BLOB integration has significantly reduced the cost of using Blast

The Blast L2 network started using BLOB objects, which reduced transaction fees by about ten times. This is reported by The Block.  

On May 27, protocol developers added support for Dencun, which includes EIP-4844.

Blast will be upgraded to support blobs on Monday May 27 at 2PM PT.

Blast users will have lower gas fees and Dapps will earn more gas fee revenue after the upgrade.

Infrastructure providers should upgrade to the latest Blast node which has 4844 support. pic.twitter.com/QEbxZCyR0Y

— Blast (@Blast_L2) May 23, 2024

Before the upgrade, the average transaction fee in Blast was about $0.1. After the upgrade, the network commission fell below $0.01. 

The average daily Blast commission. Data: The Block.

Every day, the network produces from 700 to 1000 blocks per day, behind Arbitrum, Base, Optimism, Taiko and Scroll, but ahead of Linea and other ZK solutions.

Blast is the third largest in terms of the number of operations with BLOB objects published on the main Ethereum network. 

The number of BLOB transactions in blockchains. Data: The Block.

However, the protocol includes only one large array of binary data per transaction, whereas Optimism uses six. 

It is economically advantageous to host a larger number of blobs within a single transaction, as they significantly reduce the cost of data storage. 

Most L2 networks include six arrays each, but the recently launched Taiko and Scroll solutions so far use only one. Blast is probably also "getting used" to the technology.

According to DeFi Llama, the total blocked value of assets on the network has reached $2.24 billion. At the time of writing, Blast ranks sixth in TVL among all blockchain protocols. 

Blast is an EVM-compatible scaling protocol that uses Optimistic Rollups. The platform offers a passive income of 4-5% per annum.

Initially, the project attracted users with the promise of an airdrop, which was planned for May. However, the date was later postponed to June. 

The project was launched in November 2023 by the founder of the NFT marketplace Blur under the pseudonym Pacman. Initially, the protocol did not even have a test network and offered users to deposit coins over the bridge. 

Recall that the Blast mainnet launch took place on February 29. Shortly after, users withdrew $1.3 billion worth of assets from the protocol.

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