Blockchain
Blast Blockchain secures sixth place in the DeFi networks ranking
In an unprecedented development witnessed within the Web3 panorama, Blast, an Ethereum Layer 2 (L2) blockchain, has recently taken the market by storm, securing sixth place in TVL (Total value locked) among all blockchains. Surpassing Base, a layer 2 (L2) blockchain network developed by Coinbase, Blast runs just behind Arbitrum, boasting a TVL of $1.87 billion, according to data from DeFiLlama.
The buzz around the recently launched blockchain, Blast, is getting stronger and stronger in the industry DeFi Community. It is now positioned just below big players such as Ethereum, Tron, BSC, Solana and Arbitrum, establishing a point of reference across the entire sector.
Blast L2 advances with Web3 Journey
Blast’s monumental growth soon after its inception in the Web3 realm has garnered considerable interest in the industry layer 2 blockchain. In particular, with its TVL increasing at a phenomenal rate, blockchain has offered great appeal to users.
The increase in TVL mainly indicates that it offers a number of improvements, such as greater security and liquidity, which in turn generate greater user participation for blockchain within the DeFi sector. Furthermore, according to a post recently shared by the platform on X, an update for the blockchain is also in the works.
According to the post, Blast will undergo an update to support blobs (Binary Large Objects) on Monday, May 27 at 2 PM PT (Pacific Time). Blobs are basically a type of data storage space on blockchain. This update will allow the blockchain to store additional binary data in addition to transactional data.
Coupled with the fact that blockchain recently secured sixth place by TVL, according to data from DeFiLlama, this development further pushes L2 to reach greater heights moving forward.
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More information on Blast
Curiously, Blast’s rapid rise to one of the highest chains highlights L2’s potential to rise even higher. Its official platform highlights an active user base of 1.17 million. Furthermore, it is also worth mentioning that Paradigm and Standard Crypto support L2.
CoinGape Media reported this earlier this year Gust has also been integrated into Onto, further revolutionizing its DeFi journey.
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