Aptos (APT) is a scalable tier-1 blockchain network project. Founded by former Meta employees, Aptos aims to spread the concepts of decentralization and Web3.
The blockchain was built over three years by a team of more than 300 programmers at Aptos Labs, which offers new solutions for smart contracts and decentralized applications. Aptos is driven by the concepts of scalability, security, reliability and extensibility. As a proof-of-stake (PoS) based blockchain, Aptos stands out as a particularly useful platform for developers of decentralized applications.
APT Token Project
The APT token is the native coin of the Aptos blockchain network. The primary Aptos network went live on October 18, 2022, with 1 billion APT tokens issued in the first phase. The APT token is already one of the most promising Web3 tokens and can be used as a network validator or to pay network transaction fees.
Who Are The Founders Of The Aptos Project?
Avery Ching and Mo Shaik, who have already worked on Meta’s Diem blockchain project, founded Aptos. Ching and Shaik chose the “parallel execution” approach for Aptos, which has its origins in Diem management and aims to reduce network transaction costs while increasing network throughput. Aptos’ main network was launched on October 18, 2022.
APT Token Statistics
The amount of APT tokens at launch is 1 billion tokens. The distribution strategy for APT tokens is as follows:
- 51.02%: Community
- 19%: Participant
- 16.50 percent: Aptos Foundation
- 13.48%: Speculators
Why Is The Aptos Project So Exceptional?
Aptos stands out for its use of Move, a Rust-based programming language developed separately by Meta, and the core components of the Diem blockchain. Aptos stands out because it promises developers and end users high transaction speeds.
The Aptos network uses a parallel execution machine (block STM). This technology enables Aptos to process more than 130 thousand transactions per second. The parallel execution engine increases transaction speed on the Aptos network while keeping costs low.
Most blockchains either execute smart contracts sequentially or require a massively parallel workload that requires large amounts of computing power to increase speed. Aptos differs from other blockchains in that a failed transaction does not bring the entire chain to a halt. Instead, all transactions are completed and confirmed simultaneously. Thanks to software transaction memory (STM) libraries that detect and handle conflicts, failed transactions are aborted and retried.
This structure sets Aptos apart from other blockchains and increases the performance of the entire blockchain at no additional cost to users or developers.
APT Token Whitedocument
The whitepaper for the Aptos (APT) project can be found here. The APT coin whitepaper highlights that the Aptos blockchain will execute smart contracts with minimal cost and high transaction speed.
