Project Blast has finally started. Will it bring a revolution in the ETH blockchain?

This project has been loud about it from the very beginning. Blast, as a new layer two solution in the Ethereum network, was supposed to bring a real revolution. The announcement of the new project was not without controversy, but the project finally took off. Will Blast actually be a game changer that will revolutionize the Ethereum network?

The Blast project is entering its first stage – developers are launching a test network

It cannot be denied that the Blast project had extremely controversial beginnings, due to the huge interest. In just three days, Blast L2 developers announced that the TVL is over $300 million. Many blockchain detectives advised a cautious approach to Blast due to the collection of as much as USD 300 million in stETH and stablecoins (today it is already USD 1.3 billion). However, it turns out that the Blast project is doing quite well, and the developers have just launched a test network.

There is also a large information campaign carried out on the X portal, which aims to attract new developers to the project. For this purpose, the “Big Bang” competition was launched. The competition task is to create a Web3 application, which will be selected by a jury consisting of Tieshun “Pacman” Roquerre and representatives of Paradigm and Standard Crypto investors. The reward is contact with top investors and accelerated access to airdrop. The competition results are scheduled for February, as the full launch of Blast L2 will take place in March this year.

Will Project Blast turn out to be a rocket engine for the ETH price?

Recent weeks have seen a clear increase in the ETH price, which at one point even outstripped bitcoin. Interest in Vitalik Buterin's cryptocurrency is growing, and many analysts and cryptocurrency experts predict rapid growth in 2024 and even surpassing the current ATH.

Looking from the analytical side, it must be admitted that many factors contribute to the increase in the popularity of ETH, which may definitely translate into the price of this cryptocurrency. The Blast L2 project is just one such factor, as shortly before the end of 2023, the ETH community adopted the ERC-4643 standard. It allows, for example, RWA tokenization.