The blast drops the ‘L2’ from the X username, reducing the withdrawal time from 14 to 7 days

The Ethereum Layer-2 Blast network has cut its withdrawal time in half from 14 days to 7 days, according to data posted by the network's development team on July 16. The network has previously required longer egress times to “provide a buffer for Lido extraction”. The team says this longer waiting period is not necessary.

The team has posted a message from a new X account, @blast, which replaces the @blast_l2 account it was previously using. The previous account announced the presence of the new account in the profile.

In a related thread, the team revealed that Blast Core contributors have been monitoring withdrawals for the past four months and have now concluded that “a small buffer is sufficient to handle all withdrawals.” He warned that some withdrawals could still take longer than seven days, although this should only happen “on rare occasions”. Meanwhile, transfers from Ethereum to Blast will still only take “minutes” to process, the post said.

The protocol handle change on X was noted by some critics of the explosion. Former Aave contributor and X user Jim speculated that the explosion means Ethereum will no longer be Layer-2. The Blast have changed their handle from @Blast_L2 to @blast and are now calling themselves the ‘Fullstack Chain'. “[F]The first package we are seeing is Ethereum leaving it to become an independent chain […] Ethereum alignment seems to be a meme at the same time.

Ethereum layer-2 networks inherit their security from Ethereum rather than the nodes themselves.

Related: A Beginner's Guide to Blockchain Layer-2 Scale Solutions

Both Blast X accounts provided links to a June 26 “revelation” statement that claimed Blast would be a “full-stack chain” in the future.

In an accompanying video, founder Tieshun Roquerre (also known as “Pacman”) stated that Ethereum is Layer-2 “implementation specification” and that it “doesn't matter” whether the network is considered “L2” or not. However, Blast says that “the current implementation specification is the same as L2”, although this implementation may change “if it actually benefits the user and makes sense to do so”.

On June 26, The Blast Network launched Season 1 of an airdrop for its BLAST simulator. The next day the price of the token increased by 40%. It has since dropped to $0.017, which is slightly below the launch price of $0.02.

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