• Aptos [APT] is a layer-1, proof-of-stake blockchain launched in October 2022 with transaction speeds that could challenge Solana [SOL].
• The chain recently wrapped up its first leg of the ambitious world hackathon tour and expanded its footprints in the web 3 gaming ecosystem.
• APT’s total volume locked (TVL) has exhibited better growth of late, primarily driven by Pancakeswap [CAKE], and NFT trade volume on the network reached its three-month high.
Aptos’s Transaction Speed Advantage
Aptos [APT] is a layer-1, proof-of-stake blockchain launched in October 2022 by Meta’s (formerly Facebook’s) engineers after Meta failed to launch its own blockchain. With its growing list of partnerships and product launches, Aptos has made the crypto world sit up and take notice. The chain uses a Rust-based programming language called MOVE which helps in reducing latency and generating faster transaction speeds compared to other blockchains. According to ZebPay, Solana can process 65,000 transactions per second (TPS) while Aptos could clock in more than twice the number at 150,000 TPS. This throughput difference could shift the momentum decisively in APT’s favor in the long run.
Aptos’s Hackathon Tour
Aptos recently wrapped up the first leg of its ambitious world hackathon tour in Seoul with rockstar hackers who showcased their talent and ideas with potential on Aptos. The company has not yet revealed where they will be headed next for their tour but have asked people to stay tuned for further updates.
Pixelcraft Launch On Aptos Network
The chain expanded its footprints in the web 3 gaming ecosystem as well when it partnered with METAPIXEL who announced the upcoming launch of ‚Pixelcraft‘ on the Aptos network through an official title reveal video.
Total Volume Locked (TVL)
APT’s Total Volume Locked (TVL), while considerably less than Solana, has exhibited better growth of late. While SOL grew by 0.44% over the last seven days, APT increased by almost 4% in the same time period, data from DeFiLlama showed. APT’s TVL stood at $61.38 million at press time, primarily driven by Pancakeswap [CAKE], which had a dominance of almost 60%. Furthermore NFT trade volume on the network reached its three month high as well..
Conclusion
With increasing partnerships and product launches along with faster transaction speeds compared to other blockchains like Solana , Aptso is making waves in both DeFi and NFT space . It will be interesting to see whether all this hype is enough to dethrone Solana against which APT has been consistently positioned or not .