The Aptos blockchain has seen a surge of activity following its integration with Chingari, an India’s social media platform previously powered by Solana. According to on-chain data, the number of new users jumped 900% over the previous month, up to nearly 90,000 daily on-chain onboarding.
Chingari started migrating to Aptos on July 6, seeking an enhanced user experience following Solana’s network outages in 2022. “Solana’s network downtime posed challenges, compelling us to schedule many transactions […] Rather than allowing them to be instant, to mitigate the risk of failed transactions,” Sumit Ghosh, co-founder and CEO of Chingari, told Cointelegraph.
According to Ghosh, the integration with Aptos has enabled instant on-chain features, such as virtual gifts, leading to a surge of new users on the social media platform in recent weeks. It also introduced Chingari’s new wallet, which allows 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, and purchase virtual gifts and nonfungible tokens (NFTs).
Apart from the improved usability, Chingari’s growth relies on India’s 1.4 billion-people economy and the booming popularity of cryptocurrencies in the country. According to Chainalysis, India is at the forefront of crypto adoption in the South Asian region.
As of July 14, Chingari accounted for 80% of all daily active users on the Aptos blockchain and 50% of all gas fees paid on the network, up more than 500% from the previous month. The number of transactions had also risen 150%, reaching almost 2 million a day. Continuing at this pace, the company anticipates surpassing the lifetime total of Stepn, the second-largest DApp on Solana, in the coming days.
“If this growth continues […] We project that Chingari will reach 1.25 million users by the end of July, which is 10x faster than on Solana, over 20 million on chain users by the end of the first year, and a cumulative total of more than 200,000 APT paid as gas fees by the end of Year 1,” estimates Ghosh.
Aptos is not the only chain benefiting from DApps seeking better on-chain performance and usability across networks. Game publisher Mythical Games recently moved from the Ethereum blockchain to the Polkadot ecosystem, citing slow transaction speeds and high transaction costs on Ethereum.
Magazine: ‘Moral responsibility’ — Can blockchain really improve trust in AI?
Comments (No)