Aptos: Is Solana-Killer Blockchain Broken?
Slow transactions are one of the most frustrating elements in the cryptocurrency industry. It takes a few transaction hours to process and is constantly subject to the operations of the native blockchain. Aptos claims to be able to tackle this problem. However, following the launch of the mainnet, the platform had a rocky start, performing slower than expected.
Aptos has lower transactions per second (TPS) than Bitcoin and most tokens are either staked or ready to be dumped on retail investors.
Aptos’ transaction speed
Apto’s main goal is to implement 100k TPS in its finished version. The blockchain is expected to perform Diem’s parallel execution technique. The parallel execution method involves simultaneous processing and verification of independent transactions. Many blockchains today operate under sequential execution, which follows a single line of transactions, processed one at a time.
However, Apto’s current TPs are somewhere around 4 transactions per second. In addition, many of the transactions are not actual transactions. They are just validators that communicate, set block checkpoints and write metadata to the blockchain.
During the launch, the community panned Aptos for having an opaque token financial structure. This means that the distribution of the Aptos tokens was unknown to everyone.
At the time of its launch on Monday, October 17, the company had not yet disclosed its token distribution.
The total supply of Aptos is 1,000,739,234.25. However, there is a bet of around 821,111,362.91. This indicates that the team and investors are in control of 80% of the token supply. However, it is not responsible for the remaining 200 m Aptos. This indicates that almost the entire token supply goes to private parties.
The fact that Aptos didn’t reveal its token model until right before the mainnet launch didn’t sit well with the community. The disclosure of the Aptos token structure and airdrop also did not go down well with the market. The value fell almost 50% from 13.73% at launch.
With the hype surrounding Aptos, the pressure was on the company to keep order and provide super-fast transaction times.
Private investors and core contributors will also have to deal with a four-year lockup of APT tokens after the mainnet launch. Such tokenomics are not exactly ideal and can put potential buyers off.
Vincent Munene is a freelance writer and a big blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return he enjoys educating people and keeping them updated on all things blockchain. He is a biochemist by profession and also loves to play the piano.