Cryptocurrency

FTX-backed Aptos blockchain under fire for low scalability on launch day

Zegex

Layer 1 blockchain backed by FTX Aptos has faced backlash for failing to deliver on promises of scalability since launch day.

Layer 1 Blockchain Developed By Former Meta Employee Launches Mainnet “Aptos Autumn” October 17th.

Prior to launch, it promised to deliver unmatched speed up to 160,000 Transactions per second (TPS).

But fact check in Aptos Explorer It turns out that it can only process about 4 transactions per second, which is lower than Bitcoin’s 10 TPS.

Twitter user Paradigm Engineer #420 We pointed out some flaws detected in the Aptos blockchain on launch day.

Aptos currently has 102 validators who are major users of the network and facilitators of 4 TPS recorded.

However, the Aptos developer said: discord The 4 TPS shown does not reflect the maximum TPS for Aptos. They explained that the lower TPS was due to less network activity.

The true scalability of Aptos becomes apparent as soon as user activity begins on the network.

VC supports Aptos

After promising to deliver, Aptos was loved by many crypto ventures, including a16z, Binance, and FTX. Unmatched scalability Take advantage of the new Move programming language.

Aptos, a spin-off from Meta’s failed Diem blockchain project, said it is building a highly scalable, decentralized and affordable blockchain solution that will drive Web3 adoption for the masses. .

To support Aptos’ vision, FTX Ventures and Jump Crypto led a $150 million Series A funding round for the blockchain startup.

a16z leads the seed round, $200 million for Aptos. Major cryptocurrency exchange Binance also announced support for Aptos Vision.

Valued at $2 billion, Aptos has all the funding it needs to develop its infrastructure and ensure that the low TPS recorded on launch day doesn’t continue.

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