Sluggish transactions are one of the most frustrating elements of the cryptocurrency industry. It takes some transactions hours to process and is constantly subject to the business of the native blockchain. Aptos claims to be able to tackle this issue. However, after the mainnet launch, the platform was in for a rocky beginning, performing more slowly 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
Aptos’ main aim is to undertake 100k TPS in its finalized version. The blockchain is expected to carry out 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, Aptos’ current TPs are somewhere around 4 transactions per second. Additionally, many of the transactions are not actual transactions. They are merely validators communicating, setting block checkpoints, and writing metadata to the blockchain.
During its launch, the community panned Aptos for having an opaque token economic structure. This means that the distribution of the Aptos tokens was unknown to everybody.
Upon its launch on Monday, 17th October, the company had not yet revealed its token distribution.
The total supply of Aptos is 1,000,739,234.25. However, there is a stake of around 821,111,362,91. This indicates that the team and investors have control over 80% of the token supply. However, there is unaccountability of the remaining 200m Aptos. This indicates that nearly the entire token supply is going to private parties.
The fact that Aptos did not reveal its token model until right before its mainnet launch did not go over well with the community. The reveal of the Aptos token structure and the airdrop did not go over well with the market either. The value dropped almost 50% from 13.73% at launch.
With the hype surrounding Aptos, the pressure was on the company to stick to its word and provide superfast transaction times.
Private investors and core contributors will also have to deal with a four-year lockup of the APT tokens after the mainnet launch. Such tokenomics are not precisely ideal and may put potential buyers off.
Vincent Munene is a freelance writer and a great blockchain enthusiast. Blockchain has changed his life in terms of financial freedom and in return, he likes to educate people and keep them up to date on everything blockchain. He is a Biochemist by profession and also loves to play the piano.