Chain News by Thebittimes.Com

Join Our Telegram channel to stay up to date on breaking news coverage A shareholder has penned an open letter to the CEO of Meta, Mark Zuckerberg. According to the shareholder, Meta’s investment into the metaverse was “super-sized and terrifying.” Shareholder concerned with Meta’s large stake in the metaverse The open letter was written by the CEO and founder of Altimeter Capital, Brad Gerstner. Altimeter Capital owns a stake of around 0.11% in Meta. Gerstner published the letter on October 24 and addressed it to Zuckerberg. According to the shareholder, Meta needed to reduce its investments in the metaverse and technology division amid a steady drop in Meta’s stock prices over the past 18 months. Gerstner has said that while Meta’s venture into the metaverse was crucial, it should not demand the amount of investment it was currently getting. He noted that Meta was dedicating $10 billion to $15 billion annually to its metaverse project. Ho...

Of late, there has been a lot of buzz going on around Aptos. The said project which was being worked upon for a period of 4 years, finally launched its mainnet yesterday. Source: Twitter In a recently released statement, Aptos said that the said launch marked “step one” of its long journey to create “universal and fair access to decentralized applications” via “a safe, scalable, and upgradeable blockchain.” Interestingly, the blockchain uses the programming language Move that’s intended to make transactions faster and cheaper. In fact, Move also powered the network of Meta’s now-defunct project Diem. Aptos Labs, interestingly, was created by former Meta employees Mo Shaikh and Avery Ching, who was involved in the failed blockchain project. TPS Backlash Since its launch, the project has been receiving a lot of backlash. Take the case of the transactions per second itself, for starters. Per FTX’s Aptos Research Report, ...