The mainnet debut of Aptos, the newest cryptocurrency, this week generated a lot of noise due to its token airdrop for early adopters, but it also prompted concerns about the network’s ability to live up to the hype after receiving $350 million in venture capital funding.
However, as a flood of NFT projects gets ready to start on the network, the first major test of blockchain may be just around the corner. How would Aptos fare if demand for its NFTs matches the craze? NFT trading has always placed a significant burden on the Ethereum and Solana networks.
When Aptos first went live on Monday, it could only handle a small number of transactions per second. The figure is now shifting by 10 TPS.
Among the top smart contract frameworks, Ethereum manages about 30 TPS on its mainnet and Solana over 3,000 TPS, which are used to power decentralized apps. However, testnet claims don’t often correspond to actual circumstances on the ultimate public mainnet. Take Solana, which once asserted hundreds of thousands of TPS on its testnet.
On Tuesday, Mo Shaikh, a co-founder of Aptos, tweeted that the “current TPS is not representative of network capacity” because it was the network’s “idle time” before projects went online. As there is more activity, this number is anticipated to rise. In other words, Aptos isn’t doing anything right now, but it will be running soon.
Aptos Marketplaces Active to Host Collections
As Aptos users are set to mint their first NFTs, this increased activity might be just around the corner. Dedicated Aptos marketplaces are already active and host a few collections. Additional collections, several of which have gained significant attention on social media, are anticipated to go on sale this week and the next week.
Topaz, one of the exchanges that already support trading for a few collections, including the clone of CryptoPunks Aptos Punk, announced on Thursday morning that it has already handled transactions totaling over $87,000 worth of 12,000 APT and 3,700 NFTs listed on its platform.