– Aptos’ market cap remained dominant over Algorand despite a dip in development activity.
– The project’s Chief Technology officer said innovation would roll out monthly.
Aptos [APT] core developers have been at the forefront of making the network seamless for users with a series of upgrades. During the week, precisely on 11 April, the blockchain, whose aim is to become the fastest and most scalable L1 protocol, announced an improvement in gas usage.
Realistic or not, here’s APT’s market cap in ALGO’s terms
The regular boat is to save the drop
Following the development, code commits on the Aptos blockchain significantly increased. As of 13 April, the commits rose as high as 33, according to Token Terminal. Code commits reveal the contributions of developers to a particular project.
However, at press time, the contributory activity decreased to 12.7.
Source: Token Terminal
This implies that the public GitHub repositories for Aptos have taken a backseat. But Avery Ching, Chief Technology Officer (CTO) of the project, had other opinions about the occurrences in the Aptos ecosystem.
Speaking to AMBCrypto, the CTO noted that Aptos was performing excellently with the upgrade it has made. He also mentioned that Aptos was solving a lot of problems older blockchains faced, and intends to do so monthly. Due to this, Ching said that major changes would be shipped to the Mainnet.
He said,
“It takes existing networks years to deploy significant changes to Mainnet; the Aptos community is now rapidly shipping major changes to Mainnet almost every month.”
The CTO also did not fail to comment on the gas efficiency, which would improve data storage and produce more savings per user transaction. He opined that the project’s core developers were committed to “reading transaction fees in response to the needs of builders.”
Developers will be engaged with execution
On 8 April, Pyth Network applauded the dedication of Aptos’ developers. The smart contract data provider tweeted that the upgrade has a positive effect on its own network.
The devs did something
Thanks to new gas optimizations, it’s now 85x cheaper to be #PoweredByPyth on @Aptos_Network
That’s 200+ price feeds readily available for just a couple of cents! https://t.co/I4YK4rnKUO
— Pyth Network
(@PythNetwork) April 8, 2023
Furthermore, when compared to other L1s like Cosmos [ATOM], and Algorand [ALGO], Aptos fared relatively well per market capitalization. The market cap explains the growing popularity of a project as the asset price and the circulating supply determine the value.
How much are 1,10,100 APTs worth today?
At the time of writing, the Aptos market cap rose to $2.4 billion. It was able to override Algorand in this regard but lagged behind Cosmos. This means that the blockchain, built with the Move programming language, received more attention than Algorand.
Source: Token Terminal
Ching made further comments on what to expect from Aptos in the coming months. He hinted that the blockchain would be crucial to advancements in the web3 sector. He also reiterated that the Move functionality would be key to the monthly Mainnet changes. He mentioned:
“Application developers and core developers are working very closely to take advantage of the new developer primitives, fast finality times and leading throughput to build new experiences.”
