Chingari’s Transition to Aptos Blockchain Results in 900% Surge in User Base
In recent weeks, Aptos, a layer 1 blockchain platform, has witnessed a remarkable surge in activity following its integration with Chingari, a former Solana-powered social media platform based in India. According to on-chain data, the number of new users on this blockchain layer 1 has skyrocketed by an astonishing 900% compared to the previous month, with close to 90,000 active users daily on the Aptos network.
The surge in activity comes after Chingari made a strategic move to transition to the Aptos ecosystem on July 6th, aiming to attract more users and enhance their overall experience after the Solana network’s shutdown in 2022.
“During the downtime of the Solana network, we faced challenges that led us to make the decision to leave it. However, everything was scheduled and arranged appropriately to mitigate risks rather than rushing,” shared Sumit Ghosh, Co-founder, and CEO of Chingari.
Ghosh explained that the integration with Aptos activated various on-chain features, such as digital gifting, which subsequently fueled the exponential increase in new users on the social media platform in recent weeks. Additionally, Aptos also launched a new Chingari wallet, allowing the community to earn tokens through interactions and content creation on the app. These tokens can be used to tip content creators, increase content interaction, and even provide opportunities to receive NFT rewards.
As of July 14th, Chingari now accounts for 80% of the total daily active users on Aptos and 50% of the total gas fees paid on the network. These numbers have surged by 500% compared to the previous month. Moreover, the number of transactions on this layer 1 blockchain has also risen by 150%, reaching nearly 2 million transactions per day. If this growth trajectory continues, the company predicts that Chingari will surpass STEPN, the second-largest dapp on the Solana network, in terms of active users.
“If this growth trend persists, we anticipate Chingari reaching 1.25 million users by the end of July, over 10 times faster than Solana. Consequently, Aptos will have over 20 million users and accumulate more than 200,000 APT tokens as gas fees by the end of 2023,” estimated Ghosh.
Aptos is a layer 1 blockchain platform that focuses on developing a secure network accessible to a vast user base worldwide. It is not the only network benefiting from dapps within its ecosystem. Recently, game developer Mythical Games also migrated from the Ethereum blockchain to Polkadot due to the latter’s faster transaction speeds and lower fees.
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