What is Aptos (APT)? The highlight Layer 1 Blockchain in next bullrun season

1. What is Aptos?

Aptos is a Layer 1 blockchain, sharing similarities with established platforms such as Ethereum, Near, and Solana. Functioning autonomously, Aptos has a mission to establish inclusive and global accessibility to decentralized assets for a vast population. Positioned as a promising Layer 1 blockchain for the future, Aptos traces its roots back to the Meta (formerly Facebook) project, Diem. However, legal challenges prompted the discontinuation of Diem Stablecoin operations. Former Meta employees, in pursuit of a decentralized network vision, embraced the open-source code of Diem. This initiative resulted in the creation of two pioneering Layer 1 projects, Aptos and Sui, both utilizing the Move programming language.

2. Core technology of Aptos

2.1. Safety and Security

2.1.1. Move Language: A secure and flexible blockchain language

The Move language is a key focal point in the Aptos project. Designed to safely manage resources and verify them on the blockchain, Move stands out among programming languages. Its ability to manage and verify resources on the blockchain ensures safety. Transactions on the Aptos blockchain have two states: deterministic & confidential, and measurable.

Determinism and Confidentiality: Transaction outcomes are predictably based on available information and the current state of the ledger.
Measurement: Transactions are "safeguarded" against transaction-level denial-of-service attacks. Aptos Token Blockchain and Move were developed simultaneously three years ago. Therefore, products on the Aptos Token Blockchain, such as transaction fees, accounts, the standard library, validator node management, and configurations are all deployed in tandem with Move.

2.1.2. BFT consensus protocol

The Byzantine Fault Tolerant (BFT) system ensures a accurate consensus and functioning of a distributed computer network. This means that the system can keep operating even if some nodes are faulty.

Aptos' innovative reputation system analyzes the on-chain state and automatically updates sessions to adjust verifiers without human intervention, making it well-suited for decentralized environments.

Maintaining the integrity of BFT ensures Aptos won't fork during network inaccessibility or compromised non-safety core. The safety of the BFT consensus protocol has undergone formal verification and audits.

2.2. Scalability and Performance

The challenges of high transaction fees, limited throughput, and intricate design hinder the broad acceptance of both Layer-1 and Layer-2 blockchains. Furthermore, the expensive nature of on-chain storage presents performance obstacles when expanding to handle billions of accounts and trillions of on-chain and off-chain assets.

Aptos takes a holistic approach, emphasizing user-centric performance. The project contends that Layer-1 blockchains should shoulder greater responsibility for scalability to simplify and enhance user experiences, facilitating widespread adoption.

2.3. Upgradability

The Aptos blockchain has been purposefully engineered to adapt and improve as a core asset. It has successfully executed major upgrades without disrupting its continuous operation. To achieve this goal, the verification process is managed and configured using on-chain state, allowing the community to efficiently vote and promptly implement upgrades. Rigorous testing and robust deployment practices ensure a secure and reliable transition.

3. Team

The Aptos Labs development team is a robust collective comprising 200 members, guided by two key leaders:

Avery Ching - Co-Founder: Avery Ching serves as the Co-Founder and Chief Technology Officer at Aptos. His professional journey includes a significant tenure as a Principal Engineer at Novi wallet and Yahoo.

Mo Shaikh - Co-Founder: Mo Shaikh brings a wealth of connections and experience with roots in traditional financial markets. Having worked at renowned institutions like Blackrock and Consensys, Mo Shaikh served as the Director of Strategy at Consensys for a commendable three-year term.

4. Investors & Partners

Aptos has achieved remarkable success in fundraising, amassing a substantial sum exceeding 350 million USD from leading venture capital entities. This accomplishment solidifies Aptos' standing as one of the most well-funded Layer 1 blockchains in the industry.

Aptos has secured strategic investments, including undisclosed amounts from influential entities such as Binance Labs and DragonFly Capital.

In the most recent strategic investment round led by Binance Labs, Aptos reached an impressive valuation of up to 4 billion USD. For detailed insights into this strategic backing, interested parties can refer to the official announcements on Binance and DragonFly platforms.

5. Tokenomics

5.1. Key metrics

Project Name: Aptos
Symbol: APT
Blockchain: Aptos
Total Supply: 1,000,000,000 $APT
Circulating Supply: 236,509,691 $APT

5.2. Token Allocation

The detailed unlocking schedule is as follows:

Investors: 13.5% locked for 12 months, then unlocked in the 13th month, followed by linear releases every month for the next 4 years.
Aptos Foundation: 16.5%, unlocking 5,000,000 $APT at the time of Token Generation Event (TGE), followed by linear releases every month for 10 years.
Community: 51%, 125,000,000 $APT unlocked at TGE, then released linearly every month for 10 years.
Core Contributors: Locked for 12 months, then unlocked in the 13th month, followed by linear releases every month for the next 4 years.

6. Channels

Website: https://aptoslabs.com/
Twitter: https://twitter.com/Aptos_Network
Discord: https://discord.com/invite/aptosnetwork

7. Conclusion

Aptos emerges as a standout Layer 1 blockchain, poised for the impending bull run. With cutting-edge technology, substantial funding, and robust support from industry-leading venture capitalists, the future development of Aptos holds promise. Stay tuned for the unfolding journey of Aptos in the times to come.

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