Aptos

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Layer-1 blockchain Aptos Network suffered a network glitch that made it impossible to process transactions for over five hours in the early hours of today, Oct. 19, according to <a href="https://aptoscan.com/" rel="noopener noreferrer nofollow">information</a> on AptoScan.
Although normal operations have resumed, the project officially acknowledged the interruption in a statement posted on the social media platform X (formerly Twitter), <a href="https://x.com/Aptos_Network/status/1714799744231539064?s=20" rel="noopener noreferrer nofollow">confirming</a> that “transactions on the network have been impacted.”
This incident prompted cryptocurrency exchanges <a href="https://upbit.com/service_center/notice?id=3788" target="_blank" rel="noopener noreferrer nofollow">Upbit</a> and <a href="https://www.okx.com/help/okx-announcement-on-scheduled-maintenance-for-aptos-network" rel="noopener noreferrer nofollow">OKX</a> to temporarily halt deposits and withdrawals of Aptos Network tokens on their platforms.
Aptos has not released a detailed post-mortem explaining the cause of the disruption. However, it humorously attributed the incident to its users’ “energy for Aptos One.”
<h2 id="aptos-mainnet-at-one-year">Aptos mainnet at one year.</h2>
This week, the Aptos community celebrated the mainnet network’s first-anniversary launch by trending the Aptos One hashtag on social media platforms.
Aptos is a venture capital-backed project that launched on Oct. 17, 2022. The project was built by former Meta employees who <a href="https://medium.com/aptoslabs/block-stm-how-we-execute-over-160k-transactions-per-second-on-the-aptos-blockchain-3b003657e4ba" rel="noopener noreferrer nofollow">promised</a> the layer one network would deliver unparalleled scalability by leveraging its novel Move programming language.
However, one year into its mainnet launch, the project has <a href="https://cryptoslate.com/ftx-backed-aptos-blockchain-under-fire-for-low-scalability-on-launch-day/" rel="noopener noreferrer nofollow">yet to deliver</a> its promised speed of&nbsp;<a href="https://medium.com/aptoslabs/block-stm-how-we-execute-over-160k-transactions-per-second-on-the-aptos-blockchain-3b003657e4ba" rel="noopener noreferrer nofollow">up to 160,000</a> transactions per second (TPS), as it only processes around 33 TPS, according to AptoScan. Its team <a href="https://x.com/Aptos_Network/status/1714016273410281933?s=20" rel="noopener noreferrer nofollow">claimed</a> that its throughput peaked at 5,862 TPS.
Regardless, the blockchain network has recorded notable milestones during the past year, including securing <a href="https://cryptoslate.com/microsoft-and-aptos-labs-partnership-sends-apt-token-soaring/" rel="noopener noreferrer nofollow">partnerships</a> with technological giants like Microsoft and processing more than 300 million transactions. Additionally, its community has minted over 2 million NFTs on the network.
<h2 id="apt-price-is-45-down">APT price is 45% down.</h2>
Over the past year, Aptos’ APT token has fallen by around 45% during the past year, according to Tradingview <a href="https://www.tradingview.com/symbols/APTUSD/" rel="noopener noreferrer nofollow">data</a>.
The digital asset <a href="https://cryptoslate.com/aptos-surges-343-to-new-all-time-high-amid-renewed-interest-in-l1-blockchains/" rel="noopener noreferrer nofollow">soared to $18 this January</a> after majorly <a href="https://cryptoslate.com/heres-why-aptos-apt-crashed-45-on-first-day-of-trading/" rel="noopener noreferrer nofollow">trading under $10 post-launch</a>. However, the project has faced significant headwinds with the release of new tokens, which has exerted more <a href="https://cryptoslate.com/aptos-down-4-as-4-5m-apt-token-unlock-nears/" rel="noopener noreferrer nofollow">selling pressure</a> on the market.
APT was trading for $5.00 as of press time.
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/aptos-network-faces-5-hour-transaction-outage-on-first-anniversary/">Aptos Network faces 5-hour transaction outage on first anniversary</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Aptos Network faces 5-hour transaction outage on first anniversary

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