Aptos, a layer-1 blockchain backed by FTX is getting flak for failing to deliver its claim of scalability after its release.
On October 17, the layer-1 blockchain developed by ex-Meta personnel debuted its mainnet “Aptos Autumn.”
Prior to debut, it promised an unprecedented maximum speed of 160,000 transactions per second (TPS).
But, the Aptos explorer has shown that it can only process approximately four transactions per second — in comparison to Bitcoin’s 10 TPS.
Twitter user @ParadigmEng420 said that “Aptos currently has a lower tps than Bitcoin and a majority of tokens are either staked or ready to be dumped on retail investors.”
Aptos is broken.
Aptos launched today – October 17, 2022 at 14:22:40
However, Aptos is currently has a lower tps than Bitcoin and a majority of tokens are either staked or ready to be dumped on retail investors.
Curious? Thread Below
👇— Paradigm Engineer #420 (@ParadigmEng420) October 17, 2022
Aptos now has 102 validators who are the network’s principal consumers and facilitators of the recorded 4 TPS.
Having been said, Aptos engineers revealed on Discord that the 4 TPS displayed does not represent Aptos’ maximum TPS. They mentioned that the low TPS is due to a lack of network activity.
The true scalability of Aptos will be apparent as soon as user activity begins on the network.
Many crypto venturing businesses, namely a16z, Binance, and FTX, were won over by Aptos when it made the commitment to provide unmatched scalability using its innovative Move coding language.
The unsuccessful Diem blockchain project by Meta has given birth to Aptos, which claims to be developing a highly scalable, decentralized, and cost-effective blockchain system that will promote Web3 usage.
FTX Ventures and Jump Crypto led the $150 million Series A funding round for the blockchain business in support of the goal of Aptos.
With a $2 billion valuation, Aptos has all the capabilities required to build out its infrastructure and make sure the low TPS seen on release day does not recur.
