Aptos is a Layer 1 blockchain with high scalability, good security and low cost. The project was developed by a team from the Diem stablecoin project developed by Meta and has raised more than 300 million USD. So what's special about Aptos ? Let's find out with Coin68 in the article below.
What is Aptos (APT)? Learn details about the Aptos project
What is Aptos (APT)?
Aptos is a highly scalable, highly reliable, and low-cost Layer 1 blockchain. Aptos was built and developed by the Aptos Labs team with the aim of solving the reliability, scalability and usability issues that have plagued existing Layer 1 .
What is Aptos ?
Aptos is developed based on Move language, a programming language developed for Meta (Facebook)'s Diem project previously but was canceled due to legal issues. Aptos can achieve over 130,000 TPS thanks to its parallel execution engine (Block-STM) with low transaction fees.
Highlights of Aptos
Use flexible and safe programming languages
Move is designed for more secure resource management, as well as deterministic and implicit transaction execution. This means that the results of trade execution are completely predictable and are based solely on the information contained in the trade. Additionally, Move is resistant to disruption of service (DOS) attacks at the transaction execution level.
High throughput and low latency
Aptos uses a parallel and modular transaction processing approach. This means that key stages of transaction processing, including transaction transmission, metadata arrangement, parallel transaction execution, storage, and ledger validation, all execute simultaneously, Take full advantage of hardware processing capabilities, improve resource utilization efficiency, and allow for efficient parallel processing of multiple transactions. Thanks to this, Aptos achieves its goals of high performance and significantly low latency.
Safe and reliable
To minimize the risk of hacking and loss of users' private keys, Aptos provides support for flexible private key exchange for every account, for increased security. At the same time, Validators also have the ability to periodically change their Consensus key to increase security.
Uses the BFT consensus protocol
Byzantine Fault Tolerance is a way of ensuring that a distributed system can reach consensus or agreement even if some nodes or members fail or have malicious intent. It is based on the idea that as long as more than two-thirds of the nodes are honest and trustworthy, the system can ignore faulty or malicious nodes and continue to operate. By using BFT, Aptos has reduced the problem in the blockchain, ensuring stable operations and achieving accurate consensus.
Transparent transactions before signing
Current cryptocurrency wallets provide little transparency about transactions. Therefore, users are often easily tricked into signing transactions that can steal assets and cause severe consequences. To solve this problem, Aptos has introduced pre-signing transaction transparency measures, providing users with information about the outcome of the transaction before signing in a readable form. Combined with a history of previous attacks and malicious smart contracts, this should help minimize asset loss for users.
Furthermore, Aptos also allows the wallet to determine constraints on transactions during execution. Violation of these constraints will result in transaction abort, protecting users from malicious applications or wallet attacks.
Aptos ecosystem
DeFi
DeFi is a very important Vai that any ecosystem must have. DeFi on Aptos is also still in the construction phase as many projects have not yet launched Token. Some prominent DeFi projects on the Aptos ecosystem include:
- Pontem Network: Leading Liquidswap DEX on Aptos.
- Hippo: The first Aggregator DEX on Aptos .
- Aries Market: Is an all-in-one decentralized finance platform that allows users to lend, borrow, and leverage trading in the same platform.
- Unsplash: Is a pioneering organization focused on providing safe and secure methods for individuals and businesses to develop innovative projects in the cryptocurrency space.
- SwapGPT: AI-powered DeFi aggregator and liquidation manager.
- Abel Finance: A cross-chain lending platform built on the Move language.
- Amnis Finance: Pioneering liquidity Staking protocol on Aptos, audited by MoveBit and Verichain.
Wallets
There are quite a few wallet applications that support Aptos Blockchain. Some notable Aptos wallets include: Aptos Wallet , Pontem Wallet, Rise Wallet, Martian Wallet, Blocto, Flipper, Fewcha Wallet,...
Launchpad
There are currently 2 launchpad projects active on Aptos : Aptopad and Thala Launch.
Marketplace
- Mercato: The fastest, most comprehensive Non-Fungible Token aggregator on Aptos, built for Non-Fungible Token traders.
- BlueMove: Leading Multi-Chain Non-Fungible Token marketplace on Aptos.
- Topaz: Premiere Non-Fungible Token platform built on Aptos.
- Souffl3: Leading Non-Fungible Token Ecosystem on Aptos and Sui.
Bridge
Aptos integrates bridge technology from famous projects such as LayerZero , Wormhole , Celer ,... There is also Mover, a bridge project that allows transferring assets between EVM and non-EVM blockchains.
Non-Fungible Token and Gaming
- Aptos Arena: Kill-to-Earn shooting game, players will receive APT rewards after each level, based on their kills.
- Aptos Art Museum: The first metaverse art gallery in the Aptos ecosystem.
- Proud Lions Club: Is a Play-to-Earn game with a theme revolving around lion warriors. Proud Lions Club was built on the Ethereum blockchain, then migrated to Aptos.
- Werewolf vs Witch: War-themed decentralized Non-Fungible Token game on Aptos.
Development roadmap
In a recent announcement, Aptos revealed that in 2024, the project will continue to develop and enhance the Web3 user experience by driving innovation, ensuring security and scaling. effectively.
Development team
Mo Shaikh (left) and Avery Ching (right)
Aptos was founded by Aptos Labs, co-founded by Mo Shaikh and Avery Ching. Both Mo and Avery, along with several other team members, worked together at Meta on the Diem blockchain project, then together founded Aptos Labs to continue building on the technology they initially developed for Diem. .
Investors and partners
Investors
Aptos investors
Aptos closed its first round of Capital in March 2022, raising $200 million. This investment round was led by a16z crypto , with participation from big-name VCs such as Multicoin Capital , Hashed, Tiger Global, FTX Ventures and Coinbase Ventures , among others.
On July 25, 2022, Aptos announced a $150 million Capital round led by FTX Ventures and Jump Crypto , with participation from Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, Superscrypt, and continued funding. supported by a16z and Multicoin.
Partner
Aptos has continued to expand its cooperative relationships with many traditional and cryptocurrency giants, such as: Alibaba Cloud, Microsoft, Thala Labs, Flowcarbon, Sushi , Google Cloud,...
Tokenomics
Token metric
Token name | Aptos |
Symbol | APT |
Blockchain | Aptos |
Contract | 0x1::aptos_coin::AptosCoin |
Total supply | 1,000,000,000 APT |
Allocation rate and Token Issuance schedule
Token allocation rate
APT Token are allocated and issued as follows:
- Community - 51.02%: Unlock 25% at TGE, then linear vesting 0.625% per month for 10 years.
- Foundation - 16.5%: Unlock 3% at TGE, then linear vesting 0.808% per month for 10 years.
- Strategic round - 19%: Lock for 1 year, then vest 6.25% from month 13 to month 18. The rest will be linear vesting 2.08% per month.
- Series A round - 13.5%: Lock for 1 year, then vesting 6.25% from month 13 to month 18. The remainder will be linearly vesting 2.08% per month.
Additionally, those who Stake APT Token will receive validation rewards. The maximum reward rate starts at 7% annually and will decrease by 1.5% annually until the lower limit of 3.25% annually (expected to take over 50 years). These rewards increase the total APT supply and will depend on Stake amounts and validator performance.
Token Use Case
APT Token are used to:
- Pay on the Aptos network.
- Staking secures the network.
- Make rewards authentic.
- Airdrop for the community.
summary
Through the above overview article about the Aptos project, Coin68 hopes readers will grasp basic information about this project to make their own investment decisions. Wishing you successful investments!
Note: The information in the article is not XEM investment advice, Coin68 is not responsible for any of your investment decisions. Wishing you success and earning a lot of profit from this potential market.
