Jamie McNeill
Despite the large amount of hype that the team behind Aptos was able to generate upon launching their new coin, the price has not fared well and the intense level of scrutiny that the project has come under has meant that investors are fleeing the project in droves.
Aptos is extremely centralised
The entire cryptocurrency movement has been predicated on the notion that decentralisation is a good thing because it removes single points of failure and allows for individuals to participate in a thriving ecosystem that cannot easily be tampered with.
Aptos was founded by two former Facebook employees who were working on Diem, before the project was discontinued thanks to regulatory pressure from organisations such as the EU, who believed that Facebook’s desire to create a currency would have hugely negative implications with regard to their monopolistic status.
Nevertheless, the blockchain backed by a series of VCs decided that decentralisation wasn’t going to be one of their USPs, and the project has launched despite a highly centralised consensus managed by just a handful of people.
Aptos’ transaction throughput isn’t nearly as high as claimed
One of the main attractions to the Aptos blockchain in the first place was the promise that the blockchain would be able to process in excess of 100,000 transactions per second, making it one of the fastest blockchains in the entire space.
Unfortunately, it has since emerged that these figures were completely ficititious, and many investors have been left disappointed by the statistics, which weren’t just misleading – they were completely false.
In actuality, the Aptos blockchain is only able to process four transactions per second.
Everyone is dunking on Aptos' 4 transactions per second
But that's still 4x more than Cardano
— Evan Van Ness (@evan_van_ness) October 19, 2022
The tokenomics have been extremely shady
One of the main critiques that has been levied at the project hasn’t been the lacklustre technology underlying the project, but the fact that the the actual operations of the project thus far have been conducted in an unseemly manner.
The Binance and FTX exchanges both listed APT before the team had publicly released information about the tokenomics. Coincidentally, Binance and FTX were both early-stage investors in Aptos.
This is hugely problematic for a project that hopes to operate at such scale, especially when one considers that investors cannot feasibly know what they are buying.
When the tokenomics were eventually released, they were a huge disappointment – the Aptos team and insiders own 80% of the tokens, with those being traded on the market an extremely small part of the supply. The shockingly high degree of concentration in token distribution has caused extreme concern amongst investors, and the price has subsequently continued to fall.
IMPT
However, there are many altcoin alternatives that may be far more appealing for investors looking for a high degree of ROI.
IMPT is a project that may have far more potential than Aptos in terms of relative price appreciation, with a far better token distribution and product market fit.
Unlike Aptos, which is attempting to confront preexisting giants with far superior technology in the space of Turing complete blockchains, IMPT is pioneering an entirely new section of the crypto industry – the intersection of carbon credits and cryptocurrencies means that the project has extremely large potential to grow going forward.
TAMA
Another project that has been gaining a lot of traction recently is the play to earn sensation Tamadoge, which has been capitalising on the hype surrounding puppy-themed meme coins.
Tamadoge successfully raised $19m at its presale, and since then the project has been going from strength to strength, with the team having released NFTs and begun work on building the custom-designed metaverse, known as the Tamaverse.
D2T
Dash 2 Trade is another project that has shown incredible potential over the past few weeks, and has recently passed the milestone of having raised $2m.
Dash 2 Trade is a bespoke trading platform designed to provide a variety of utility to retail traders that they wouldn’t normally have, including exchange listing alerts, price alerts, social sentiment and opportunity to curate their own trading strategies with backtesting.
Relevant news:
- Aptos Price Prediction – Can the Ethereum Killer Succeed Where Others Have Failed?
- Are Crypto Prices Set to Soar After China Stocks Crash, Yuan Sells Off?
- 12 Best Altcoins to Invest in 2022 – Which New Altcoins to Buy?
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members
This article was written for Business 2 Community by Jamie McNeill.
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