Aptos Labs, a Web3 startup also known as Aptos, has set its sights on creating a highly efficient first-layer blockchain. This new entrant isn't merely another smart contract layer boasting greater scalability than its predecessors. In fact, Aptos has its roots in the now-defunct Diem, a blockchain project by Meta. The founding team, made up of former Diem contributors, has provided Aptos with a strong foundation for growth—a promising sign for its future.
Aptos Technology and Capabilities
Aptos leverages the Move programming language based on Rust, developed separately by Meta for its previous Diem blockchain. Blockchain-STM, a company involved with Aptos, claims the network can handle over 130,000 transactions per second, leading to lower transaction fees for users. This is a significant leap forward compared to Ethereum, which handles 12 to 15 transactions per second. Aptos' modular design enables node-level changes, ensuring faster development and updates. Aptos uses a logical data model, preventing resources from being discarded and safeguarding data integrity. Key stages of transaction processing occur simultaneously, further boosting efficiency. The structured approach to validator scaling allows the network to access additional computational, networking, and storage resources.
Aptos Blockchain Protocol
Aptos is a Layer 1 Proof-of-Stake (PoS) blockchain protocol with a high emphasis on scalability, security, reliability, and upgradeability. The Aptos chain operates using a PoS consensus mechanism with Byzantine Fault Tolerance (BFT). The network is divided into full nodes and light clients, allowing for various levels of participation. To maximize transaction throughput, Aptos employs a parallel transaction machine with BlockSTM, facilitating the simultaneous processing of multiple transactions.
The Aptos Team
The brains behind Aptos include a robust team of experts, led by Mo Shaikh and Avery Ching, both former employees of Meta. They collaborated on Meta's Diem blockchain project and, following its cancellation, decided to establish Aptos Labs. Comprising researchers, designers, and engineers from Diem, the Aptos team has a strong technical base and is well-positioned for future growth and innovation.
Value and Marketability of Aptos
Aptos has a total supply of 1,037,736,479 APT with a circulating supply of 199,540,825 APT. Its market capitalization stands at $1,785,669,354. Since its launch in October 2022, Aptos' value has significantly increased, indicating its promising potential.
Financial Backing of Aptos
Despite a weak market, Aptos managed to secure significant funding from various influential players in the cryptocurrency field. While some sources cannot be confirmed, it's reported that investors included Binance in March 2022.
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