Ethereum’s Blast Network Reduces Withdrawal Times, Considers Rebranding Toward “Full Stack Chain”

After monitoring withdrawals for four months, the developers of Ethereum layer-2 network Blast have decided to reduce withdrawal times from 14 days to 7 days. The team stated that the longer wait times were initially implemented to provide a buffer for Lido withdrawals but have now deemed them unnecessary. Blast has updated its Twitter handle from @blast_l2 to @blast and released a vision statement indicating its aspirations to become a “full stack chain.”

Critics have speculated about Blast’s alignment with Ethereum, with some suggesting that the change in the network’s handle may signify a potential departure from being an Ethereum layer-2. Founder Tieshun Roquerre, also known as “Pacman,” emphasized in a video that Blast’s designation as an Ethereum layer-2 is merely an implementation detail and could change in the future based on user benefits and value.

Despite the rebranding and potential shift in focus, Blast recently launched phase 1 of an airdrop for its BLAST token, resulting in a 40% increase in value. However, the token’s value has since declined to $0.017, slightly below its initial price of $0.02. Blast’s decision to reduce withdrawal times and reassess its alignment with Ethereum indicates a strategic shift in the network’s development trajectory.