Project compilation failed.

[looksunrise]

After I cloned this project, I encountered the following error when I executed the cargo build --release command to compile:
error: package bumpalo v3.16.0 cannot be built because it requires rustc 1.73.0 or newer, while the currently active rustc version is 1.70.0
Either upgrade to rustc 1.73.0 or newer, or use
cargo update -p bumpalo@3.16.0 --precise ver
where ver is the latest version of bumpalo supporting rustc 1.70.0
How do I solve this problem?

[OmniaFlux]

We are no longer actively maintaining this project. It didn't achieve the desired outcomes we intended. Where are you using this? If it's for critical purposes, we could allocate resources to address this issue.

As you may know, Polkadot upgrades are very frequent. It's completely normal that a project from two years ago fails to compile with current dependencies.