Aptos’ new user growth hits 900% after integration with social media app Chingari

Chingari started moving to Aptos on July 6, looking for a boosted user experience following Solanas network failures in 2022. It likewise presented Chingaris brand-new wallet, which enables users to make tokens through engagement and material development on the platform. 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 everyday 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 Aptos blockchain has seen a rise of activity following its combination with Chingari, an Indian social networks platform previously powered by Solana. According to on-chain data, the number of new users jumped 900% over the previous month, as much as almost 90,000 onboarding on-chain day-to-day. Chingari started migrating to Aptos on July 6, looking for an improved user experience following Solanas network failures in 2022. “Solanas network downtime presented obstacles, engaging us to schedule lots of deals […] rather than allowing them to be instantaneous, to alleviate the threat of failed deals,” Sumit Ghosh, co-founder and CEO of Chingari, informed Cointelegraph.According to Ghosh, the integration with Aptos has enabled immediate on-chain features, such as virtual gifts, resulting in a rise of new users in current weeks. It also introduced Chingaris brand-new wallet, which permits users to make tokens through engagement and content production on the platform. The earned tokens can then be utilized to tip creators, increase material exposure, and purchase virtual gifts and nonfungible tokens. Aptos network activity over the past 30 days. Source: Aptos AnalyticsApart from enhanced functionality, Chingaris development depends on Indias 1.4 billion-person economy and the flourishing 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 everyday active users on the Aptos blockchain and 50% of all gas charges paid on the network, up more than 500% from the previous month. The number of transactions had actually likewise increased 150%, reaching almost 2 million day-to-day. If it continues at this pace, the business expects it will go beyond the life time overall of StepN, the second-largest decentralized application (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 overall of more than 200,000 APT paid as gas fees by the end of year one,” Ghosh estimated.Aptos is not the only blockchain gaining from DApps seeking much better on-chain efficiency and use across networks. Video game publisher Mythical Games recently moved from Ethereum to the Polkadot community, citing Ethereums slow transaction speeds and high deal costs.Magazine: Moral responsibility– Can blockchain actually enhance rely on AI?