Listed by FTX and Binance on Oct 19, Aptos (APT) is attracting a lot of attention from investors. So, what is Aptos? Does APT worth the investment?:
What is Aptos?
Aptos is a PoS Layer 1 blockchain that aims to become the safest and most scalable blockchain in the world. Aptos is expected to become a Layer-1 blockchain that can surpass many famous names like Ethereum or Solana. APT is the native token of Aptos.
The name Aptos may be unfamiliar to many people but in fact, the company behind Aptos was founded by the Dev team who used to work for DIEM – a Meta’s crypto project that was abandoned in January. That means Aptos itself already has a solid foundation to integrate many products in its ecosystem and that is why its token APT is listed on major exchanges like FTX, Binance, Houbi, etc.
Some official Aptos social channels:
- Website: https://aptoslabs.com/
- Twitter: https://twitter.com/aptoslabs
- Telegram: https://t.me/aptoslabs
- Medium: https://aptoslabs.medium.com/
- Discord: https://discord.gg/tuDs9TmWwv
The total supply of APT is over 1 billion, more than 80% of which have been staked, meaning they already have owners and will gradually be unlocked.
Community: 510,217,359,767 APT (51.02%)
Core Member: 190,000,000 APT (19%)
Foundation: 165,000,000 APT (16.5%)
Investor: 134,782,640,233 APT (13.48%)
Of the tokens allocated to the community, 410,217,359.76 APT will be managed by the Aptos Foundation, while the remaining 100 million will be managed by Aptos Labs. That money will be allocated to Aptos ecosystem development activities over the next 10 years. The annual inflation rate from increasing the total supply through staking will be 7% per year and gradually decreasing by 1.5% per year until it is only 3.25%.
Transaction fees on the network, paid in APT, will be burned to create deflationary pressure. APT holders also have the right to vote on decisions related to the project.
Highlights of Aptos
While there are many blockchains available at the moment, mainstream Web3 adoption has yet to happen. Aptos aims to create a blockchain that can bring mainstream adoption to Web3 and empower a decentralized ecosystem to solve real-world user problems. The goal of Aptos is to advance the cutting edge of blockchain reliability, safety, and performance.
Now, let’s take a look at the project and its vision. APTOS was launched on February 24, 2022. In their first media post, the team outlined their vision in which they hope to build their project:
- Is a Layer 1 blockchain for everyone
- Focuses on absolute safety combined with enhanced scalability.
- Creates equitable and global access to decentralized assets for billions of people.
To do this, Aptos has combined many impressive technologies:
- Aptos uses consensus protocol Byzantine Fault Tolerant (BFT) which promises high performance.
- Aptos also has a special feature known as parallel execution. With this, Aptos can run multiple chains at the same time. Meanwhile, current blockchain like Bitcoin or Ethereum, are processed serially, meaning they can only process the next transaction once the previous one has been verified.
- Aptos uses a programming language called Move. In the past, Move was built specifically for DIEM and now, it helps developers build APTOS. Move enables fast and safe execution as well as simple inspection and mechanical analysis capabilities. Put simply, it is a new Layer-1 blockchain that is faster, more secure, and much more scalable than all current blockchains. However, all is theory, and how this blockchain actually works, we need time to answer.
The Aptos team is a highly accomplished team of engineers, researchers, strategists, designers and builders. Two founders of the project:
- Mo Shaikh: Formerly Chief Strategy Officer at ConsenSys and CEO at Meridio. He now works as an advisor and board member of many companies.
- Avery Ching: Over 10 years of experience in software engineering. Also served as Vice President at Apache Giraph.
Investors and Partners
Up to now, Aptos has successfully raised many funding rounds, invested by many large investment funds. In February 2022, Aptos raised $200 million in a funding round led by a16z, with major investors including Tiger Global, Katie Haun, Multicoin Capital, FTX Ventures, Coinbase Ventures, Binance Labs and PayPal Ventures rushing in to finance the project. On July 25, 2022, Aptos closed a $150 million Series A round led by FTX Ventures and Jump Crypto, with participation from Binance Labs.
Currently, Aptos has just announced a single partner, Google Cloud, which they use to store data to make node running easier for validators (it only takes 15 minutes for a node to be installed and startup).
Even before the mainnet, there have been many projects ready to launch on Aptos. So after the mainnet, projects will launch their products, thereby forming a set of leading projects that become the key in the Aptos ecosystem. In general, most of the necessary factors of an ecosystem, Aptos has enough.
However, that is the future scenario, the Aptos ecosystem now still has nothing. It’s all just the beginning but with the vision of Aptos, we can hope in the near future, when the mainnet undergoes stability tests, projects on Aptos can grow and explode quickly.
Aptos’s top competitors include Ethereum – the leading blockchain for smart contracts; Binance Chain, Solana, Avalanche – top Layer-1 blockchains; Tron, NEAR, ASTAR, Moonbeam – emerging Layer-1 projects; Polygon, Arbitrum, Optimism – Layer-2 projects; and more.
Should You Invest in Aptos (APT)?
It can be said that Aptos offers unique and promising features that are hard to find in other Layer-1 protocols. Aptos (APT) outperforms Ethereum and Solana in terms of scalability and network capacity. The project is also backed by many large investment funds, especially Binance and FTX.
Aptos seems to be an investment with great potential, however, everything is just beginning so it is still necessary to consider before you make any investment decision.
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