The Aptos blockchain has to handle an incredible 160,000 transactions per second (TPS) and is currently handling a fairly small amount of 4 TPS.
Aptos launched its mainnet on October 17th, but the blockchain created by former Meta-employees is not ready. After a series of private funding rounds that raised $350 million, the company is now said to be worth between $1-4 billion, depending on who you ask.
If the project is to meet those large numbers now, it will need to solve its current problems faster.
Aptos the Solana Killer
Aptos (APT), unwittingly referred to as the ‘solana killer’ by some quarters of the internet, has already made a huge mark but for all the wrong reasons.
At press time, the Layer-1 protocol was only managing a small fraction of its advertised throughput, leading to speculation that project development was running behind schedule. The Aptos “Parallel Execution Engine” was supposed to deliver an impressive 160,000 TPS, but at press time, it could only churn out a pathetic 4 TPS.
Popular crypto investor “Mac” reveals his 260K+ Twitter followers Tuesday That problem is with the network itself.
“The launch feels too early because the network isn’t working properly,” Mack said. According to Mack, Aptos forcefully took his hand. The project had to launch the mainnet in October or risk “litigation according to the contract”.
After fulfilling that commitment, the cracks are starting to show.
Aptos. Controversial Tokonomics of
Another major cause for concern is Aptos’ controversial coin, which appears to be highly centralized and has been poised for a huge huge dump in the market.
As explained by Twitter User Paradigm Engineer Tuesday: “The total supply of Aptos is 1,000,739,234.25, however, there are currently 821,111,362.91 at stake. This means that a little over 80% of the token supply is controlled by the team and investors, as neither mainnet earns Aptos tokens.” There was airdrop and there was no other way.”
The question is where the remaining $200 million APT is hidden, leading to speculation that these tokens are set aside for dumps in the larger market.
“The point is, with almost the entire token supply going to private parties, there was no public sale or any other way where users could earn tokens,” the Paradigm engineer said.
according to the reporter jihan wuAptos is now trying to persuade partners, including Binance, to delay the perpetual contracts starting October 19th.
Must include Binance and other exchanges bitfinex, coinbase, Huobi And others ignore those pleas, a large number of investors may decide to bet against the troubled project.
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