The ongoing scaling problems of the Ethereum blockchain opened the door for decentralized layer-1 applications. Aptos, a new venture in this field, has been making a name for itself for a while, although it is new. Among popular layer-1 examples such as Avalanche, Solana and Phantom, Aptos is expected to bring a new breath. So what is this Aptos?
What is Aptos?
Aptos is a scalable, low-cost and updatable blockchain developed for building applications that can be widely used on the blockchain. The main goal of Aptos is to bring blockchain-based applications to wider audiences. When we look at the Aptos project, we see that the project is really remarkable and has unique innovations. The Aptos blockchain has been created by over 350 developers over the past three years. Aiming to offer innovations in consensus, smart contract design, system security, performance and decentralization, this project is stated to provide a fundamental building block for bringing web3 to the masses.
The Aptos project has previously worked on the Meta platform’s Diem Blockchain and is being developed by the creative team of the Move language. This developer team includes Mo Shaikh, CEO of Aptos, and Avery Ching, CTO, with whom they previously worked on the Novi crypto wallet. Developers focused on building a layer-1 network with Aptos that can advance decentralization without sacrificing usability and security, think these are the main issues hindering blockchain adoption.
Investments Acquired by Aptos
The technology foundation of Aptos is considered highly valuable in blockchain circles. Before the project was even launched, Multicoin Capital had managed to raise serious capital with an initial $200 million funding round led by ParaFi, Haun Ventures, PayPal Ventures, FTX Ventures, Coinbase Ventures and more, followed by a $150 million Series A round led by Sam Bankman. .
What Is Aptos’ Biggest Promise?
The biggest promise of the project, which focuses on advancing decentralization without sacrificing usability and reliability, is speed and scalability. Blockchain transaction speeds can be measured in a number of ways, either by transactions per second or by precision time. The first is TPS, the number of transactions per second, and the other is TTF, which refers to the time it takes for a transaction to be committed to the blockchain, where it is then accepted as final. Looking at the indicators on the Aptos testnet, it showed that its TTF is under a second, i.e. it ranks alongside superfast blockchains like Avalanche and Fantom.
Aptos Coin Review
Launched on October 12, 2022, Aptos’ Aptos coin was launched with a supply of 1 billion units. 51.02 percent of this supply is reserved for the community, 19 percent for the main participants, 16.50 percent for the foundation and 13.48 percent for the investors. While the supply of 1 billion is estimated to be reached at the end of 2027, it is thought that the supply will exceed 1.5 billion by 2032. The current reward for Aptos staking starts at 7 percent per year. The reward rate will decrease by 1.5 percent annually until it reaches the lower limit of 3.25%.
How to Get Aptos?
Aptos, which has already managed to attract the eyes in the blockchain world, has started to be listed on major exchanges such as Binance, FTX, OKX, Huobi, KuCoin, Bybit, Gate.io, Kraken and Coinbase and opened for transactions as of today. If you want to buy Aptos, you can do your trading on these exchanges.
