Blast network has made a significant improvement by reducing the bridge process to just 7 days, cutting the withdrawal time in half from the previous 14 days. This change was announced through a social media post on July 16, following an analysis of withdrawal activity over the past four months.
The initial 14-day bridging period was set to provide a buffer for Lido withdrawals, which Blast relies on for Ethereum yield. However, after careful consideration, Blast found that a smaller buffer would still accommodate the majority of withdrawal requests, leading to a more efficient and user-friendly experience on the platform.
While the reduced bridge process is a welcome change for users, the network has mentioned that in rare cases, the process may take longer than seven days. It is important to note that this reduction only applies to bridging from Blast to Ethereum Mainnet, with transfers from Ethereum to Blast still taking just a few minutes.
The community has shown excitement and appreciation for this improvement, as it is expected to enhance liquidity and flexibility for users engaging in blockchain transactions through Blast. Despite the positive reception from users, the change did not have a direct impact on the price of the native token BLAST, which was trading at $0.0169 at the time of the announcement.
In response to speculation about Blast’s classification as a Layer-2 network, founder Tieshun Roquerre clarified that while the current implementation is as a Layer-2, this could evolve in the future to better serve users and provide more value. The network’s vision statement from June supports this idea, suggesting that Blast aims to become a “full stack chain” in the future.
Overall, the reduction in the bridge process by Blast network is a positive development that showcases the network’s commitment to improving efficiency and user experience. By streamlining withdrawal times and remaining responsive to user needs, Blast continues to position itself as a key player in the blockchain ecosystem, with potential for further growth and innovation in the future.