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Solana ‘Killer’ Aptos Stirs Hype and Sharp Criticism Ahead of Listings

Solana ‘Killer’ Aptos Stirs Hype and Sharp Criticism Ahead of Listings

Yesterday, Aptos, one of the currently most hyped blockchains, celebrated the launch of its mainnet. The project is funded by numerous major crypto companies such as a16z, Jump Capital, FTX Ventures and Binance and has been surrounded by massive hype since its launch. Founding and titled “Solana Killer.” The project is a spin-off from former Meta employees who worked on Libra in 2019, later renamed Diem. Due to political pressure, Mark Zuckerberg’s company had to shut down the project, but some developers saw great potential in the technical base and created Aptos.

Their goal is to create a highly scalable, decentralized, and low-cost blockchain solution that will drive widespread adoption of Web3. The new blockchain assists parallel execution. This has enabled the scalability of up to 160,000 transactions per second (TPS). It is to be achieved. However, yesterday’s release was more than disappointing, as pointed out by a pseudonymous analyst named Paradigm.

TPS was only about four transactions per second yesterday. Additionally, most activities on the network were not actual transactions, just validators communicating, setting up block checkpoints, and writing metadata to the blockchain. Another criticism was that developers could not use the blockchain effectively due to the lack of rpcs and the inability to connect to validators. The pseudonymous analyst continues to criticize: Aptos knows something is wrong.

Between Genesis and 13:30, The Aptos team justified the current state of the network. The developers wrote via Discord that yesterday’s four transactions per second do not reflect the maximum TPS. A low network load is expected at the start of the leading network.

Once user activity on the network increases, the blockchain will reveal its true scalability, Aptos said.

Tokenomics of Aptos Raise Criticism Before Listing

Con FTX and Binance, the two top cryptocurrency exchanges worldwide supporting Aptos, announced that they would list the APT token tomorrow, Wednesday. Both open trading for spot pairs APT/BTC, APT/BUSD and APT/USDT at 1:00 p.m. ET. m. COORDINATED WORLD TIME. Tomorrow’s stock exchange listing will have to show whether the project can win the trust of the crypto community. In the previous period, there was strong criticism of tokenomics, which has yet to be made public to this day. Critics argued that it is not a good thing that FTX and Binance list APTs without token comic transparency.

Although a blog post addressed this criticism, question marks remain over the proliferation and release of APT in the years to come. 19% to main contributors, 16.50% to the Foundation and 13.48% to venture capital investors.

The community token pool is for things related to the ecosystem, such as B. Grants, incentives and other community growth initiatives. Some of these tokens have already been allocated to projects based on the protocol and will be awarded upon reaching certain milestones. Most of these tokens (410,217,359,767) are owned by the Foundation, with a smaller portion (100,000,000) owned by Aptos Labs.

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