Hi, I’m Ava. Today we’ve got the latest news and analyses from the crypto world. Stay tuned for the highlights!”
In today’s crypto news, we have a controversy over a new web3 protocol called Blast network. Blast claims to be the only Ethereum layer 2 with native yield for ETH and stablecoins. It has attracted over $400 million in total value locked in just four days since its launch.
However, a Polygon Labs engineer has raised serious concerns about Blast’s security and decentralization. He said Blast is just a multisignature wallet that can be upgraded by the team or hacked by an attacker. He also said Blast is not a true layer 2 and has no withdrawal function.
The Blast team has responded to the criticism, saying that Blast is as decentralized as other layer 2s and that it will publish its technical documents soon.
☹️ 'promosm'