Alisa Davidson
Published: October 18, 2024 at 11:51 am Updated: October 18, 2024 at 12:58 pm
Edited and fact-checked:
October 18, 2024 at 11:51 am
In Brief
Aptos marks two years since mainnet launch, recording 27.7 million active addresses and a total of 1.7 billion transactions, setting industry benchmarks.
The Layer 1 blockchain platform Aptos marked two years since the deployment of its mainnet, sharing achievements from this period.
With 27.7 million active addresses and a total of 1.7 billion transactions, Aptos has set industry benchmarks, encompassing a record 326 million transactions processed in one day during Q3 2024. The network sustained a peak of 13,367 transactions per second (TPS) on its mainnet without experiencing failures, delays, or spikes in gas fees, placing it among the top four blockchains for daily transactions.
Additionally, the network experienced a fivefold increase in Total Value Locked (TVL) year-to-date, driven by a thriving ecosystem of over 250 projects that are expanding the network’s potential. This growth has been further supported by more than $150 million in funding from the Aptos Foundation, aimed at fostering innovation for more than 165 initiatives.
Aptos’ technology stack continues to develop, with this year’s introduction of Move 2, an upgrade to the Move programming language designed to simplify decentralized finance (DeFi) application development. Furthermore, Aptos Labs has also unveiled Raptr, an advanced consensus protocol, along with Block-STM v2—a parallel execution engine that promises efficient scaling while ensuring sub-second latency, low gas fees, as well as strong security.
Aptos To Build New Global Economy, Integrating Tether And USDY Stablecoins
Aptos operates as a Proof-of-Stake (PoS) network, which utilizes the Move programming language for executing transactions on its virtual machine (VM). Its consensus mechanism, AptosBFT, is designed with Byzantine Fault Tolerance (BFT), allowing it to operate effectively even if fewer than one-third of the validators behave dishonestly.
The infrastructure provided by Aptos is geared toward supporting the next trillion-dollar economy. With capabilities to offer fast, affordable, and reliable payments, the network is set to manage financial transactions on a global scale. This is evidenced by the upcoming integration of stablecoins, encompassing Tether and USDY into the Aptos ecosystem, which aims to guarantee that money can be transferred securely and efficiently across borders while incurring minimal fees.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
As Aptos continues to innovate and push boundaries in the blockchain industry, its achievements and milestones speak volumes about the future of decentralized finance. With a strong commitment to technological advancement and a drive to create a more inclusive global economy, Aptos is positioning itself as a key player in reshaping the financial landscape.
For more exciting news and updates on the world of decentralized finance, be sure to visit DeFi Daily News. Stay informed and inspired by the latest trends and insights from the world of cryptocurrency and blockchain technology!
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