HomeGeneral knowlegdeWhat is Aptos (APT)? Overview of the Aptos . ecosystem

What is Aptos (APT)? Overview of the Aptos . ecosystem

Along with Sui, Aptos It is a name that has been mentioned a lot in recent times. In this article, let's learn about Aptos and projects inside the ecosystem with BTA!

What is Aptos?

Aptos is a layer 1 blockchain developed by Aptos Labs with the vision of becoming the most scalable blockchain, providing the most security and trust.

Aptos has been developed over the past three years by more than 350 developers globally. Aptos provides new and novel innovations in consensus, smart contract design, system security, processing performance and decentralization. 

Aptos is developed using the Move programming language, Move is a programming language developed for the former Meta's Diem project (however, the project was later canceled due to legal issues). .

How does Aptos work?

The main feature of Aptos is parallel execution. Most current blockchains use a method of transaction sequencing known as serial or sequential execution, in which a sequence of transactions is constantly updated: every time you make a transaction, the transaction That translation will be added to a single ledger containing every transaction ever made on the network and updated across thousands of nodes.

Because they are all added once, it is necessary to wait for each transaction to be verified, which will provide greater security, but will slow down the transaction speed.

Highlights of Aptos

Use the Move programming language: Safe and flexible language

Move is a Rust-based programming language. Move is a programming language for writing secure smart contracts originally developed for the Diem blockchain project by Meta (formerly Facebook) to increase scalability and security for Diem.

The Move programming language is designed for secure resource management and verifiable execution on the blockchain. The blockchain of Aptos and Move was co-developed at the same time over three years ago. All accounts, transaction fees, standard libraries, node validators management, and configuration are implemented with Move.

BFT . Consensus Protocol

Aptos uses consensus protocol Byzantine Fault Tolerant (BFT) is derived from Diem's ​​HotStuff protocol to improve latency. BFT works in such a way that when nodes on the network are down or the network does not fail. However, the system continues to run while validating transactions.

Private key recovery

To reduce user hacking and key theft, Aptos gives every account the flexibility to exchange their private keys for enhanced security. Validators may also periodically change their consensus key for added security.

Scalability and fast transaction speed

One of the biggest problems of blockchain since the early days of development is scalability, Ethereum is known for stability, but transaction fees on Ethereum are relatively high.

Other blockchains like Solana or Avalanche have different solutions, but they still have limitations and are often congested. 

What about Aptos? As announced by the developers, during the testnet phase, Aptos showed a positive sign when it reached a record of 160000 concurrently processed transactions in 1 second. However, this is only the testnet phase, we need time to see if Aptos will achieve this in the upcoming mainnet.

Team

Aptos was founded by Aptos Labs with more than 30 members, co-founded by 2 former Meta employees (formerly Facebook) Mo Shaikh and Avery Ching who originally built the Diem blockchain. Avery Ching, is one of the world's leading experts in building distributed systems and general scaling for billions of users. 

The rest of the founding team at Aptos includes a group of PhDs, researchers, engineers, designers and strategists including Alden Hu, Alin Tomescu, David Wolinsky, Greg Nazario, Jake Skinner, Josh Lind , Max Kaplan, Mo Ahmed, Neil Harounian, Rati Gelashivili, Rustie Lin, Sasha Spiegelman, Sherry Xiao, Sital Kedia and Zekun Li,…

Competitors

The competitors of Aptos that can be mentioned are Sui and Solana. Sui raised $300 million in a Series B round in September and raised the company's valuation to $9 billion. Earlier in the Series A round, Sui also raised $2 million led by a36z.

Also there are many similarities between Mysten Labs and Aptos Labs:

  •  Aptos and Sui are both developed by a team of former Meta (formerly Facebook) employees who worked on the Diem blockchain project before. 
  • Both use the Rust-based Move programming language developed at Facebook. And especially Aptos and Sui are supported by common VCs like Binance Labs, FTX Ventures, Jump Crypto, etc.

Partners and investors

In March 3, Aptos raised $2022 million in a first round of funding led by a200z with participation from Tiger Global, Katie Haun, Multicoin Capital, Three Arrows Capital, FTX Ventures and Coinbase Ventures, among others.

Just recently on July 25, Aptos went on to raise another $7 million in Series B led by FTX Ventures and Jump Crypto, in addition to the participation of Binance Labs Multicoin Capital and Circle Venture…

Tokenomics

About the Aptos . token

  • Token Name: Aptos Token
  • Ticker: APT
  • Blockchain: Aptos
  • Contract: Updating…
  • Token Type: Updating…
  • Total Supply: 1.000.000.000 APT

Token allocation and Token payment schedule

APT . Token Allocation

  • Community (51.02%): 510,217,359.767
  • Core Contributors (19%): 190,000,000
  • Foundation (16.50%): 165,000,000
  • Investors (13.48%): 134,782,640.233

APT . token payment schedule

Roadmap

Q1 2022: Launch of developer testnet

Q2 2022 – Launched Incentivized testnet program 

3rd Quarter 2022 – Mainnet Launch

Q4/2022 – Q1/2023 – Roll out the next major release to mainnet with the next set of important features.

Currently, the first 2 phases have been deployed, the 3rd mainnet phase, the team has postponed the mainnet launch time.

Overview of the ecosystem

Infrastructure

OtterSec:  is a security blockchain platform built with the goal of raising the security standard of blockchain.

SynthMeta: is a DeFi infrastructure built on asset aggregation algorithms, including 4 main modules, Synth Minter, Synth Exchange, Synth NFT, Initial Synthetic Birth (ISO). SynthMeta focuses on building a financial portal that bridges the traditional crypto and financial worlds through exchanges, NFTs, etc.

Saber Labs: 1 top AMM stableswap on Solana.

In addition, projects on the array Infrastructure on Apt include: Rings Network, Aptos Eden, MoveBit, Move MarketCap, Aptosphere, xMS Notification, BlockPI, dialect, FYEO, Paymagic.

DeFi

Pontem Network: is a product development studio, specializing in building foundation and infrastructure dApps for Aptos using the Move programming language previously raised $4.5 million and backed by leading backers such as: Alameda Research , Animoca Brands, etc. The main products of Pontem Network include: Liquidswap DEX, Pontem Wallet, Move Playground, Ethereum Virtual Machine (EVM) Layer for Aptos.

Vial: Algorithmic liquidity protocol on Aptos, currently the project has launched devnet.

Mojito Markets: Decentralized prediction market on Aptos

KX.finance: is a DeFi / DEX aggregator built on Aptos and Sui to support launching projects as well as managing profits for platform users. 

In addition, projects about DeFi on Apt include: Tsunami Finance, Aptin Finance, Aries Markets, Thala Labs, Econia, AUMI, laminar, Ditto, The Real AptoSwap, Tortuga Finance, Snowflake, Enchanter Finance, Snotra, Apsolut Protocol, Aptoswap, Foil Labs, Mobius, Aptoslend, Hanson, Argon, Cetus, HoustonSwap, ferum, Delta Money, Palladium, Kairos.

Oracle

Oracle projects built on Aptos include: switch board, MetaOracle, DotOracle.

Name Services

Projects that provide domain names on Aptos include: apt ID, Move Name Service, Aptos Passport: currently all 3 projects have websites and are in testnet stage.

game fi

Current GameFi projects on Aptos include: Aptos Game, AptoSport, imcoding.online, Aptos CODM, APTOS SHIBA, KeplerHomes

Currently, GameFi projects on the Aptos ecosystem are still in the development stage and will be launched soon in the near future.

Wallet

Wallets that currently support the Aptos blockchain include: Martian, Fletch Aptos Wallet, Pontem Wallet, Fewcha Wallet, BlockoApp, ONTO Wallet, Petra, EVO Wallet, Rise Wallet, Spika, hive, Volt.id, Coin98.

NFT

Current NFT projects on Aptos include: Aptos Punk, Rekt Dogs, Aptos Monkeys, Aptos BULLS, Aptos Ape Society, The Uglies NFT, Aptos Crown Masks, Aptos Koalas Army, Nevermores, The Aptos Chads, Aptos Alpha, Aptfefeomingos, Unicornses on APTOS, RetroBoysNFT, BRUH BEARS, The Bussin Boomers, Degen War Seagull, NFMS, Aptos Toad Overload, Aptos Droppy Dragons, InSilva, Aptorses, Aptos Alpha Alpacas.

NFT Marketplace

NFT Marketplaces on Aptos include: BlueMove, Souffl3, Topaz, Top NFT, Space Powder, Sea Shrine, Pond, Nightly Market, Acova

SocialFi

SocialFi projects being built on Aptos include: Knoknok Metaverse, ComingChat, Aptos Yoka, Date3

Bridge

MOVER: is the first bridge between EVM and Aptos.

Launchpad

APTOSPAD, AptosBase, AptosLaunch, Dao Starter, Meeiro, Proton Sale, Aptopad, Orion: are the current lauchpad platforms launching on Aptos

Summary

Aptos is receiving a lot of interest from the top investment funds in the market and attracts a large number of interested people even though it is not yet on the mainnet. With an experienced team, Aptos is promised to be the next unicorn of the crypto market in the coming period and gives new life in the race of Layer 1 blockchains.

Aptos is an early stage blockchain and most of the projects in the ecosystem are still in the testnet stage, so the chance for us to experience the projects on the ecosystem and receive the Airdrop is very high.

With the information that BTA provides, hopefully everyone will have more information about the project and make the right decision in their investment! BTA articles are for informational purposes only and are not investment advice.

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