Aptos Flips Solana in Daily Transactions, Here’s Why

by

As a seasoned crypto investor with a keen interest in blockchain technology, I’ve witnessed my fair share of milestones and innovations within the industry. The recent achievement by Aptos in recording an astounding 96.6 million transactions in a single day has left me impressed. This figure surpasses Solana’s record by more than double, setting a new benchmark for Layer 1 blockchains.

As a crypto investor, I’m excited to share that Aptos has made a significant leap forward in the blockchain space. Yesterday, this project recorded an impressive milestone of handling an astounding 96.6 million transactions in a single day. This figure surpasses Solana’s previous daily record of 31.7 million transactions, making Aptos a true contender in the high-transaction volume blockchain arena.

As a blockchain industry analyst, I’ve noticed an unprecedented increase in transaction volume on our Layer 1 blockchain. This spike breaks the previous record established by Sui Network by over 50%.

Factors Behind Aptos’ Surge in Transactions

The surge in trading volume on Aptos can be attributed to the debut of a novel tap-to-earn game, Tapos Cat. Launched just recently, this game gained significant traction and handled an impressive 10 million transactions within its first day on the mainnet.

As an analyst, I’d describe it this way: In Tapos Cat, I can earn $HEART tokens by interacting with a virtual feline character. Each engagement is considered as ‘tickling’ the cat and contributes to my token accumulation. The game design allows for numerous transactions during its initial 72 hours without incurring any gas fees.

Aptos Flips Solana in Daily Transactions, Here’s Why

Additionally, Aptos manages to maintain consistent gas fees and high transaction success rates despite a large volume of transactions. This level of stability is attributed to the Aggregator feature available on Aptos, enabling multiple transactions to be processed in one batch.

As a researcher studying network infrastructure, I’ve found that this technical capability has significantly eased the burden on our network without compromising its efficiency or speed.

Criticism and Defense of New Transaction Models

Although Tapos Cat joined the fray, not all spectators cheered its arrival. The Helius Labs CEO has voiced concerns about the sustainability and real-world value of the game. He argues that the primary focus is on getting users to click and purchase items, which he suspects is more about inflating statistics than catering to user requirements.

Hatred should not be our anthem

We are in a time in crypto where hatred is prominent.

As an active participant in the crypto community, I’m reminded that we’re a small yet determined group striving to revolutionize the global financial landscape through the development of trustless systems capable of handling large-scale transactions.

But what do we do instead?

We shill our…

— Naresh | Aptos (@NareshKx) May 25, 2024

As a crypto investor, I believe in the importance of innovation and the team behind Aptos is a testament to that. While Tapos Cat might not have an apparent use case initially, it represents a significant engineering effort that lays the groundwork for the robustness and longevity of the Aptos network.

In other words, the game successfully demonstrates the network’s capability to handle large transaction volumes without escalating gas fees or experiencing failed transactions.

Concurrently, while these advancements unfolded, Aptos (APT) experienced a bullish trend over the past 24 hours. The coin was priced at $9.05 during this reporting, marking a 1.46% increase from its previous support. In contrast, Solana (SOL) struggled in the last 24 hours to surpass the $170 resistance. At the time of writing, SOL traded at $167, representing a 0.96% decline from its intraday peak.

Elon Musk’s xAI Teams Up with Oracle for AI Supercomputer

Read More

2024-05-26 00:40