Blockchain
L1 Blockchain Aptos Sets New Transaction Record, Surpassing Solana with 115.4M Daily Transactions
Aptos, a layer-1 blockchain platform developed by former Facebook employees, has set a new record for blockchain transactions. On May 25, Aptos surpassed Solana by recording an astounding 115.4 million transactions in a single day, significantly exceeding Solana’s 31.7 million, as reported by Aptoscan.
This surge in transaction volume not only shattered previous records but also surpassed the previous L1 record of over 65 million transactions held by Sui Network by more than 50 million.
The exponential growth in transactional activity on Aptos underscores the platform’s increasing adoption and the overall momentum within the industry. Data from Aptoscan indicated that the blockchain’s user transactions per second (TPS) reached an all-time high of 32,000 on the same day. This highlights a significant increase in activity within the blockchain ecosystem, showcasing the platform’s scalability and robustness.
The recent surge in transactional activity on Aptos can be attributed to the launch of Tapos Cat, an innovative tap-to-earn game that quickly gained popularity. On its first day on the mainnet, Tapos Cat processed a staggering 10 million transactions, substantially contributing to the increased activity on the platform. Tapos Cat allows users to earn $HEART tokens by ‘tickling’ a virtual cat, encouraging frequent transactions within the game. Additionally, the game offers a gas-fee-free experience for the first 72 hours, incentivizing players to engage without incurring additional costs.
Criticism of Tapos Cat’s Long-Term Viability
Despite the impressive numbers, critics, including the CEO of Helius Labs, have questioned the long-term viability and practical utility of Tapos Cat. They argue that the game’s emphasis on click-and-buy interactions may artificially inflate metrics without genuinely meeting user needs.
However, proponents of Aptos argue that Tapos Cat serves as a crucial engineering project, demonstrating the scalability and robustness of the Aptos network and paving the way for future developments.
Recent Developments and Collaborations
In a move to strengthen its ecosystem, the Aptos Labs team recently introduced a group of global advisers, including David Lawee, former vice president of corporate development at Google. Additionally, Aptos Labs has partnered with Atomrigs Lab to announce plans for the launch of T Wallet, a Web3 wallet service, in collaboration with South Korean telecommunications operator SK Telecom (SKT).
Solana Among Fastest Blockchains
Solana remains one of the fastest large blockchains, processing a staggering 91 million transactions in a single day. On April 6, during the memecoin frenzy, Solana achieved a record-breaking daily average of 1,504 transactions per second (TPS). This makes Solana 46 times faster than Ethereum and over 5 times faster than Polygon, which has the highest TPS among Ethereum scaling solutions. Despite these impressive speeds, Solana has only reached 1.6% of its theoretical maximum speed of 65,000 TPS.
It is noteworthy that Ethereum scaling solutions and layer 2 solutions have yet to surpass other layer 1 blockchains in real processing speed. This slower realized TPS for Ethereum scaling solutions may be attributed to the lower number of on-chain transactions.
Source: cryptonews.com
The post L1 Blockchain Aptos Sets New Transaction Record, Surpassing Solana with 115.4M Daily Transactions appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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