What is Aptos (APT)? Aptos Ecosystem Comprehensive Guide

One crypto project that has attracted a lot of investor attention recently is Aptos (APT). Backed by venture capital, Aptos promises users increased scalability, reliability, and usability. Even though it was only launched in October 2022, Aptos managed to rank 29th at the global level according to Coinmarketcap.com with a market capitalization of IDR 39 trillion and daily transaction volume reaching IDR 5.9 trillion on Wednesday (13/12). Find more detailed information about what Aptos is and how it works as well as its tokenomics in the following review. 

What is Aptos 

Aptos is a layer-1 blockchain built with the Move programming language. This blockchain offers a parallel execution engine, high-level security features, and low transaction fees. Aptos' vision is to bring mainstream adoption to web3 and empower the DApps ecosystem to solve real-world user problems.

The following are the basic components of Aptos (APT):

• Move Integration: Move is a Rust-based programming language for fast and secure transaction execution with a focus on security.
• Flexible key management and hybrid custodial options: Aptos aims to provide a more secure and trusted user experience through this custom solution.
• Modular transaction processing: Transaction propagation, block metadata ordering transaction execution, batch storage, and ledger certification work in parallel.
• Atomity without prior knowledge of the data: This allows Aptos to increase throughput and reduce latency.
• Modular architecture: Allows Aptos to offer frequent and instant upgrades.
• Innovative scaling solution: Aptos supports validator internal sharding and homogeneous state sharding.

How Aptos Works

The way Aptos works is unlike other blockchains, which use serial transaction execution. Aptos utilizes a Rust-based programming language, called Move. Using this programming language, Aptos enables the use of a parallel execution engine, known as Block-STM, to increase transaction speed on the network. Aptos claims to be able to increase capabilities up to 160 thousand transactions per second (tps).

Aptos Whitepaper

In addition, Aptos has also designed a modular approach in transaction processing, to achieve high throughput and low latency. This modular blockchain consists of important components such as smart contract execution, consensus mechanism, parallel transaction processing, user interface, and validator management.

In its consensus mechanism, Aptos uses a Byzantine Fault Tolerance (BFT) and Proof of Stake (PoS) approach. In this system, a group of validators work collectively to process transactions. Users (clients), who have responsibility for submitting transactions or requesting blockchain data, can download and verify proofs signed by validators. 

The Aptos network structure involves full nodes (full nodes), which replicate blockchain transactions and state, as well as light client that maintains the current set of validators while securely querying the state of a portion of the blockchain. Aptos' modular design and consensus algorithm are designed to provide flexibility, security and reliability in transaction processing, in line with evolving user needs.

Who is the Founder of Aptos

The founders or inventors of Aptos are Avery Ching and Mo Shaikh, both former Meta employees who worked on the Diem blockchain project. Ching has a background as a software engineer while Mo is in the financial and blockchain industries. 

This crypto project managed to get funding of 400 million US dollars from a number of crypto venture companies, such as FTX Ventures, Jump Crypto, a16z, Dragonfly, Binance, and Multicoin Capital. 

Ecosystem

Aptos

The Aptos ecosystem consists of many projects, ranging from DeFi, NFT, gaming, wallet, marketplace, Launchpads, Bridges, Social, Infra, Security, Stablecoin, and Tooling. 

To date, there are at least 106 projects recorded in the Aptos ecosystem.

Tokenomics

APT is the native token in the Aptos ecosystem. This token was first launched to the public on October 12, 2022, with a total supply of 1 trillion tokens. Meanwhile, the supply of tokens in circulation currently reaches 304 million APT tokens. Below is an overview of the APT token allocation in the Aptos ecosystem:

Aptos

Under the Community allocation, approximately 80 percent is held by the Aptos Foundation and the remainder by Aptos Labs. This allocation will be used to support the growth of the Aptos Foundation community and initiatives, and the remainder will be unlocked monthly for the next ten years. 

On the other hand, investors and core developers have to vest for four years from mainnet launch, and more than 82 percent of the current circulating token supply is stakedstake in the net. 

Conclusion

Built by a team of over 350 developers,  Aptos is a layer-1 blockchain focused on scalability, security, and reliability. Its unique features, such as the AptosBFT (PoS) consensus mechanism and the smart contract Move programming language, enable parallel execution and provide throughput transactions up to 160,000 tps.

Aptos is one of the promising crypto projects in the blockchain landscape, offering innovative solutions to long-standing industry challenges.

How to Buy APT Tokens on Bittime

After reading a complete review of what Aptos is, are you interested in buying and investing in this crypto project? You can buy APT tokens on the best crypto exchange platforms in Indonesia, one of which is Bittime. APT is available on Bittime in the APT IDR pairing. 

To be able to buy APT tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance to buy APT tokens. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase APT in the application. 

Also Read: More Complete Guide on How to Buy APT on Bittime

Monitor today's price chart movements of Aptos (APT), Bitcoin, Ethereum, Solana and other cryptos to find out today's crypto market trend in real time real-time in Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.