Since its initial planning stage, the Aptos crypto coin has been getting attention. Aptos has been majorly backed by venture capitalists. This crypto has been the talk of the town, and its proposed features look promising to crypto enthusiasts. While traditional crypto coins like Ethereum and Bitcoin have the majority share of the crypto market, new players like Aptos can challenge them in features like security and scalability.
This article will explain the features of Aptos and deep dive to understand the workings of this blockchain. This article will address how this new coin benefits crypto investors and its ecosystem.
What is Aptos?
The Aptos network is a layer-1 blockchain that aims to be scalable, upgradeable, and safe. Aptos has been worked on by more than 350 programmers. It aims to be a foundational block for future Web 3.0 developments. The symbol of the Aptos token is identified as APT.
The Aptos blockchain was created by the developers of the Diem blockchain, which was a Meta initiative. The Diem project was abandoned. Aptos aims to build on the advantages of the Diem blockchain. The goal of the Aptos team is to make crypto accessible to the average user using its scalability feature.
Aptos Labs
Mo Shaik and Avery Ching, who has worked previously on the Diem project at Meta, are heading Aptos Labs. Since the Diem project shut down, both have moved to Aptos. Avery Ching has worked as a principal software engineer at Meta, and Shaik has expertise in venture capital markets. Marquee investors like Mutlicoin Capital, FTX, Coinbase Ventures, Haun Ventures, and Tiger Global have invested close to $ 350 million in Aptos.
How does Aptos work?
The Aptos blockchain has protocols, making it reliable, secure, and scalable. Aptos claims its test net is transacting at 130,000 transactions per second. These are some of the features of this blockchain.
- Move language is used for programming in the Aptos blockchain. The Mover prover has many security features and is a verifier for smart contracts. Programmers can protect their code better using this feature.
- High transaction throughput is one of the features of the Aptos blockchain. The blockchain works with a modular approach for transaction processing to achieve this. Compared to the current systems, this method of transaction processing makes it hyper-efficient.
- Aptos is also backed by atomicity. Atomicity is the property of database transactions taking place in a single instant without delay.
- The architecture of this blockchain is flexible for future upgrades. This feature is vital for future developments in the Web 3.0 space.
- With horizontal transaction scalability potential, more infrastructure can be added to the blockchain without increasing complexity.
- Lastly, Aptos uses the BFT (Byzantine Fault Tolerance) protocol for transaction validation. Aptos reduces latency by splitting two processes to work in parallel. In other protocols, the creation and validation of blocks occur sequentially.
Aptos Tokenomics
On October 12th, 2022, the Aptos mainnet launched with a total supply of 1 billion tokens. As the APT token price has eight digits of precision, the minimum unit is called an octa.
Token distribution
The edge that Aptos possesses
The Aptos project is backed by influential investors. The project has gained more credibility because of the engineers on the team. Both its founders have worked on crypto projects and have previously worked in Meta. Aptos already has a large online community. Its discord channel has more than 125,000 members.
Aptos applications are similar to those on other blockchains like Solana and Ethereum. This blockchain also addresses the scalability issue. As per media reports, the Aptos testnet has proven to be faster than most of its competitors.
Pros and Cons of Aptos
Final Thoughts
Aptos is certainly being backed by many noteworthy venture capitalists and has gained a lot of attention from the crypto community. If the platform proves to be as good as it is in theory, then we can expect some great innovation to take place on the Aptos blockchain. However, only time will tell if Aptos can challenge its competitors. Crypto investors interested in purchasing Apto coins should perform their due diligence and have a contingency plan.
You can now buy Aptos on ZebPay.
