Aptos Blockchain Sees Surge of Activity Following Integration with Chingari
Aptos blockchain has seen a massive surge in activity following its integration with Chingari, an India-based social media platform that was previously powered by Solana. According to on-chain data, the number of new users skyrocketed 900% in the previous month, reaching nearly 90,000 daily onboardings.
Chingari began migrating to Aptos on July 6, in an effort to enhance the user experience after Solana’s network outages in 2022. Sumit Ghosh, co-founder and CEO of Chingari, explained to Cointelegraph that the downtime of Solana’s network posed challenges, prompting them to schedule many transactions instead of allowing them to be instant in order to minimize the risk of failed transactions.
The integration with Aptos enabled instant on-chain features, such as virtual gifts, which has likely contributed to the surge of new users on the social media platform in recent weeks. It also introduced Chingari’s new wallet, allowing users to earn tokens through engagement and content creation on the platform. The earned tokens can then be used to tip creators, boost content visibility, purchase virtual gifts and nonfungible tokens (NFTs).
Apart from the improved usability, Chingari’s growth is also driven by the massive population of India and the increasing popularity of cryptocurrencies in the country. According to Chainalysis, India is at the forefront of crypto adoption in the South Asian region.
Cryptocurrencies on Blockchains
As of July 14, Chingari had become the leader of daily active users on the Aptos blockchain, accounting for 80% of all users and 50% of all gas fees paid, a growth of over 500% from the previous month. The number of transactions had risen by 150%, reaching almost 2 million a day. If the current rate of growth continues, Chingari is projected to surpass the lifetime total of Stepn, the second-largest DApp on Solana, in the near future. The company also anticipates reaching 1.25 million users by the end of July, 10x faster than on Solana, and a cumulative total of more than 20 million users and 200,000 APT paid as gas fees by the end of the first year.
The Ethereum blockchain is not the only one to benefit from DApps seeking better on-chain performance and usability across networks. For example, game publisher Mythical Games recently moved from Ethereum to the Polkadot ecosystem due to slow transaction speeds and high transaction costs on Ethereum.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments