Blur Founder’s layer 2 network BLAST has raised $20 million in the latest funding round, but will the same serve their needs in reducing transaction costs?
Ethereum is already encountering shortcomings concerning speed, costs, and scalability, and keeping this as the base issue, the Blur Founder’s layer 2 network has engaged in a fundraising activity, which has enabled it to secure $20 million, typically led by Paradigm and other major investors.
Paradigm Found Its Potential Investments
Paradigm is a research-driven investment company that invests in potential companies and spaces that are innovative, beginning from $1 million to $100 million and beyond. It has lately invested in BLAST along with major investors like Standard Crypto, The Block CEO Larry Cermank, Mechanism Capital co-founder Andrew Kang, EGirl Capital, Lido strategy advisor Hasu, and some of the angel investors.
The Motivating Force
Paradigm and EGirl Capital have vividly witnessed and foreseen the latest technology that is used by the BLAST and the potential it has to impact the crypto platform. Blast also possesses some of the traits in solving scalability issues and asset management that came out as a promising notion to the investors to have their back in the latest funding.
Insight By The Founder
Tieshun Roquerre, the founder of the NTF marketplace, is also evolving the mere innovative layer 2 networks while he also aims at the reduction of the exceedingly high transaction costs associated with digital assets or digital collectables.
Perks To The Users
BLAST has some unique and trailblazing features, but one of the crucial features is its automated compounding mechanism that essentially balances users on the network to grow and make additional rewards, making it a captivating space for the users to dive along without any hassle.
In A Nut Shell
All in all, if the $20 million is optimally used, then we can witness its scalability range in solving the challenges in the future along with bringing down the unnecessary costs, making it all worthy for its users.
