currently
relies
on
for
Ethereum
yield.
By
reducing
this
period,
Blast
aims
to
enhance
the
efficiency
and
user
experience
on
its
platform.
However,
the
network
added
that
the
process
may
take
more
than
seven
days
in
“rare
cases.”
It
also
clarified
that
the
reduction
applies
solely
to
bridging
from
Blast
to
Ethereum
Mainnet,
while
transfers
from
Ethereum
to
Blast
continue
to
take
only
a
few
minutes.
The
announcement
has
been
met
with
enthusiasm
from
the
community,
with
many
applauding
the
improved
functionality.
The
move
is
expected
to
boost
liquidity
and
flexibility
for
users
leveraging
Blast
for
their
blockchain
transactions.
The
move
did
not
cause
a
reaction
in
the
native
token’s
price,
with
BLAST
trading
at
$0.0169
as
of
press
time
—
remaining
below
its
initial
launch
price.
The
token
was
down
2.84%
over
the
past
24
hours
in
contrast
to
the
general
market
uptrend
this
week,
based
on
CryptoSlate
data.
Layer-2
classification
The
network’s
X,
formerly
Twitter,
account
recently
removed
mentions
of
“Layer-2”
from
its
handle
and
details,
prompting
some
to
speculate
that
the
rollup
plans
to
become
a
standalone
network.
However,
Blast
founder
Tieshun
Roquerre
stated
in
a
video
that
the
network’s
current
implementation
is
as
a
Layer-2,
but
this
could
change
in
the
future
if
it
benefits
the
user
and
adds
value.
He
added
that being
an
Ethereum
Layer-2
is
“an
implementation
detail”
and
that
“it
does
not
matter”
whether
a
network
is
regarded
as
an
L2
or
not.
Blast’s
recent
vision
statement
from
June
supports
this
notion
and
claims
that
the
network
aims
to
become
a
“full
stack
chain”
in
the
future.
Mentioned
in
this
article
In:
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Author: Assad Jafri
