Aptos is a Layer 1 blockchain with high scalability, strong security, and low costs. The project is developed by a team from the stablecoin project Diem, created by Meta, and has raised over $300 million.
So, what makes Aptos unique? Let’s delve into the details in the following article with AZCoin.
What is Aptos?
Aptos is a Layer 1 blockchain with high scalability, high reliability, and low costs. Developed by the Aptos Labs team, Aptos aims to address issues related to reliability, scalability, and usability that have been challenging existing Layer 1 blockchains.
Aptos is built on Move language, a programming language developed for Meta Facebook’s former project Diem, which was canceled due to legal issues. Aptos can achieve over 130,000 TPS thanks to the BlockSTM parallel execution tool with low transaction fees.
Aptos might compete with some of the listed coins like Ethereum, Solana, Avalanche,…
Key features of Aptos
Utilizes a flexible and secure programming language
Move is designed to manage resources securely and execute transactions deterministically and privately. This means transaction outcomes are predictable and based solely on information within the transaction. Additionally, Move can defend against DOS service disruption attacks at the transaction execution level.
Scalable and low-lag
Aptos employs parallel transaction processing and modular methods.
This means crucial stages of transaction processing, such as transaction transmission, metadata sorting, parallel transaction execution, storage, and ledger authentication checks, all occur simultaneously, maximizing hardware processing capabilities, improving resource utilization efficiency, and enabling efficient processing of multiple transactions concurrently.
As a result, Aptos achieves significantly high performance goals and low latency.
Secure and reliable
To minimize hacking risks and user private key loss, Aptos supports flexible private key changes for all accounts to enhance security. Validators also have the ability to periodically change their consensus keys to enhance security.
Uses BFT consensus protocol
Byzantine Fault Tolerance (BFT) is a method to ensure that a distributed system can achieve consensus or agreement even when some nodes or members are faulty or malicious.
It relies on the idea that as long as more than two-thirds of nodes are honest and reliable, the system can ignore faulty or malicious nodes and continue to operate. By using BFT, Aptos has minimized issues with blockchain, ensuring stable operation and accurate consensus.
Reviewable transaction before approval
Current cryptocurrency wallets provide little transparency about transactions. Therefore, users are often vulnerable to signing transactions that can steal assets and have serious consequences.
To address this issue, Aptos has introduced transparent transactions before signing, providing users with information about the outcome of transactions in a readable format before signing. Combined with a history of previous attacks and malicious smart contracts, this will help minimize asset loss for users.
Furthermore, Aptos also allows wallets to enforce constraints on transactions during execution. Violating these constraints will result in transaction cancellation, protecting users from malicious applications or wallet attacks.
Aptos Ecosystem
DeFi
Decentralized Finance (DeFi) plays a crucial role in any ecosystem, and Aptos is no exception. The DeFi sector on Aptos is still in the building phase with many projects yet to launch their tokens. Some notable DeFi projects in the Aptos ecosystem include:
- Pontem Network: Leading DEX platform on Aptos
- Hippo Aggregator: First DEX on Aptos
- Aries Market: All-in-one decentralized financial platform for lending, borrowing, and leverage trading
- BaptSwap: Focuses on providing secure methods for individuals and businesses to develop innovative projects in the crypto space
- SwapGPT: AI-supported DeFi liquidity manager and aggregator
- Abel Finance: Crosschain lending platform built on Move language
- Amnis Finance: Pioneering liquidity staking protocol on Aptos, audited by MoveBit and Verichain
Wallet
There are several wallet applications supporting the Aptos Blockchain. Notable wallets in the Aptos ecosystem include Aptos Wallet, Pontem Wallet, Rise Wallet, Martian Wallet, Blocto, Flipper, Fewcha Wallet.
Launchpad
Currently, there are 2 active launchpad projects on Aptos: Aptopad and Thala Launch.
Marketplace
- Mercato: Fastest and most comprehensive NFT aggregator tool on Aptos for NFT traders
- BlueMove: Leading Multichain NFT marketplace on Aptos
- Topaz: Premiere NFT platform built on Aptos
- Souffl3: The leading NFT ecosystem on Aptos and Sui
Bridge
Aptos integrates bridge technology from reputable projects like LayerZero, Wormhole, Celer, and Mover, allowing asset transfers between EVM and non-EVM blockchains.
NFTs and Gaming
- Aptos Arena Game KilltoEarn is a shooting game where players earn rewards in APT tokens based on their kills.
- Aptos Art Museum is the first metaverse art exhibition room in the Aptos ecosystem.
- Proud Lions Club is a PlaytoEarn game centered around lion warrior themes, initially built on the Ethereum blockchain and later moved to Aptos.
- Werewolf vs Witch is a decentralized NFT war-themed game on Aptos.
If you’re interested in trading Aptos, you can refer to our the best crypto exchanges 2024 page.
Development Roadmap
In a recent announcement, Aptos revealed that in 2024, the project will continue to develop and enhance the Web3 user experience by promoting innovation, ensuring security, and efficiently scaling up.
Development Aptos Team
Aptos was established by Aptos Labs, a company co-founded by Mo Shaikh and Avery Ching. Prior to founding Aptos Labs, Mo and Avery, along with other colleagues, collaborated at Meta on the Diem blockchain project.
They drew upon their experience and expertise gained from this project to create Aptos Labs, aiming to further develop and refine the technology they had initially designed for Diem.
Investors and Partners
Investors
Aptos completed its first funding round in March 2022, raising $200 million. The investment was led by a16z Crypto, with participation from well-known VCs such as Multicoin Capital, Hashed, Tiger Global, FTX Ventures, Coinbase Ventures, and other investment funds.
On July 25, 2022, Aptos announced another funding round of $150 million led by FTX Ventures and Jump Crypto, with participation from Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, Superscrypt, and continued support from a16z and Multicoin.
Partners
Aptos has been expanding its partnerships with major players in both the crypto and traditional finance sectors, including Alibaba Cloud, Microsoft, Thala Labs, Flowcarbon, Sushi, and Google Cloud.
Tokenomics
Token metric
- Token Name: Aptos
- Symbol: APT
- Blockchain: Aptos
- Contract Address: 0x1aptoscoinAptosCoin
- Total Supply: 1,000,000,000 APT
Token Allocation and Distribution Schedule
The APT token is allocated and distributed as follows:
- Community: 51.02 million unlocked at TGE, then linear vesting of 0.625 every month over 10 years
- Foundation: 16.5 million unlocked at TGE, then linear vesting of 0.808 every month over 10 years
- Strategic round: 19 million locked for 1 year, then vesting of 6.25 from month 13 to month 18. The remaining portion will have linear vesting of 2.08 every month.
- Series A round: 13.5 million locked for 1 year, then vesting of 6.25 from month 13 to month 18. The remaining portion will have linear vesting of 2.08 every month.
Additionally, token stakers will receive validation rewards. The maximum reward rate starts at 7 annually and decreases by 1.5 annually until reaching a minimum limit of 3.25 annually, expected to take over 50 years.
These rewards increase the total supply of APT tokens and depend on the amount staked as well as the performance of the validation process.
Token Use Case
The APT token is used for:
- Paying fees on the Aptos network
- Staking to secure the network
- Serving as validation rewards
- Airdrops to the community.
In Summary
Having presented an overview of the Aptos project, AZCoin hopes that you have gained a basic understanding of this project to make an informed investment decision for yourself. If you have any questions, feel free to contact us via the contact page or leave a comment below. We wish you successful investments.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
