Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
L1 Blockchain Aptos Sets New Transaction Record, Surpassing Solana with 115.4M Daily Transactions

L1 Blockchain Aptos Sets New Transaction Record, Surpassing Solana with 115.4M Daily Transactions

Cryptonews2024/05/27 08:49
By:Ruholamin Haqshanas
 
 
Aptos, a layer-1 blockchain platform developed by former Facebook employees, has set a new record in blockchain transactions.

On May 25, Aptos surpassed Solana by recording an astounding 115.4 million transactions in a single day, far exceeding Solana’s 31.7 million, according to Aptoscan .

The surge in transaction volume not only shattered previous records but also surpassed the L1 record of over 65 million held by Sui Network by an impressive margin of over 50%.

The exponential growth in transactional activity on Aptos highlights the platform’s increasing adoption and the industry’s overall momentum.

According to data from Aptoscan, the blockchain’s user TPS (transactions per second) reached an all-time high of 32,000 on the same day.

This signifies a significant increase in activity within the blockchain ecosystem, showcasing the platform’s scalability and robustness.

The recent surge in transactional activity on Aptos can be attributed to the launch of Tapos Cat, an innovative tap-to-earn game that has rapidly gained popularity.

Within its first day on the mainnet, Tapos Cat processed a staggering 10 million transactions, making a substantial contribution to the increased activity on the platform.

Tapos Cat offers users the opportunity to earn $HEART tokens by ‘tickling’ a virtual cat, encouraging multiple transactions within the game.

Additionally, the game provides a gas-fee-free experience for the first 72 hours, incentivizing players to engage without incurring any additional costs.

Crypto Veterans Question Tapos Cat’s Long-Term Viability


Critics, including the CEO of Helius Labs, have raised questions about Tapos Cat’s long-term viability and practical utility.

They argue that the game’s emphasis on click-and-buy interactions may artificially inflate metrics without genuinely serving user needs.

However, proponents of Aptos contend that Tapos Cat serves as a crucial engineering project, showcasing the scalability and robustness of the Aptos network while paving the way for future developments.

In another move, the Aptos Labs team recently introduced a group of global advisers, including David Lawee, former vice president of corporate development at Google.

Additionally, Aptos Labs has collaborated with Atomrigs Lab to announce plans for the launch of T wallet, a Web3 wallet service, in partnership with South Korean telecommunications operator SK Telecom (SKT) .

Solana Among Fastest Blockchains


Solana has proven to be the fastest among large blockchains, processing a staggering 91 million transactions in a single day.

On April 6, Solana achieved a record-breaking daily average of 1,504 transactions per second (TPS) during the memecoin frenzy.

This makes the blockchain an impressive 46 times faster than Ethereum and over 5 times faster than Polygon, which boasts the highest TPS among Ethereum scaling solutions.

Despite its position as the fastest blockchain, Solana has only achieved 1.6% of its theoretical maximum speed of 65,000 TPS.

It is worth noting that Ethereum scaling solutions and layer 2 solutions have yet to surpass other layer 1 blockchains in terms of real processing speed.

This may be attributed to the lower number of on-chain transactions on Ethereum scaling solutions, resulting in slower realized TPS for these blockchains.

 
 
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Trump and Wall Street: How long will the love affair last?

Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan2024/11/24 03:44

Spot Bitcoin ETFs see record $2.42B inflows as Chinese ETFs suffer historic $2B outflows

Share link:In this post: Spot Bitcoin Exchange Traded Funds saw almost $2.5 billion in investments in a single week. However, the Chinese ETFs have seen a series of outflows, amounting to $2 billion worth of withdrawals. The Bitcoin rally helped elevate the spot ETF market, especially with Bitcoin close to reaching $100000.

Cryptopolitan2024/11/24 03:44

The clash of Bitcoin and benchmark stock indexes

Share link:In this post: The S&P 500 is up 25% this year, with financial and cyclical stocks leading, boosted by optimism around a Trump administration and steady economic growth. Bitcoin has surged 40% this month, nearing $100,000, driven by aggressive trading, retail investor enthusiasm, and headlines hinting at government support. MicroStrategy’s stock hit a $100 billion market cap, tripling its Bitcoin holdings’ value, but its wild 32% drop from intraday highs shows cracks in the frenzy.

Cryptopolitan2024/11/24 03:44