Blast Network Hits $400M TVL, Refutes Claim It's Too Centralized

THE Blast team replied has complaints that It is multisignature upgrade Functionality makes he Also centralized.

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Web3 protocol Blast network has won on $400 million In total value locked (TVL) In THE four days Since he was spear, according to has data Since blockchain analytic platform DeBank. But In A Nov. 23 social media thread, Polygon Laboratories developer reports engineer Jarrod watts claims that THE new network laid significant security risks due has centralization.

THE Blast team replied has THE critical Since It is own X (Previously Twitter) account, but without directly referent has watts thread. In It is own thread, Blast claims that THE network East as decentralized as other layer 2s, including Optimism, Arbitration And Polygon.

On multisignature security.

Read This thread has to understand THE security model of Blast along with other L2 as Arbitration, Optimism, And Polygon.

— Blast (@Blast_L2) November 24, 2023

Blast network complaints has be "THE only Ethereum L2 with native yield For ETH And stable coins”, according to has marketing material Since It is official website. THE website Also States that Blast allow A users balance has be “self-composed” And that stable coins sent has he are converted In “USDB” A stable coin that automatic compounds through MakerDAO Treasury bond protocol. THE Blast team has not released technical documents explaining how THE protocol works, but he said they will be published When THE airdrop occurs In January.

watts original job said Blast can be less secure Or decentralized that users realize, claim that Blast "East just A 3/5 multisignature. » If A attacker gets control of three out of five team members' keys, they can...