I. What is Aptos?
Aptos Token (APT) is a blockchain/layer 1 project. Currently, Aptos is building a blockchain with good scalability, and high security. Known as a former Meta member (formerly Facebook) foray into a big break, Aptos Token has officially launched in the crypto market. Aptos Token’s mission is to help users access decentralized assets fairly.
Aptos is a brand-new, autonomous project with the goal of giving many individuals all around the globe access to the safest and most accessible blockchain. Aptos aims to become a layer-1 blockchain by overcoming its two senior blockchains which are Ethereum and Solana.
II. History of Aptos
In fact, Aptos Token is the successor of Diem – the cryptocurrency payment network founded by Meta. Diem was acquired by Silvergate Capital for $182 million. However, the project quickly died out because there was not enough development potential.
Although Diem’s life cycle has ended, the value of the project is still received and utilized by former Meta employees. Based on Diem’s vision and features, Aptos Token (APT) was born with the leadership of Mo Shaikh.
Not long after leaving the old company, Shaikh earned himself a huge funding source from big investors, such as Andreesen Horowitz (a16z), Hashed, Three Arrows Capital, Multicoin, etc.
Binance Labs stated that it will become a strategic investor and that Aptos would join the BNB Chain family at the end of March 2022. The fusion of the two L1 blockchains will foster new large-scale Web2 use cases as well as technological and commercial innovation.
III. Striking Features of Aptos (APT)
Aptos is a brand-new, autonomous project with the goal of giving many individuals all around the globe access to the safest and most accessible blockchain. By overcoming its two senior blockchains, Ethereum as well as Solana, Aptos aims to become a layer-1 blockchain.
With quality staff and huge funding from major investors, Aptos has officially launched the Devnet version and is expected to complete the Mainnet in the third quarter of 2022.
Comparing the Aptos blockchain to other layer-1s, some standout features are as follows:
- The Move project’s main focus is the Aptos programming language, which was created for safe resource management and simple blockchain command verification.
- Low latency Byzantine Fault Tolerant (BFT) mechanism: Team Aptos worked diligently to improve their BFT mechanism over a lengthy period of time, assuring the network’s security even in the event that individual nodes are compromised and exploited against it.
- Having the option to alter the private key will boost user security.
- High TPS: Under laboratory conditions, if a number of storage, consensus, network, and so on. The TPS for Aptos might be between 125,000 and 160,000.
- Network Upgradability: According to the Aptos team, the network must have high upgradeability in order to respond to the quickly changing market. To support future ongoing network upgrades, they developed Aptos with the capacity to upgrade the network without causing disruption.
- Validators can run a variety of nodes. Starting with the simplest node running level, which has been scaled back so that validators only need to meet the bare minimum, validators can choose to run nodes at a variety of levels, from which they can quickly increase the number of validators for the network.
IV. Core Technology of Aptos (APT)
Aptos’ Move programming language is a central highlight of the project. “Move” is designed to be able to securely manage resources, and to be able to verify themselves on the blockchain. Move’s static-typing is said to be an improved, much stricter version of Ethereum’s smart contract language. Modern programming languages like Rust, Golang, Typescript, Haskell, Scala, OCaml, etc all choose static-typing because it has the advantage of being able to detect many program errors.
Compared to other programming languages, Move has the ability to manage and verify resources on the Blockchain to ensure safety. When transactions are made, they will have 2 states: Implicitly Determined & Measured.
- Identify & Hide: Transaction results will be predicted based on available information and the current state of the ledger.
- Measurement: Transactions will be “protected” from cyberattacks. In fact, the Aptos Token Blockchain and Move developed at the same time three years ago. Therefore, products on Aptos Token Blockchain, such as transaction fees, accounts, standard library, validator node management, and configuration are deployed in parallel with Move.
V. What is APT?
1. Detailed Information about APT
- Token Name: Aptos Token
- Ticker: APT
- Blockchain: Aptos
- Contract: Updating…
- Token Type: Updating…
- Total Supply: 1,000,000,000 APT
2. APT Allocation
Token allocation & Token payment schedule:
- 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
3. APT Noticeable Milestones
- 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
4. Use Cases of APT
The APT token is used to:
- Stake to maintain the existence of the ecosystem.
- Make gas fees when users make transactions.
- Support users to participate in network administration.
- Support users to create liquidity.
VI. Which Crypto Wallets are suitable for APT?
The APT and AIT-3 standard tokens are kept on the Aptos blockchain in the Aptos Wallet. On the Aptos platform, you can communicate with applications and give and receive APT tokens.
Particularly, since your wallet is your property, only you have the authority to control it and utilize it.
There are three very crucial details about an Aptos wallet that you must be aware of:
- Wallet address: A sequence of numbers and characters used to send assets to the Aptos wallet. Others can transfer coins to you through the wallet address you provide. An Aptos (APT) wallet address will have the following format: 0x4184CED912A14E6AD2Ad4F4Cb3026aC866153c4d.
- Passphrase: A security key that can be understood as a password consisting of any 12 English keywords. If you want to perform the wallet recovery operation, you must go through the Passphrase login step. Format of a Passphrase: web erase horse you rubber potato maximum piece daughter dynamic trial male.
- Private Key: A string of letters and numbers to connect to the account, quite similar to the password of a bank account. Format of a Private Key: 0x6128e76b3690edfefc94c47a0542b7cd6ff9fcac956fa5b12bdc1a10dc76ab55
You can picture the Aptos wallet as a bank account, with the passphrase serving as the password, and the wallet address serving as the account number.
With a bank account, however, other individuals will be aware of your personal information. Regarding the Aptos wallet, transactions only take place through the address, which is encoded into a string of numbers and characters, and the user becomes anonymous; nobody knows who owns the wallet.
VII. APT Recent Developments
Although Aptos has undergone a lengthy development period, so far, no public events have taken place before the beginning of 2022:
- 2022 Q1 (March 15): Improve the Move programming language to be more developer-friendly, enabling developers – Testnet for developers.
- April 21, 2022: Running nodes is simpler with Google Cloud as a data storage application. However, if Aptos chooses to employ Google’s services, this has an impact on the blockchain’s decentralization.
- 2022 Q2: The first time the testnet is made accessible to the public for use and node operation.
- Mainnet public in Q3 2022: This will be Aptos’ following significant achievement. The community is eagerly awaiting the Aptos mainnet event after $350 million was successfully raised.
- Q4 2022 – Q1 2023: Aptos continues to grow its network with new updates.
- Mainnet Announcement
On October 18th, Aptos announced that it had successfully deployed the project’s main blockchain network (mainnet) after 4 years of development. In the latest update, the Aptos developers did not disclose much information about the mainnet’s operational status or the schedule of opening the blockchain to the general public (not announcing the network’s RPC). The Aptos ecosystem is also not live yet, with a lot of wallet projects, exchanges, DeFi, and NFTs yet to launch. The Aptos native coin itself, APT, is also not mentioned in the post.
VIII. Team and Funds of APT
1. Team
The founding teams of the Aptos project are former members of Meta company – who used to participate in the development of Diem. Currently, this founding team is focusing on researching a Blockchain platform capable of connecting millions of users. It can be said that Aptos is the “first child” founded by the team. The head of the case is Mo Shaikh – a former core member of Meta.
2. Investment Funds
$200 million was raised by Aptos in March 2022 from a group of illustrious cryptocurrency investors. Andreessen Horowitz, a venture capital company that has invested in multiple cryptocurrency firms, led the investment round for Aptos. Tiger Global, Three Arrows Capital, Multicoin Capital, and Coinbase are also contributing funding.
IX. Where is Aptos (APT) information to be updated?
Currently, Crypto users can fully consult, research, and analyze information about Aptos (APT) through famous media newspapers such as Nasdaq, Bloomberg, Forbes, AP News, Yahoo!Finance, CoinTelegraph, Coindesk, etc.
These media are constantly updated with useful information, new activities, outstanding events of Aptos (APT), and all the topics surrounding it. Accordingly, Meta Lion Ventures continuously updates the topic of outstanding projects in Blockchain and hot events organized between Meta Lion & partners.
X. FAQs about Aptos (APT)
- When can Crypto users buy APT tokens?
They are anticipated to go live in Q3 2022, the same quarter that the APTOS cryptocurrency may potentially debut.
- What is Aptos Blockchain?
In order to reach high levels of throughput and low latency, Aptos is a highly scalable and distinctly modular Layer 1 blockchain that makes use of numerous new approaches to transaction flow, parallel execution, and the transaction processing lifecycle. September 30, 2022, by David Shuttleworth.
- Is Aptos a Layer 1?
A brand-new layer 1 protocol called Aptos seeks to surpass Solana and Ethereum. Venture capitalists have contributed $350 million to the APT team. On the Aptos testnet, the network has added more than 20,000 nodes thus far.
- Is Aptos Proof of Stake?
Former Meta developers who previously worked on the company’s $200 million cryptocurrency project “Diem” before it was abandoned in January 2022 developed Aptos, a Layer 1 blockchain that is based on a Proof-of-Stake (PoS) consensus mechanism.
Conclusion
To summarize, by developing a blockchain with great security and good scalability, Aptos Token promises a “slow-exploding bomb” that has shaken the cryptocurrency market. Despite having a lot of cons, Aptos still has some pros such as unexpected technology promise as well as unsuitable release time.
However, users still believe in the huge development potential of Aptos in the future. Meta Lion, therefore, supplies all available data on the Aptos (APT) project and is ready to update with the most recent information.
The above is Meta Lion’s comment on the Aptos project which is our personal opinion, this is not investment advice at all. Investors should be responsible for their own decisions.
