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
Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees
Kyrrex, a crypto ecosystem, is thrilled to announce its official launch in the United States. With operations now live in ten states, Kyrrex is poised to offer American users a platform for cryptocurrency trading, payments, and wallet management.
Kyrrex’s U.S. platform enables users to buy and trade cryptocurrencies with competitive commissions of just 0.2%, making crypto transactions efficient and cost-effective. Available in California, Colorado, Hawaii, Utah, Indiana, Wisconsin, Missouri, Montana, Massachusetts, and Wyoming, Kyrrex is rapidly expanding to other regions across the U.S.
“We’re incredibly excited to bring Kyrrex to the U.S. market,” said Mike Romanenko, CVO & Co-Founder at Kyrrex. “Our platform is designed to offer American users a safe and reliable way to manage all their crypto needs, and we look forward to growing our presence across the country.”
Why the U.S. Market Matters for European Crypto Companies
The U.S. represents one of the largest and most dynamic crypto markets in the world. As of 2024, the U.S. accounts for over 25% of global cryptocurrency activity, driven by increasing institutional investment and mainstream adoption. The approval of Bitcoin exchange-traded Funds (ETFs) has boosted institutional interest significantly, signaling a shift toward greater acceptance of cryptocurrencies as full-fledged assets. By 2025, the U.S. crypto market is expected to see substantial growth, with estimates projecting a compound annual growth rate (CAGR) of over 12% in the sector, supported by both retail and institutional demand. For companies like Kyrrex, entering the U.S. market is a strategic move to expand user reach and tap into this rapidly evolving landscape, which offers vast potential for innovation and growth.
Kyrrex’s expansion into the U.S. is a testament to the company’s commitment to building a global crypto ecosystem that connects crypto-related services in one platform. By providing American users with access to a platform that offers crypto trading, wallet services, and low-fee purchases via debit and credit cards, Kyrrex is positioned to be a responsible player in the U.S. market. After six years of building a comprehensive crypto ecosystem, the company continues to lead with regulatory compliance. Today, Kyrrex’s achievements include:
- Saint Vincent and the Grenadines: Kyrrex Limited is registered and recognized by the SVG Financial Services Authority, providing a foundation of trust and security;
- Malta: REX, part of the Kyrrex ecosystem, obtained a prestigious VFA Class 4 license in 2021, allowing the platform to offer Virtual Financial Assets (VFA) services while maintaining the highest European regulatory standards;
- United States: Kyrrex is registered with FinCEN as a Money Services Business (MSB) and is available in 10 U.S. states, including California, Massachusetts, and Utah.
Kyrrex ecosystem is also preparing for future regulatory changes by applying for a Class 3 MiCA (Markets in Crypto-Assets) license and an EMI (Electronic Money Institution) license in Malta and the U.K. Also, the company applied for an Investments Services license, which will enable brokerage services from and within Malta. This strategic approach ensures that Kyrrex will continue to offer secure and compliant services across multiple jurisdictions.
“Kyrrex’s entry into the U.S. comes at a critical time as regulations around cryptocurrency continue to evolve. The company’s commitment to regulatory compliance demonstrated through adherence to U.S. state law, positions Kyrrex as a responsible and reliable platform for American users. As part of Kyrrex’s mission, we will continue working closely with U.S. regulators to ensure that our platform remains compliant with the highest regulatory standards.”, stated Mr. Romanenko from Kyrrex.
With plans to expand into more states and enhance its service offerings, Kyrrex is dedicated to reshaping the operations of digital assets by providing users with secure, efficient, and regulated crypto solutions.
The post Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees appeared first on HIPTHER Alerts.
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