Innovation is expected to happen much faster than most people predict, and Aptos is very eager to get started, co-founder and Chief Technology Officer Avery Ching shared with Arijit Sarkar of TinTucBitcoin at the India Blockchain Week 2024.
Aptos is seeking to address the scalability and throughput limitations of other Layer-1 blockchains with a decentralized infrastructure that can support billions of transactions.
"We want to be able to support every Internet application globally" and "scale to support the Web3 giants of the future," Ching stated.
Lots of technology required
Aptos' technology is often seen as its "killer feature," Ching said. In addition to high throughput, he highlighted infrastructure features like parallel and non-deterministic on-chain transaction processing, which can support use cases like prediction markets and voting systems.
Business operations like loyalty programs and coupons can also be supported when payments are integrated into ecosystems. Aptos has integrated Tether (USDT) and Circle (USDC) and will launch a Hong Kong dollar-pegged stablecoin.
Aptos is also looking to store and manage artificial intelligence data streams to enable AI agents to interact with blockchain systems.
Ching also emphasized Aptos' usability, stating that the blockchain provides developer support and user experiences with simplified authentication methods and flexible account recovery mechanisms.
Source: Debangana Ghosh
A step ahead in India
However, Ching believes Aptos' real strength lies in its team. India, with the second-largest Web3 development profile in the world, plays a crucial role in Aptos' operations, putting it "a step ahead." Aptos has over 40 ecosystem teams and 500 developers in India. According to Ching:
"This is one of the most developer-concentrated regions in the world [...] Developers are very eager and excited to build real-world usable applications and are experimenting. I think the experimentation space in Web3 is the most important thing to execute on."
Moreover, 6.5 million out of Aptos' 8.5 million monthly active addresses are said to be from India.
Aptos plans to drive its rapid innovation with several projects. A more advanced programming language, Move 2, will be launched, along with a new consensus protocol called Raptor. An enhanced parallel engine will be introduced, as well as a new financial platform - Aptos Asset Management.
