Aptos crypto may sound fairly familiar if you've spent a lot of time reading cryptocurrency news. It is undoubtedly true that many brand-new blockchains make the enticing Layer 1 claims that they are the answers to all scaling issues. Dive deep into the blockchain which expected itself to be “Ethereum killer” and “Solana killer” with Builder.news.

Aptos crypto overview

Aptos crypto overview

Aptos is a proposed layer 1 blockchain with Move as its programming language. Currently, planning for Aptos is at an extremely early stage. An official white paper of Aptos has not yet been produced. The Aptos blockchain, however, has raised millions of dollars from investors, and crypto specialists are already starting to discuss it. A parallel execution engine, high-level security measures, and minimal transaction costs are among the features that are planned.

This buzz around the Aptos blockchain is a result of its unique past. The blockchain is based on the recently abandoned Diem blockchain project (from Meta). The programming language built for Diem will be used to generate the Aptos crypto, which is being developed by Diem developers. It will continue to concentrate on Diem's initial objective of developing a quick, scalable blockchain. It also aspires to provide more services that will increase general users' access to cryptocurrency.

People usually ask where to buy Aptos crypto or how to buy Aptos crypto. Unfortunately, Aptos has not yet released a token, and the project's token is not mentioned in any documents. There are no specifics regarding this blockchain's mainnet because Aptos has not yet deployed it. It appears as Aptos can truly rank among the top blockchains with such a sound development strategy and a staff of seasoned experts. When Aptos has reached to mainnet then the Aptos crypto price will be worth looking forward to.

Key features of Aptos crypto

features of Aptos

Though it’s not fully operational yet, Aptos already has several impactful features that help it stand out from all other blockchains. These include:

Execution of transactions in parallel

A smart contracts engine for Block-STM is used by Aptos to handle numerous transactions at once. This dramatically increases transaction speed because no unsuccessful transaction will cause the chain to stop. The Aptos testnet can currently handle 160,000 transactions processed simultaneously with a time-to-finality of less than 1 second. Transaction fees will also be impacted by this and become very low.

Move programming language

Move, a specially created programming language that was initially created for the Diem blockchain, is among the features that make Aptos so interesting. An example of an executable bytecode language is move. Its global storage is more secure than the typical programming language, and it is versatile enough to meet the particular requirements of Aptos developers. Move makes it far more difficult for hostile actors to influence the Aptos blockchain by allowing users to create bespoke resources that can't be copied or deleted.

Aptos Byzantine Fault Tolerance (AptosBFT) consensus algorithm

Two consensus protocols are used by Aptos: Proof-of-Stake and AptosBFT, a proprietary consensus algorithm built on the HotStuff protocol. Without requiring human interaction, this method examines the on-chain status and automatically changes leader rotations to account for non-responsive validators.

Private key retrieval

Users of Aptos have the option to rotate their private keys to increase their security against theft. Validators can also routinely change their consensus key.

Simplified upgradeability

The blockchain team places a strong emphasis on upgradeability so that network improvements can be made without disrupting operations. The modular architecture of Aptos and its integrated on-chain change management protocols make this possible.

Overall, Aptos can provide advantages including quick transaction processing, increased scalability and security, and cheap transaction costs. Due to all of this, Aptos is a desirable solution for companies of all sizes.

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Aptos ecosystem

Aptos crypto

Projects working in several disciplines have reached a certain level of completion in the Aptos ecosystem. However, due to Aptos not yet being mainnet, the majority of the projects are still in the development phase. Many projects are prepared to start on Aptos when the network goes live, despite the fact that the project has not yet launched the mainnet.

DEXs

The AMM DEX sector is the first to be finished in any ecosystem in order to set the stage for the completion of other parts. The DEX component of the Aptos system is still being refined, and the largest players are still being developed. The following projects relate to decentralized exchanges and the Aptos ecosystem:

Pontem: The project has received investments totaling $4.5 million from a number of companies, including Delphi, Alameda, Mechanism, Animoca Brands, and Aptos Labs. There are currently 75,000 testers participating in the project, which is in the testnet stage.
Laminar, Econia, Empo, Hanson: There haven't been many announcements about the DEXs on Aptos. The project is still in the planning stage. Except for Econia, which uses the order book system, the bulk of DEXs in this operate using the AMM technique.
Hippo: The project is developing a trading aggregator that would enable customers to transact on a single interface and get the best transaction price.

Since Pontem is currently the dominant player and the other projects are still in the development stage, it is expected that they will soon launch liquidity mining programs as well as other initiatives to draw in liquidity.

>>> Read more: Automated Market Makers vs. Central Limit Order Books: The Clash Of DEXes

Lending/Borrowing

Three lending and borrowing projects are now under development on Aptos, and one of those projects is in the devnet stage, where customers may sign up and test out the beta versions of the products. On the Aptos ecosystem, lending and borrowing projects include:

Vial: The project has currently developed a devnet where consumers can test out its items.
Njord Finance: Although little is known about the project, Aptos Labs is said to be a supporter of it on Twitter.
Finale: The lending project took third place at the 2022 Aptos Hackathon. The undertaking is still in development.

NFT marketplace

Due to the delay in the Aptos mainnet event, the NFT Marketplaces are not yet operational. These markets will be the focus of NFT projects once the mainnet launches in Q3 2022, with Curiosity receiving additional attention because of Aptos Labs' media backing. The following projects are the NFT marketplace supported by Aptos:

Curiosity: The project is in devnet stage, supported by Aptos communication on Twitter.
Topaz: The project is in devnet stage.

Infrastructure

There are several flaws because Aptos' infrastructural segment is still under construction. It is also a chain that does not support EVM, making it challenging to connect to the user file of chains that already support EVM. Building the tools will take some time because the infrastructure tools must be created from scratch using a new programming language (Move).

Aptos' infrastructure sector will need to advance significantly during mainnet preparation in Q3 2022 in order to make it simple for users to use. The Aptos ecosystem's infrastructure initiatives include:

Wallets: The following wallets support the Aptos ecosystem and are creating their products as iOS and Android extensions and apps: Martian, Fewcha, Aptos Wallet, and Hive. The project with the greatest interest in AMM DEX, Pontem Network, is also creating its own wallet for Aptos.
Oracle: Switchboard is the first and only Oracle to now state that it is working on Aptos. The biggest market oracles, such as Chainlink and Band Protocol, have not yet declared support for this blockchain.
Explorer: There is now a devnet explorer available on Aptos, although it is still in the development stage and does not display much information.
Bridge: As of this writing, it is unknown which bridges will support Aptos. Future surveillance efforts should pay closer attention to this crucial location where money enters the ecosystem.

Others

The following further ecosystem-related projects are:

Fund Management: At present, Solrise is the sole project on the Aptos system working on fund management. This project was started on Solana and has now been expanded to Aptos.
Payment: Paymagic is a project that handles payments on Aptos; it has worked on other ecosystems and is growing to serve DAOs and projects on Aptos.
Liquid Staking: The project Zaptos, which is currently under development, enables users to make money through farming on Aptos.
DNS: A project about Name Service with domain names that end in ".aptos" is called Aptos Name Service.
Project for messaging: Dialect is a multi-chain messaging project, and it will soon support Aptos.

Aptos token (APT)

Key metrics

Token Name: Aptos Token
Ticker: APT
Blockchain: Aptos
Token Type: Native Token
Total Supply: 1,000,000,000 APT
Circulating Supply: TBU

Token distribution

At the time of mainnet launch on October 12th, 2022, the circulating supply of APT was 1 billion coins. The token is distributed as follows:

Community: 510,217,359,767 APT (51.02%)
Team Member: 190,000,000 APT (19%)
Project fund: 165,000,000 APT (16.5%)
Investor: 134,782,640,233 APT (13.48%)

The Aptos Foundation will be in charge of managing 410,217,359.76 APT of the funds given to the community; Aptos Labs will be in charge of the remaining 100 million APT. Over the following ten years, that money will be used for Aptos ecosystem development operations. The amount of APT allotted to Team Members and Investors, meanwhile, will be fixed for a year and paid on a monthly basis for the next four years.

Token supply schedule

apt token release schedule

Anticipated Total Circulating Token Supply for the next 10 years subject to network performance and staking assumptions (Source: Aptos)

Token use cases

Aptos claims to be true to the community's previous findings, 82% of the total APT supply is currently being staked. Staking activity is necessary for the purpose of helping validators on the network to verify transactions, in return for receiving staking rewards. The annual inflation from increasing the total supply through staking will be 7%/year and gradually decrease by 1.5% per year until it is only 3.25%.

Additionally, the APT token offers the owner the administrative right to vote on amendments to the project's specifications as well as other choices like the rate of inflation resulting from staking, the burning of APT transaction fees, etc.

In the future, Aptos promised to give more details regarding APT.

How to buy Aptos token

On October 18, Aptos made the mainnet official. In light of this, two of the most popular cryptocurrency exchanges at the moment, Binance and FTX, have announced that they will list Aptos (APT) at 1 AM on October 19, 2022 (UTC), although it is unclear which users have coins to deposit on the exchange aside from the funds that took part in the Aptos funding round.

Besides, Aptos' $APT token will be simultaneously listed on other crypto exchanges like Huobi and Coinbase at 1AM October 19th, 2022 (UTC).

Aptos roadmap

Aptos roadmap

Although the Aptos team has not officially launched the project, several developments have already begun. Here is an explanation:

Q1/2022: Release the testnets for developers and work on enhancing the Move language. The decentralized Aptos chain was broken when Google cloud services were tried on the Aptos network in April.
Q2/2022: Run nodes on the testnet and make it available to everyone for use.
Q3/2022: Start the mainnet and raise $350 million to fuel the project's expansion.
Q4/2022 and beyond: TBU.

The team behind Aptos crypto

Founder team

The group driving the Aptos project is called Aptos Labs. Co-founders Mo Shaikh and Avery Ching currently serve as the leadership of a varied group of programmers, engineers, and strategists.

When they collaborated on the Diem blockchain project at Meta, Shaikh and Ching became friends. Shaikh has experience in the private equity and venture capital industries and excels in scaling products. Ching, who was one of Meta's top software engineers at the time, oversaw numerous fascinating and cutting-edge development projects in the past. Shaikh and Ching made the decision to form Aptos Labs after Meta decided to end the Diem project.

"Building a Layer 1 for everyone" is the company motto of Aptos Labs. The business is committed to building the safest, most dependable network it can. Despite its recent existence, its mission already enjoys widespread support. Aptos Labs has launched its developer testnet, raised over $350 million in capital over the course of two fundraising rounds, and successfully managed millions of transactions and thousands of nodes.

Partners and investors

Currently, Aptos has undergone numerous rounds of funding, including contributions from numerous significant investment funds. FTX Ventures, Jump Crypto, Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, Superscrypt, and two investors from the last private round were among the big funds that disclosed receiving a $150 million Series A investment in Aptos on July 25, 2022 (a16z crypto and Multicoin). On March 15, 2022, a16z, Tiger Global, Katie Haun, Multicoin Capital, Three Arrows Capital, FTX Ventures, and Coinbase Ventures committed $200 million in Aptos' initial funding round.

As of right now, Aptos has just acknowledged Google Cloud as a partner, and they use Google Cloud to store data to make it simpler for validators to operate the node (it only takes 15 minutes for a node to be installed and started).

Aptos social media channels

Aptos Website: https://aptoslabs.com
Aptos Medium: https://medium.com/@aptoslabs
Aptos GitHub: https://github.com/aptos-labs/
Aptos Twitter: https://twitter.com/aptoslabs
Aptos Telegram channel: https://t.me/aptos_official
Aptos Telegram group: https://t.me/AptosLabs

Disclaimer:
This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.

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