Aptos’ sub-second E2E latency signifies how speed is “paramount” in web3

Aptos Weekly Overview - May 16, 2024

Welcome back to Aptos’ Weekly Overview. The best place for Aptos community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.

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By The Numbers

• Aptos transactions this week: 11.8M (+8%) 

• Network transactions per second (TPS): 19.5

• Active users: 355.3K (+21.8%) 

  • New users this week: 144.8K 

• Total staked APT: 846.78M (+0.6%) 

• Aptos total value locked (TVL): $333.2M (-3.2%) 

• NFT weekly sales: 73.8K (+272.9%) 

The percentages and metrics are based on a 7-day timeframe from Flipside data as of May 14, unless noted otherwise.

Inside the blockchain

🌐What happened: Earlier this week, Aptos Labs’ team announced the Aptos blockchain achieved user sub-second end-to-end (E2E) latency.

🌐Why does it matter: Fast transactions are arguably one of the most important features to blockchain users. In web3 and in the mainstream world, most people expect transactions to be done fast, whether it’s buying an item online or bridging assets onchain. Latency, which is the time it takes for something to be processed and actually delivered, plays a big role in speed and is “paramount for a great web3 user experience,” the team stated. 

This feat is something Aptos Labs has been working for a while, as Aptos processed a peak throughput of 30,000 transactions per second (TPS) and processed 2 billion transactions within 24-hours in its “previewnet,” a mainnet-like environment, back in December 2023.

“As we continue to innovate and push boundaries, it’s evident that we’re only at the beginning of this journey toward even faster blockchain solutions,” Aptos Labs said in a blog post. 

🌐The big picture: Aptos’ breakthrough signifies how blockchain technology is constantly evolving and major chains are implementing upgrades and changes to compete with high levels of speed and efficiency. 

More details on the user end-to-end latency benchmark and how to run it can be found here. The real time results from the benchmark can be viewed here.

Ecosystem wins 

• One million free NFTs were minted in about 4 hours on the Aptos blockchain by over 516.6K unique minters, showcasing the chain’s speed and capacity 

  • Check out details from Flipside data analyst Cristinatinto here 

• Aptos decentralized exchange (DEX) volume increased 512% quarter-over-quarter, Aptos Labs co-founder and CEO Mo Shaikh said on X

• Panora Exchange integrated with Cellana Finance to add another DEX to its platform

• Aptos weekly active contracts held near 300, maintaining multi-week momentum

The community is makin’ Moves  

• Blockchain developer X user panditdhamdhere explains Aptos key features in a 🧵

• Nightly app created Nightly Connect to connect mobile dApps and desktop clients on Aptos

• ICYMI: Thala Labs shared a breakdown of Messari’s State of Aptos Q1 2024 report

• Web3 gaming platform Eragon partnered with NFT marketplace Wapal to scale the sector for creators, collectors and investors in the Move ecosystem

By the headlines 

You might have seen these Aptos-related headlines recently…

• ICYMI: Messari released its State of Aptos Q1 2024 report 

• CertiK discovered $5M security flaw in Wormhole bridge on Aptos that was patched (Cointelegraph)

• Aptos Blockchain Sees Significant Growth Amid Market Challenges (CoinTrust)

Join in the fun   

Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation here. 

• Have a startup? List your company’s open roles on the Aptos Ecosystem Job Board 

• Register for the Aptos Community Meetup in Grand Cayman on May 21 from 6-8pm EST

• Join Aptos World Tour 2024 in Vietnam: June 7-8 for GM Vietnam 2024 

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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.