The Ethereum Layer-2 Network by Blur’s Co-founder Announces Job Openings
A layer-2 scaling solution for Ethereum, called Blast and backed by Paradigm, is hiring for two important positions as it prepares for its promised mainnet launch. The project has already attracted $640 million in cryptocurrencies deposited by users. However, some crypto users have expressed doubts about Blast’s ability to deliver a secure decentralized finance (defi) protocol on the Ethereum blockchain.
Hiring for Crucial Roles Despite Absent Mainnet
Blast is currently hiring for the positions of Senior DevOps Engineer and Senior Protocol Engineer. These roles are essential in building a functional blockchain mainnet, which Blast does not yet have. Nevertheless, speculative investors have been depositing hundreds of millions in digital assets into Blast’s smart contract, hoping to gain early user advantages and potentially receive a token airdrop.
Controversy Surrounding Blast’s Multi-Sig Wallet Model
Blast’s multi-sig wallet model, which requires three out of five signers to move funds, has raised concerns among defi participants. The project defends its security measures by stating that “security exists on a spectrum” and “nothing is fully secure.” Similar mechanisms are employed by other layer-2 networks like Polygon.
Paradigm Expresses Concerns but Acknowledges Exciting Components
Paradigm, the primary institutional backer of Blast, has expressed concerns about the project setting a “bad precedent” for other layer-2 networks and defi platforms. However, Dan Robinson, a Paradigm researcher, acknowledges that Blast does have several exciting components. According to DefiLlama data, if Blast’s network were fully released, it would become the third-largest layer-2 network by total value locked on Ethereum.
Hot Take: Blast Faces Scrutiny but Attracts Significant Deposits
Blast’s hiring announcement has attracted attention and scrutiny from the crypto community. While doubts remain about the project’s ability to deliver a secure defi protocol, speculative investors have still deposited a substantial amount of cryptocurrencies into Blast’s smart contract. Only time will tell if Blast can meet the expectations of its users and deliver a fully functional mainnet.
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