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      Blast Announces Shutdown of Layer 2 Due to High Costs

      Blast, a blockchain platform, has announced the impending shutdown of its Layer 2 solution, citing unsustainable operational costs. The decision comes as the company faces financial challenges, prompting it to take measures to streamline its services.

      Currently, approximately $63.5 million remains in Blast's canonical bridge. Users are advised to withdraw their funds by October 26, 2026, using the standard withdrawal interface. After this date, contract-based withdrawals will still be available for users to access their assets.

      The shutdown highlights ongoing issues within the blockchain industry regarding the viability of Layer 2 solutions, which are designed to improve transaction speeds and reduce costs on primary blockchains. Blast's decision may influence other platforms considering similar operational models.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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