Leading blockchain analytics provider Nansen has partnered with Aptos to bring its onchain analytics and data to the Aptos ecosystem.
The new partnership aims to empower Aptos users and investors with onchain analytics tools to propel further growth and help identify the most trending areas of the ecosystem.
Nansen’s new Aptos Growth Dashboard will provide key insights into the health of the network, including active addresses, transaction volumes, daily contract deployments, and the five largest entities within the ecosystem.
Alex Svanevik, the CEO of Nansen, called Aptos the “fastest parallel blockchain,” in an announcement shared with Cointelegraph. He wrote:
“We’re excited to partner with Aptos, the fastest parallel blockchain, to deliver comprehensive onchain data and analytics to their thriving ecosystem. This collaboration will empower investors, developers, and crypto teams with the tools they need to delve deeper into the Aptos ecosystem.”
Blockchain analytics tools like Nansen make the cryptocurrency industry more transparent and publicly traceable, which is in line with the original ethos of Bitcoin (BTC) and decentralized technologies.
Aptos active users double in six months
The Aptos network saw significant growth during 2024, as active addresses increased over twofold, from just over 77,000 on Jan. 16 to over 186,000 active users on July 8.
The active user base doubles due to multiple factors, mainly related to the innovative tech stack of Aptos, according to Edward Wilson, an analyst at Nansen, who told Cointelegraph:
"As a novel Layer 1 blockchain with a strong development team and powered by innovative technology like the Move programming language, Aptos stands out from the crowd and this is reflected in the significant growth seen in its ecosystem."
Aptos also saw a surge in transaction volume, reaching a record of over 117 million transactions processed within a single day in May, surpassing Solana’s record daily transaction output of 31.7 million transactions.
The previous daily record among layer-1 (L1) blockchains was held by the Sui Network, which previously processed 65 million transactions within a single day.
Aptos and Coinbase simplify Web3 onboarding for mass adoption
Aptos is among the blockchain networks aiming to simplify the Web3 onboarding process, considered one of the biggest hurdles of mass crypto adoption.
At the beginning of July, Aptos launched a web-hosted keyless wallet application employing ZK-proofs to verify users. The new “Aptos Connect” allows users to interface with decentralized applications using a simple Google login, without needing hardware security modules or complicated seed phrases.
Popular crypto exchange Coinbase also launched a smart wallet with more beginner-friendly features to ease Web3 onboarding.
The industry needs to remove friction points to reach the next billion users, and the onboarding process is key, according to Chintan Turakhia, senior director of engineering at Coinbase.
Speaking exclusively to Cointelegraph at EthCC, Turakhia said:
“If our goal is to bring in the next billion users — and let’s start with just 100 million — we have to take all those friction points out.”
Some of the most pressing friction points include setting up a wallet with a complicated seed phase, paying transaction fees and buying blockchain-native tokens to transact on a network.