Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at how the L1 blockchain Aptos overtook Solana in terms of daily transactions.
Aptos
The L1 blockchain which was founded by former Facebook employees managed to set a new record in terms of daily transactions on their network. On Saturday the 25th of May 2024 Aptos smashed Solana in terms of transactions for a single day when they managed to record a staggering 115.4 million transactions. For comparison, Solana's record had sat at 31.7 million transactions in a single day.
This surge in transaction volume has not only beaten the 'ETH Killer' Solana, but also broke the L1 record of over 65 million held by Sui Network. The amazing level of growth in terms of transaction activity on Aptos shows that the platform is gaining traction in terms of adoption among the masses. This information comes from Aptoscan, the blockchain’s user TPS (transactions per second), and it record an all-time high of 32,000 on the same day.
Given the significant increase in activity within the blockchain ecosystem, Aptos has demonstrated its ability to handle scalability while also remaining a robust and reliable network. The surge in transactions is attributed to the launch of Tapos Cat, an innovative tap-to-earn game that has rapidly gained popularity. On its release Tapos Cat processed a staggering 10 million transactions, which had a clear impact on the overall increased activity on the network.
However, the critics were quick to point out the lack of Tapos Cat’s long-term viability and practical utility. The game allows users to earn the $HEART token by by ‘tickling’ a virtual cat, and this in turn encourages multiple transactions within the game. The game also provides a gas-fee-free experience for the first 72 hours and this is an incentive mechanism for players to engage with the ecosystem without incurring any additional costs. The argument against the viability of the game was noted by CEO of Helius Labs, and it was highlighted that every click of tickling the cat is counted as a transaction per second within the network.
This could therefore be artificially inflating the metrics without genuinely serving user needs. Many proponents of Aptos contend that Tapos Cat serves as a crucial engineering project, especially in its ability to showcase the scalability and robustness of the Aptos network. It will also serve as a starting point for other developers to develop their own d'Apps on the network.
Aptos Labs remains committed to scaling its mission of enabling billions of people to access decentralized assets, and on the 9th of May 2024 they announced a group of global advisers, including David Lawee, former vice president of corporate development at Google. They have also collaborated with Atomrigs Lab and back in November 2023 announced plans for the launch of T wallet, a Web3 wallet service.
To date Solana has been considered the fastest network among fast blockchains, having processed 91 million transactions in a single day. Back on the 6th of April 2024 Solana managed to achieve a record-breaking daily average of 1,504 transactions per second (TPS). This took place during the memecoin frenzy, and means the blockchain is 46 time quicker than Ethereum. It is also over 5 times faster than Polygon, which boasts the highest TPS among Ethereum scaling solutions. However it is important to note that despite its impressive speeds, Solana has only achieved 1.6% of its theoretical maximum speed of 65,000 TPS.
Have a great day.
Peace. CryptoGod-1.
Referral Links and Follow Me:
