in ,

Blast L2 seeks senior blockchain builders after pulling $600m in deposits

The Ethereum layer-2 network launched by Blur’s co-founder and backed by Paradigm announced openings for two important roles for its promised mainnet which doesn’t exist yet.

Blast, an Ethereum-based L2 scaling solution, is hiring for Senior DevOps Engineer and Senior Protocol Engineer positions after climbing to a mouthwatering $640 million in cryptocurrencies deposited by users.

Blast’s job listing met with scrutiny from crypto users on social media, with many sharing doubts regarding the project’s ability to deliver a secure defi protocol that runs atop the largest altcoin blockchain.

Both roles are crucial to building a functional blockchain mainnet which Blast does not yet have. However, undeterred speculative investors have poured hundreds of millions in digital assets into Blast’s deposit-only smart contract likely to capture early user advantages and position themselves for a possible token airdrop.

The hiring exercise revealed on Dec. 1 was the latest in a controversial saga surrounding Blast. In addition to an absent mainnet, defi participants were skeptical about Blast’s multi-sig wallet model and its five signers. 

Blast’s multi-sig operates with a 3/5 system, meaning three signers can move funds from the protocol’s wallet. The project responded to these comments by saying “security exists on a spectrum” and “nothing is fully secure”. 

Notably, other L2 networks like Polygon employ a similar mechanism and Blast argued that the multi-sig wallet option offers security benefits. 

Paradigm, Blast’s primary institutional backer, also voiced concerns about the project setting a “bad precedent” for other L2 networks and defi platforms coming to the market. Dan Robinson, a Paradigm researcher, did however say Blast held several exciting components. 

Launched by Tieshun Roquerre, co-founder of NFT marketplace Blur, Blast would be the third-largest L2 network by total value locked according to DefiLlama data if its network was fully released at press time.

Follow Us on Google News

This article first appeared at

What do you think?

Written by Outside Source

Market watchers questioning Hooked protocol for potential insider trading

Price analysis 12/1: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX