The Aptos blockchain has seen an increase in activity following its integration with Chingari, an Indian social media platform formerly operated by Solana. According to on-chain data, the number of new users has increased by 900% in the past month, reaching almost 90,000 daily on-boardings.
In search of a better user experience following Solana’s 2022 network outage, Chingari began migrating to Aptos on July 6. “The network outage at Solana created challenges and forced us to plan for several transactions […] “The key is to mitigate the risk of failed trades rather than allowing them to occur directly,” 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, which has led to a flood 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. Earned tokens can be used to tip creators, increase content visibility, and purchase virtual gifts and non-fungible tokens (NFTs).
Apart from better usability, Chingari’s growth hinges on India’s 1.4 billion population economy and the massive 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 held 80% of all daily active users on the Aptos blockchain and 50% of all gas fees paid on the network, an increase of over 500% from the previous month. The number of transactions also increased by 150% to nearly 2 million per day. Continuing this momentum, the company expects to surpass the lifetime of Stepan, the second largest dApp on Solana, in the coming days.
if this growth continues […] We estimate that Chingari will reach 1.25 million users by the end of July, which is 10 times faster than Solana, over 20 million Series users by the end of the first year, and a total of over 200,000 APTs paid as gas costs by the end of Year 1”, estimates Ghosh.
Aptos is not the only chain that is taking advantage of DApps and is looking for better on-chain performance and usability across the network. Game publisher Mythical Games recently switched from the Ethereum blockchain to the Polkadot ecosystem, citing slow transaction speeds and high transaction fees on Ethereum.
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