Crypto unicorn Aptos saw its token price plunge and its blockchain criticized after its public debut

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Aptos impressed venture investors with its promise of improved blockchain technology. But many enthusiasts and everyday investors weren't so wowed by the system's public debut.

Months after launching late last year, Aptos Labs became a unicorn by promising to offer a blockchain that was faster and more stable than rival efforts.

Shaikh expressed optimism that things will improve. The transaction pace is slow because the network is just starting, he said. It will pick up as more projects are built on the company's blockchain, he said.Aptos representatives did not immediately respond to a request for comment. The brouhaha was the result of the opening of Aptos' blockchain to the public on Monday and the beginning of public trading of its eponymous token on Tuesday.Tokens serve as the currency of blockchain projects. Blockchain operators sometimes sell them to investors to raise cash or issue them to developers or miners to reward them for participating in their ecosystems. Tokens can also be used to pay for services recorded on the blockchain.

Source: Digital Coin News (digitalcoinnews.net)

 

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