Blast Shuts Down Layer 2 Amid Rising Costs and Competition

Blast, a blockchain-based bridge, has announced it will shut down its Layer 2 service due to unsustainable costs. The decision is reportedly a result of the ongoing economic downturn and increasing competition in the space. As of now, about $63.5 million remains in Blast's canonical bridge, and users have until October 26 to withdraw through the normal interface. After that, contract-based withdrawals will continue.