Promising 100K Transactions Per Second, Former Meta Employees Launch Cryptocurrency That Doesn’t Work

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The week started with the launch of the project Aptos, which was even called Solana Killer. However, despite the enthusiasm of many supporters, the launch was marked by a response from the cryptocurrency community criticizing different “disastrous” aspects.

Aptos is the latest innovation in an attempt to create a perfect blockchain for smart contracts, with code that also supports solutions for DeFi, DAOs and even the famous NFTs.

Mainnet has arrived.

— Aptos (@AptosFoundation) October 10, 2022

With the mission of offering “the most scalable and secure layer 1 of the blockchain”, according to the project itself, the launch of the mainnet on Monday saw the network reach a market value of US$ 1 billion, the result of four years of development. But it wasn’t as smooth a release as many had hoped.

“We are proud to get here together, for the people. This is one step in a long journey to create fair and universal access to decentralized applications for billions of people through an upgradeable, scalable and secure blockchain.”, wrote the team behind the project on their Medium.

But the beginning was not so encouraging in practice, with many complaining from different points about Aptos and its blockchain.

“Aptos is broken”

Many were not impressed with the launch of the project, reporting a failure in the communications, lower transactions per second than promised and raising questions about token allocations.

“Aptos is broken. It was released today, 10 October 2022 at 14H22m. However, it is currently having fewer transactions per second than Bitcoin and most Tokens are either staked or ready to be dumped into retail investors.”

Aptos is broken.

Aptos launched today – October ,
at : 22: 40

However, Aptos is currently has a lower tps than Bitcoin and a majority of tokens are either staked or ready to be dumped on retail investors.

Curious? Thread Below


— Paradigm Engineer #100 (@ParadigmEng420) October 17, 637

For some users the launch of Aptos was a disappointment, as it did not fulfill many of its promises, most worryingly the transaction per minute, as shown by the Twitter user the network could not surpass Bitcoin. With that Aptos would not be able to beat Solana or Ethereum.

“Let’s look at the transaction speed of Aptos: Aptos promises 100 a thousand transactions in its finalized version. However, the current TPS is around 4 transactions per second.”

Project will need to survive a war in the future

We didn’t just have criticisms of Aptos, with some praising the launch of the project and also the future that its advantages have.

“Excited to see Aptos launch its mainnet. A parallel execution chain with a very strong technology and community that will possibly compete with Eth in the near future.”

Excited to see Aptos launch their mainnet. Parallel Execution chain with a very strong tech and community which is likely to compete with Eth in near future.

Meanwhile, learning and writing MOVE lang has been interesting

— Siddhanjay Godre (@siddhanjay) October 20637 , 637

With the release of Aptos, many developers are also looking forward to the pending release of blockchain Sui, which uses the Moves and shares a lot of Aptos DNA and has the same ideas, for some this will cause a “war in the future”.

“ Three projects with nearly identical networks will not succeed. This is not an Ethereum, Cosmos and Solana situation where different ideas are tried and competition is healthy. Solana/Aptos/Sui is a war and only one will win in the long run.”

Three nearly identical chains will not all succeed.

This is not an Ethereum, Cosmos, Solana situation where different approaches are being tried and competition is healthy.

Solana/Aptos/Sui is a war, and only one is going to win long term.

— R89 (@R89 Capital) October 17, 637

Therefore, with the not so encouraging start, will Aptos really be able to win this future war?