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Blast Blockchain Review (8.6/10⭐)



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Blast is the first layer 2 native yield blockchain project. Users of the network can stake ETH and other stablecoins in order to earn profits. The network is built on the Ethereum blockchain, and since it uses the Optimistic Rollup technology, users can complete transactions fast and cheaply. The chain also provides users with a high transaction throughput (up to 10,000 transactions per second).


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Blast has proven to be quite popular among investors and crypto users. The network now holds assets worth more than $6 million. Some of the key investors in the project include Paradigm and eGirl Capital. The participation of such giants in the project has improved investor confidence, thus boosting its growth. The asset pool of the network is quite diverse as it includes ETH, stETH, and stablecoins. This selection of assets contributes to the resilience of the chain.

 

Briefly about Blast

Blast chain was developed by Pacman, the founder of Blur. The project primarily aims at expanding the capabilities of the Ethereum network. With this network, users can enjoy higher levels of scalability, and they can also collaborate with people from all around the world.

The only only Ethereum L2 with native yield for ETH and stablecoins!CryptoLists.com
 

Blast stands out because of its native yield program. In addition, the network supports multiple blockchains, meaning users can seamlessly access different chains with a unified account. Developers can also transact using stablecoins, meaning they can budget their infrastructure costs accurately.

 

Utility of Blast?

One of the main reasons why people use Blast blockchain is that it offers rewards on ETH and stablecoins assets. It’s actually the first Ethereum layer 2 blockchain to offer automatic profits on crypto assets. Other advantages of this blockchain are the fact that it completes transactions in seconds and charges next to nothing to transfer funds.

Blast

Blast Consensus Method: Proof of Stake
Release Date: February 29, 2024
Resources & Social media
 

Advantages at Blast

+ It has close to zero transaction fees.
+ Transactions are completed instantly.
+ Users can earn yields on their holdings.
+ It offers seamless compatibility with the Ethereum Virtual Machine (EVM).
 

Disadvantages

- As a new blockchain, it’s unclear how reputable Blast is.
- The network may experience the same security risks as other L2 blockchains.
- The complexity of the blockchain may hinder its growth.
- It poses centralization risks.
 

Costs

▪ Rated at 9/10

Blast chain has very low transaction fees. The average transfer fee on the blockchain is 0.00003 ETH, which is equivalent to about 11 US cents. The main Ethereum network charges fees of about $1.399, while smaller chains like Helium blockchain charge an average of 35 US cents for transactions. Keep in mind that the fees on Ethereum go up significantly when the network is congested.

 

Reputation and Buzz

▪ Reputation rated at 8/10
▪ Buzz rated at 9.5/10

Blast has generally received positive reviews from investors and network users. Its native yield model has significantly contributed to its positive reputation. Additionally, the project is backed by some of the most reputable individuals and companies in the crypto sector. That said, the network has already experienced an exit scam with the protocol named RiskOnBlast. This breach attracted a lot of criticism, but the chain has still retained significant deposits. At the moment, the Discord community of the network has over 85,000 users, and more than 57,000 wallets interact with the chain.

 

FAQ

Who created Blast?

Blast was created by Pacman from Blur. Experts from MakerDAO, MIT, Yale University, and Seoul National University also helped in the development of the network. Pacman currently serves as the CEO of the company, while Kelvin Ho holds the COO position.

Is Blast proof of stake?

Blast secures transactions using the proof of stake algorithm. It’s worth noting that the network uses the security features of Ethereum blockchain.

Will Blast overtake Ethereum?

Blast can’t overtake Ethereum since it’s built on the Ethereum blockchain. That said, Blast is proving to be a fast-growing network, and this is primarily because of its native yields. The fact that it’s backed by respected investors has also helped it grow rapidly. Blast may compete with smaller chains like Helium and Polygon.

 

History about Blast

February 2024 - The mainnet goes live, officially launching the blockchain.

June 2024 - The team behind Blast unveiled its much-anticipated token airdrop on June 26, 2024.

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Screenshots from Blast

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