The Ethereum-based Layer 2 project Blast, alongside its main investor Paradigm, aims to change perceptions with a significant update. Despite controversies, the project has already attracted $835 million in deposits.
Paradigm’s General Partner and Director of Research Dan Robinson announced progress in the platform’s technical design. The system is preparing to transition to a new update mechanism planned for next week.
The update particularly aims to address and rectify past criticisms directed at Blast by affecting the withdrawAndLosePoints function. With the update being open-source, it provides an opportunity for other projects to emulate Blast’s positive changes.
Despite the critiques, Blast continues to reach new heights in terms of Total Value Locked (TVL). Currently, the network, which holds deposits exceeding $835 million, has become the fastest-growing network according to the DefiLlama tracker.
Blast’s collaboration with Paradigm and the open-source update marks a turning point for the controversial Layer 2 project. This move towards transparency and positive change could redefine the project’s perception within the crypto community.