Aptos Ecosystem

What is APTOS network

Aptos is a Layer 1 blockchain focused on enabling more mainstream use of Web 3.0 and supporting the functionality of DApps.

Launched in 2022, the Aptos blockchain aims to solve the major problems faced by other blockchains; scalability, security, decentralization and user experience.

In fact, Aptos Labs was founded by former Meta co-workers Mo Shaikh and Avery Ching. In 2022, Meta announced that it was shutting down the design of the DIEM stablecoin due to regulatory issues, after which the world saw the Aptos mainnet.

Funds and investor support

Before launching the project, the developers conducted a major marketing campaign, during which they received colossal support from major funds and investors.

The main investors of Aptos Labs include:

• a16z (Andreessen Horowitz)
• Multicoin Capital
• Jump Crypto
• Binance Labs
• ParaFi Capital
• BlockTower Capital
• Coinbase Ventures
• Hashed
• Dragonfly Capital
• PayPal
• Three Arrows Capital and others

Major partners of Aptos Labs:

• MasterCard
• Microsoft
• Google Cloud
• NBC Universal

Aptos has raised about $350 million dollars in two rounds of funding.

How does Aptos work

Its three key parts around which Aptos is built: the property of parallel transaction processing, the Move language, and block-STM technology.

Unlike Bitcoin or Ethereum networks, Aptos allows all available network resources to be utilized for simultaneous transaction processing. In turn, this increases capacity and transaction speed.

In addition, Aptos utilizes PoS (Proof-of-Stake) combined with BFT (Byzantine Fault Tolerance) consensus. In this way, Aptos applies a mixed type of consensus.

Move features:

• Simplified property customization for digital assets;
• Transparency for static references. Fixing vulnerabilities after contract creation is easier than with Solidity;
• Check for moving links and block data leaks;
• “Move Prover” tool to help check if code is working correctly;
• A new “Resources” data type that protects against copying and accidental destruction.

These solutions allow developers to better protect their smart-contracts from malware on the Aptos blockchain. The Aptos blockchain also features hybrid key storage and management.

At some point, with such a wide range of tools, Aptos began to compete with many established blockchains. In 2022, according to tests, it was capable of processing more than 160,000 TPS. In addition, it has outperformed Solana, which is only able to process 50,000 TPS.

Aptos was labeled as the “Solana killer”. However, it was later revealed that Aptos processes about 30,000 TPS and 2,000,000,000 per day.

As of August 2024, the Aptos blockchain has processing 8,580 TPS.

APTOS ecosystem has three types of Nodes:

1. Validator nodes that confirm transactions and create blocks.
2. Public fullnodes or nodes that are created by a randomly generated or static identifier with complete transaction information on the blockchain.
3. Validator Fullnodes or nodes that provide decentralized applications with access to raw blockchain information before the data model makes them ready to serve multiple DApps simultaneously.

In addition, in the Aptos ecosystem includes DEXes, NFT-marketplaces, DAOs, DeFi, decentralized social networks, and more.

Key benefits of Aptos blockchain

• Parallel Execution mechanism
• Sharding for horizontal scaling of bandwidth
• Advanced sync
• Low transaction costs
• High-tech security features
• Modular design

Aptos Token (APT)

APT is a native token that acts as the main unit of account for the Aptos Labs ecosystem. The APT token used to manage the system as part of the governance system, pay fees on the network and for staking, which secures the entire Aptos ecosystem. In addition, the APT token is used to distribute rewards to validators and token holders in Aptos projects.

In 2022 Aptos held an Airdrop during which they distributed 51% of APT to users.

APT tokenomics during the airdrop:

• Community: 51.02%, 510,217,359,767 APT
• Core Contributors: 19%, 190,000,000,000 APT
• Foundation: 16.50%, 165,000,000,000 APT
• Investors: 13.48%, 134,782,640,233 APT

APT token holders can delegate to validators. This gives each validator a weight in consensus voting proportional to the number of tokens held. The validator can use it to participate in consensus and blockchain governance.

Conclusion

Closing today’s article, the Aptos project is an innovative blockchain platform that aims for more efficient scaling and enhanced security. Aptos demonstrates significant potential for applications across a broad spectrum including DeFi, NFT, GameFi segments of crypto industry.

By combining high capacity, flexibility and security the Aptos project is becoming an important element in the development of the blockchain industry and could have a significant impact on the future of digital financial technology.