Aptos, behind APT, a web3 coin, recently partnered with a giant company. According to a Wednesday blog post from Chingari, Indian Web-3 social video app Chingari has partnered with Aptos Blockchain to provide infrastructure support to its Web3 product base. Here are the details…
Important partnership announced for Web3 coin
Popular cryptocurrency project Aptos (APT) has announced its partnership with India’s major web3 app Chingari. The partnership, which will focus on the Solana-specific multi-chain platform, is scheduled to start in the second quarter of this year. According to the post, the version of the Chingari app that will launch on Aptos will offer “a more scalable experience with newer products.” However, legacy support will continue for Solana-based Chingari users.
Aptos reportedly invested in Chingari as part of the deal. Chingari CEO and co-founder Sumit Ghosh said the partnership is a stepping stone for the app’s plans to expand into new markets in the near future. Ghosh used the following statements:
A stronger reason why we partner with Aptos Labs is their massive social media ecosystem experience. The Chingari building’s impact on the Aptos Blockchain will pave the way for a strong foundation and case study in the Indian ecosystem before expanding into newer markets in the near future.
Work will be done to improve the platform
Chingari’s partnership with Aptos Blockchain also aims to streamline transactions, increase transaction speeds and strengthen the platform’s security. “Aptos is a perfect fit for Chingari’s needs by offering several key benefits, including increased scalability, security and speed,” Chingari said in a statement. The price of Chingari’s native token, GARI, rose roughly 48 percent to 8 cents a few minutes after the news of the partnership was published. Currently, the token was trading at $0.0783.
Aptos, on the other hand, has dropped 9% in the last 24 hours, changing hands at $14.39. The coin has lost value from $ 15.94 to $ 13.96 in the last 24 hours. As cryptokoin.com reported, Aptos is a layer 1 Proof-of-Stake (PoS) Blockchain that uses a new smart contract programming language called Move, a Rust-based programming language independently developed by Meta (formerly Facebook) Diem blockchain engineers. .
Aptos’ vision is a Blockchain that brings mainstream acceptance to the web3 and empowers a DApp ecosystem to solve real-world user problems. The PoS Blockchain can reach a theoretical throughput of more than 150,000 transactions per second (tps) through parallel execution.
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