Aptos Project ($APT)- A Scalable and Highly Secure Layer 1 Blockchain

According to the official announcement, Binance will list Aptos ($APT) and open $APT/$BTC, $APT/$BUSD, and $APT/$USDT pairs on October 19th at 1:00 a.m. UTC. Users can now begin depositing $APT in order to trade. Withdrawals for $APT will begin on October 20th at 1:00 a.m. UTC. Following its listing, APT sparked a fever in the crypto community. So, what exactly is Aptos? Is this a promising project? Learn more about the Aptos Project with Market247.io in today's article.

What is Aptos Project?

Aptos Project is about building a Layer 1 blockchain that was designed with security and user experience in mind, allowing developers to create scalable, future-proof applications. To address these challenges, it was designed with scalability, safety, reliability, and upgradeability as key principles. Over 350+ developers from around the world have worked on the Aptos blockchain over the last three years. It introduces new and innovative ideas in consensus, smart contract design, system security, performance, and decentralization.

The Aptos vision is to create a blockchain capable of bringing web3 mainstream adoption and enabling an ecosystem of decentralized applications to solve real-world user problems. Aptos' mission is to provide a flexible and modular blockchain architecture that advances the state-of-the-art in blockchain reliability, safety, and performance. This architecture should allow for frequent upgrades, rapid adoption of new technological advances, and first-rate support for new and emerging use cases.

The Aptos developer testnet first went live in March 2022. It peaked at 18,000 fully active nodes, making it the largest known proof-of-stake node community operating today. The first stage of the incentivized testnet ran from May 24 to June 9, with only 100 validators chosen from a pool of over 30,000 submissions. The first stage was a success, assisting in the identification of bugs and vulnerabilities as well as strengthening the Aptos network.

What makes Aptos Project unique?

Aptops Project is developed with many highlighted features as follow.

The Move Language

The Move programming language was created at Meta to provide Diem with security and scalability. It's now doing the same for Aptos.

The key to comprehending Move's benefits is its resource utilization. Simply put, resources are a highly secure way of storing critical information in a system. Resources have a high status in the code architecture, preventing them from being copied or accidentally deleted.

Move stores critical information as resources, such as tokens and smart contracts, giving the language significantly greater security than competing blockchain programming languages. Move is used to implement all of Aptos' key components, such as accounts, transaction fees, a standard library, validator node management, and configuration.

Low latency Byzantine Fault Tolerant (BFT) mechanism

For a long time, Team Aptos focused on complementing their BFT mechanism, ensuring network safety even if nodes are manipulated and attack the network.

High TPS

Under laboratory conditions, if many factors such as storage, consensus mechanism, network, and so on are ignored, Aptos' TPS can reach 125,000 - 160,000 transactions per second.

Upgradability of the network

Aptos' team believes that in order to adapt to a rapidly changing market, the network must be highly upgradeable. As a result, Aptos was designed with the ability to upgrade the network without downtime in the future to accommodate continuous network upgrades.

Validators can run a variety of nodes

Validators can run nodes at many different levels, with the simplest node running level reduced so that validators only need to meet the basic requirements; from there, they can rapidly increase the network's validators.

Aptos Token and Tokenomics

$APT is native token of Aptos ecosystem.

Detailed metrics about Aptos Token

• Name: Aptos
• Ticker: APT
• Token type: ERC20
• Role of Token: UTILITY
• Circulating Supply: 130,000,000.00 APT
• Total Supply: 1,000,000,000

APT Token Allocation

On October 12, 2022, the mainnet was launched. At mainnet, the initial total supply of Aptos tokens (APT) was one billion tokens.

• Community: 51.02% ~ 510,217,359.767 APT
• Core Contributors: 19.00% ~ 190,000,000.000 APT
• Foundation: 16.50% ~ 165,000,000.000 APT
• Investors: 13.48% ~ 134,782,640.233 APT

Distribution Schedule

For community and the AptosFoundation

This token pool is reserved for ecosystem-related items such as grants, incentives, and other community-building initiatives. Some of these tokens have already been allocated to Aptos-based projects and will be distributed upon completion of certain milestones. The Aptos Foundation owns the vast majority of these tokens (410,217,359.767), while Aptos Labs owns a smaller portion (100,000,000). These tokens are expected to be distributed over the course of ten years:

For the Community category, 125,000,000 APT are initially available to support ecosystem projects, grants, and other community growth initiatives now and in the future.

For the Foundation category, 5,000,000 APT are initially available to support Aptos Foundation initiatives.

Each month for the next ten years, 1/120 of the remaining tokens for the community and the Foundation are expected to be unlocked.

For for Core Contributors and Investors

All investors and current core contributors are subject to a four-year lock-up period, excluding staking rewards if applicable, beginning with mainnet launch and ending when the following schedule is meet.

There will be no APT available for the first twelve months. 3/48ths of such tokens become available on the 13th month after mainnet launch, and each month thereafter until the 18th month.

Beginning on the 19th month after mainnet launch, 1/48th of the tokens unlock each month thereafter, until all such tokens are unlocked on the four-year anniversary of mainnet launch.

Token Release Schedule

Today, over 82% of tokens on the network are staked across all categories, with the majority of these currently locked in accordance with the distribution schedule outlined above and not available for release.

History and Team of Aptos Project

Mo Shaikh (CEO) and Avery Ching founded Aptos (CTO). They first collaborated at Meta (formerly Facebook) on the Diem blockchain and Novi wallet projects. Novi's Strategic Partnerships were led by Shaikh, while Ching was a Principal Software Engineer on the crypto platform team.

Their goal was to build a blockchain that would advance the "decentralization movement" while maintaining "reliability, safety, and usability." These issues, according to Shaikh and Ching, stymied global blockchain adoption, from "the average individual to the world's largest enterprises." As a result, they reassembled the original "creators, researchers, designers, and builders of Diem, the blockchain that was originally built to serve this purpose."

Funding Rounds of Aptos Project

Aptos underwent several rounds of funding, with many large investment funds taking part. And the fact that this project has received such substantial funding from reputable investors speaks volumes. The project has raised $350 million in three rounds of funding.

In March of this year, the project received a $200 million investment led by Andreessen Horowitz (a16z), with participation from Tiger Global, Multicoin Capital, Three Arrows Capital, FTX Ventures, and Coinbase Ventures, among others.

In July of this year, Aptos raised $150 million in a Series A funding round led by FTX Ventured and Jump Crypto. Andreessen Horowitz, Multicoin Capital, and Circle Ventures made investments, as did other cryptocurrency companies such as Binance.

Their most recent funding came on September 15, 2022, in the form of a Venture - Series Unknown round.

The project is backed by a group of 23 investors. The most recent investors are Binance Labs and ParaFi Capital.

Is the Aptos Project a good investment?

The cryptocurrency price is volatile. Every investment has its share of ups and downs. Aptos is not an exception.

Aptos project may be a worthwhile investment for those who truly believe in the value of cryptocurrency and its future applications.

However, because the crypto market, like the stock market, is extremely volatile, it is not recommended that you invest all of your assets in crypto. Investors must definitely weigh the benefits and drawbacks. You should occasionally conduct research, such as reading the project's white paper or checking historical price or Aptos Return On Investment data (ROI). It all comes down to your risk tolerance.

Where can I buy Aptos tokens?

To purchase APT, you must first purchase another cryptocurrency that can be purchased with fiat currency, such as (USDT, BTC, ETH, or BNB), and then send them to a crypto exchange or crypto wallet that supports APT trading.

Many cryptocurrency exchanges and wallets offer USDT over-the-counter (OTC) trading services and support purchasing USDT with fiat currency. In that case, you can easily select a crypto exchange or crypto wallet to buy, sell, and trade USDT with your local fiat currency, such as USD, EUR, TRY, PHP, and so on.

The popular new layer 1 token was listed on the first exchanges, including FTX, Coinbase, and Binance. You can now purchase APT on the following exchanges.

• Huobi Global
• FTX
• Kucoin
• OKX
• Binance

Conclusion

Hopefully, you can answer these questions about the Aptos Project. Don't foget to follow our channel for more useful information about crypto projects in the market.

Learn more about the Aptos project here:

• Website: https://aptoslabs.com/
• Twitter: https://twitter.com/aptoslabs

FQAs about Aptos Projects

How does the Aptos blockchain work?

The Aptos blockchain works by storing information as a resource, which could make it more secure.

Is Aptos a decentralized system?

Because blockchains are decentralized, aptos is also decentralized, at least in theory. It does, however, depend on how you define decentralization, because some blockchain enthusiasts may object to the platform having two founders.

About Market247.io

Market247.io offers fundamental and technique analysis about potential crypto projects and hidden gems. By doing so, we hope to bring information promptly to support investors making investment decisions. All information provided by Market247.io is just as a reference, not an investment advice.

Follow us on:

Twitter: https://twitter.com/Market247_io

Telegram: https://t.me/Market247_news

Community: https://t.me/market247news

Facebook: https://www.facebook.com/groups/market247.io

Another post

Lido DAO ($LDO) - A Staking Solution for Ethereum, Terra, and Solana.

Cardano ($ADA) - Open-Source Smart-Contract Platform - Market247.io