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Aptos
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Strengths and Weaknesses
Strengths
- Fast transaction processing
- Experienced team: the team behind Aptos is composed of experienced professionals in blockchain technology and software engineering, with a proven track record of delivering high-quality, secure, and innovative solutions
- Strong security: Aptos leverages the latest iteration of DiemBFTv4, a novel BFT consensus protocol, providing robust security guarantees and minimizing the impact of failed validators on throughput and latency
- Interoperability: the Aptos blockchain supports global addressing of data and modules, enabling transactions to execute in parallel, and promoting interoperability between different systems and platforms
- Wide applicability: Aptos offers a flexible and configurable state synchronization protocol, making it applicable to a wide range of clients, including light clients, fullnodes, and validators
- Uniqueness: the combination of Block-STM technology, Move programming language, and BFT consensus makes Aptos a unique solution in the blockchain space, offering a powerful combination of performance, security, and versatility
Weaknesses
- High fees: some users may find the cost of conducting transactions on the Aptos blockchain to be higher than other blockchain options, potentially discouraging adoption and use
- Forced investment: the use of Aptos may require users to hold and stake a certain amount of its native coin, which could be seen as a barrier to entry for some users without the necessary resources
- Bad presentation / marketing: some experts have commented that Aptos’ lack of effective presentation and marketing could limit its success in terms of gaining adoption
- No slashing: the protocol is implemented in the validator client with no slashing mechanism, which could be seen as a potential weakness by some users
Basic Information
The Aptos blockchain is a next-generation platform designed to address the challenges that are preventing the mass adoption of blockchain technology. With a focus on scalability, safety, reliability, and upgradeability, the project has been developed over the past three years by a global team of over 350 developers. The platform integrates the Move language for fast and secure transaction execution and modular approach for transaction processing to achieve high throughput and low latency.
Aptos also offers innovative solutions for data management, security, and client flexibility. The data model enables flexible key management and hybrid custodial options, while the transaction transparency and light client protocols provide a safer and more trustworthy user experience. The platform's modular architecture supports frequent and instant upgrades, and the Aptos team is exploring initiatives to scale beyond individual validator performance through internal sharding and homogeneous state sharding.
With these technologies, the Aptos blockchain is set to become one of the fundamental building blocks for bringing the Web 3.0 era to the masses. Its combination of security, performance, and upgradeability makes it a trusted, scalable, cost-efficient, and continually improving platform for building widely-used applications.
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Functioning of the Chain
The Aptos blockchain is a decentralized network of validators that process transactions from users. The validators are chosen based on the number of coins staked by the coins holders with each validator. A validator can be active, inactive, or not participating. Clients, fullnodes, and light clients are the different parts of the system that interact with the blockchain. Fullnodes replicate the entire transaction and blockchain state, while light clients only maintain the current set of validators. Wallets are a common example of light clients.
The Aptos blockchain is designed with several core principles to meet the needs of safe, fast, reliable, and upgradeable Web 3.0 infrastructure, including:
- fast and secure execution with the new smart contract programming language, “Move”
- extremely high throughput and low latency through a batched, pipelined and parallelized approach to transaction processing
- novel parallel transaction processing that supports atomicity with arbitrarily complex transactions
- optimizations for performance and decentralization with rapid, stake-weight validator set rotation and reputation tracking
- upgradeability and configurability as first-class design principles
- modular designs that ensure secure, reliable operations
- horizontal throughput scalability while preserving decentralization
1. Move language: how developers interact with Move in the Aptos Blockchain
Move is a new smart contract programming language developed for the Aptos blockchain. It prioritizes safety and flexibility and uses its object model to represent the ledger state. Transactions submitted by users can publish new modules, upgrade existing ones, and execute entry functions defined within a module. The Move ecosystem includes a compiler, virtual machine, and developer tools. The language, inspired by Rust, emphasizes resource scarcity and control by defining the lifetime, storage, and access pattern of each resource. Move also includes a bytecode verifier for type and memory safety and a formal verifier, "Move Prover," to verify program functional correctness. The Aptos blockchain allows for module upgradeability and fine-grained resource control, enabling near-fixed cost data access and mutation, large-scale datasets, and shared or autonomous accounts represented on chain.
2. Logical Data Model:
The Aptos blockchain represents the state of all the accounts through its ledger state, which is versioned using an unsigned 64-bit integer corresponding to the number of transactions the system has executed. Anyone can submit a transaction to the Aptos blockchain to modify the ledger state. Upon execution of a transaction, a transaction output is generated, containing zero or more operations to manipulate the ledger state, called write sets, a vector of resulting events, the amount of gas consumed, and the executed transaction status.
A signed transaction on Aptos contains important information such as the sender's address, payload, gas price, maximum gas amount, sequence number, expiration time, and chain ID. The transaction is authenticated using a digital signature and the payload can either reference an existing entry function or contain inlined bytecode and input arguments. During transaction execution, events can be emitted and stored within the ledger for later querying. Accounts on Aptos are unique and identified by a 256-bit account address, which can be created through the "create account" function when a transaction is sent to an uncreated account.
The example on-chain Move modules on the Aptos Blockchain include "coin" and "wallet." To create a new account, a user must first generate a signature key pair and derive the new account address using a cryptographic hash.
3. Safe User Experience: details of how the Aptos Blockchain enables a safe user experience through strong verification methods
The Aptos blockchain is a cutting-edge technology that provides a safe and secure user experience through various verification methods.
The following are the key highlights of how Aptos ensures user safety:
Transaction viability protection
Aptos implements various security measures to protect transactions and prevent malicious activities, including the sender's sequence number, transaction expiration time, and designated chain identifier. These measures guarantee unique transaction numbers, valid transactions, and secure transactions across different blockchain environments. The combination of these security features creates a secure and reliable blockchain system for users.
Move-based key management
Aptos accounts support "key rotation," which helps reduce the risks associated with private key compromisation and other malicious attacks. Aptos also enables new hybrid models of custody, where users can delegate the ability to rotate the key to trusted entities.
The Aptos ecosystem provides full transparency of all key-related operations through its "Move-based key management" feature, making it easier to implement a secure wallet.
Pre-signing transaction transparency
Aptos provides "transaction pre-execution services" that describe the outcomes of a transaction in a human-readable form before signing. This reduces the risk of fraud and protects users from malicious applications or social engineering attacks.
Practical light client protocols
Aptos provides "state proofs" and "light client verification protocols" to prevent API providers from returning incorrect or malicious blockchain data. Light clients can use these protocols to verify the validity of data being presented by an untrusted third-party server.
4. Pipelining, Batching, and Parallel Transaction Processing
The Aptos blockchain is designed with performance in mind, incorporating innovations in pipelining, batching, and parallel transaction processing. Transactions are divided into parallelizable stages and grouped into batches for maximum efficiency. The blockchain leverages DiemBFTv4, a novel BFT Consensus Protocol, and adopts a physical timestamp for every proposed block.
The Move data model supports the global addressing of data and modules, enabling parallel execution. The Block-STM parallel execution engine leverages optimistic concurrency control and achieves a 16x speedup under low contention. Transactions are batch stored in memory for maximum speed, and ledger certification provides trust to clients by implementing ledger history and state certification.
The Aptos blockchain prioritizes performance and innovation, and the project is dedicated to providing a more efficient and effective blockchain experience.
5. State Synchronization
State synchronization on the Aptos blockchain is designed to provide efficient and effective dissemination, verification, and persistence of blockchain data to light clients, fullnodes, and validators. Aptos leverages the authenticated ledger history and certified state proofs to offer a flexible and configurable synchronization protocol.
Clients can select different synchronization strategies to optimize for their use cases and requirements. For fullnodes, Aptos allows multiple options, including processing all transactions since the beginning of time, or synchronizing only the latest state using waypoints. For light clients, options include synchronizing partial blockchain states and enabling verified state reads.
Aptos allows participants to configure the amount and age of data to fetch, process, and retain. By adopting a flexible approach, Aptos can adapt to various client requirements and offer new, more efficient synchronization strategies in the future.
The Aptos blockchain provides: API, SDK and Move references for people who are interested in joining. Ref. link here.
State synchronization on the blockchain is flexible and configurable, allowing clients to select different synchronization strategies to optimize for their use cases and requirements. The blockchain leverages its authenticated ledger history and certified state proofs to offer efficient and effective dissemination, verification, and persistence of blockchain data to light clients, fullnodes, and validators.
Development History
The development history of the Aptos blockchain is still a recent one, with its origins dating back to the early 2020. The project was created with the goal of providing a high-performance, low-latency blockchain solution that could be used by a wide range of participants, including light clients, fullnodes, and validators.
In the first half of 2022, the Aptos team made significant progress in the development of the core technology, including the Move programming language, the Block-STM parallel execution engine, and the DiemBFT consensus protocol. These innovations helped to lay the foundation for the Aptos blockchain, providing a fast and secure platform for decentralized applications.
Throughout the latter half of 2022, the Aptos team continued to refine and improve the technology, focusing on areas such as scalability, interoperability, and user experience. In November 2022, the Aptos blockchain went live, marking the beginning of a new era for decentralized applications.
Since its launch, the Aptos blockchain has attracted a growing community of developers, users, and investors, who are attracted to its high-performance and low-latency platform. With its focus on innovation, the Aptos blockchain is poised to play a key role in the development of decentralized applications in years to come.
In my experience, after using decentralized applications (dApps) on the Aptos blockchain, I have found that the TPS of the chain is still around 8-22, which is very slow, but the Aptos team promises that the ultimate maximum will be 160,000 TPS. Still, the UX / UI is very impressive to me and there are many dApps that have a lot of potential and serve every sector that the ecosystem needs.
Team
It was founded by Mo Shaikh and Avery Ching, two experienced and highly skilled individuals who bring a wealth of expertise to the table.
Mo Shaikh and Avery Ching are both former employees of Meta, where they worked on the Diem project. Diem was a cryptocurrency project that was backed by Meta, but it was met with strong resistance from regulators and eventually had to sell its assets. Despite this setback, Mo and Avery were undeterred and decided to use their experience and knowledge to build a new and improved blockchain platform, which would eventually became Aptos. Their experience with Move language from the Diem project supported creation of a cutting-edge and user-friendly platform.
Aptos is based in Palo Alto, California.
Mo Shaikh: Co-Founder & CEO
Avery Ching: Co-Founder & CTO
According to an interview with Mo Shaikh, CEO, Aptos now has more than 350 developers working on the project.
Diem was a very exciting project from Meta but after some issues with the US government, it was shut down. Its progression was stopped and the speed ultimately reduced as a consequence, but the people behind the project went on to other ventures. Two of the four project leaders have developed Mysten Labs, another major protocol, and Mo Shaikh and Avery Ching have now gone on to make Aptos.
Both of the founders are experienced professionals in the field of technology and software engineering. Mo Shaikh has been a board member at BankProv and Hunter College, an advisor to R3 and Techstars, and a founder and CEO of Meridio. Avery Ching has been a VP of Apache GIraph at The Apache Software Foundation for 11 years, and has also held positions as a principal software engineer at Novi Financial, Facebook, and Yahoo!.
Governance
- Functioning of governance: every significant feature change and improvement to the Aptos blockchain goes through several phases, including proposal, implementation, testing, and deployment. This process allows relevant parties and stakeholders to provide feedback, share concerns, and offer suggestions.
- Decision making: the final deployment of a software release with its new functionality is achieved through two steps. First, the software is deployed to each node and second, the functionality is enabled via a feature flag or on-chain configuration variable. Upgrades to the Aptos blockchain are seamless and instant due to its on-chain encoding of configuration.
- Governance coin: Aptos’ on-chain governance is supported with $APT and its holders being able to vote with respect to their staked coin weights. On-chain voting protocols are public, verifiable, and can be instantaneous. On-chain governance can also support the enablement of non-binary outcomes without software deployment. Through vote the $APT holders can make decisions such as transitioning to a new quantum-resistant signature scheme, modifying the on-chain leader election protocol parameters, or enabling a new signature scheme. Off-chain upgrade enablement may still be required under certain conditions, but this will be minimized over time. As an open-source project, the Aptos blockchain will depend on strong community feedback and use on-chain governance to manage the appropriate processes.
Revenue & Tokenomics
Aptos revenue model:
Aptos is currently in its development phase and offers the Aptos Name Service and Petra wallet. However, as more and more projects integrate with the ecosystem, transaction fees will become a significant source of revenue for the platform. Every time a transaction is made on the Aptos network, a fee is generated and is currently burned. This practice may be revisited in the future, though, through on-chain governance voting.
Staking rewards are another important source of revenue for Aptos. $APT holders who choose to stake their coins to a validator/ operator for network security and consensus can receive staking rewards. The rewards start at a maximum rate of 7 % annually and decrease by 1.5 % annually until reaching a lower threshold of 3.25 % per year.
Additionally, grants and incentives for ecosystem-related initiatives represent another source of revenue for Aptos Chain. A portion of the initial coin distribution has been designated for this purpose and will be used to support community growth and development.
Tokenomics: according to here:
Aptos is a blockchain platform that utilizes a coin economics system to incentivize and reward network participants for their contributions to the network. The Aptos Foundation has released a summary of the Aptos protocol’s tokenomics, which provides a high-level overview of the coin economics and distribution of Aptos coins ($APT).
Initial Supply:
- Mainnet was launched on October 12, 2022
- Initial total supply of 1 billion $APT
- $APT have 8 digits of precision, with the minimal unit referred to as an Octa
Coin distribution:
- Community (51.02 %)
- Core contributors (19.00 %)
- Foundation (16.50 %)
- Investors (13.48 %)
Distribution schedule for community and foundation:
- Majority of the community coins (410,217,359.767 $APT) held by the Aptos Foundation
- Remaining 100,000,000 $APT held by Aptos Labs - Intended for ecosystem-related items, such as grants,
- incentives, and other community growth initiatives
- Anticipated to be distributed over a ten-year period
Distribution schedule for core contributors and investors:
- All investors and core contributors subject to a four-year lock-up schedule, excluding staking rewards
- Scheduled unlocks according to a set timeframe - no coins available for the first twelve months
- Increasing amounts becoming available each month thereafter until all tokens are unlocked on the four-year anniversary of mainnet launch
Estimated coin supply schedule:
- At present, more than 82 % of the coins on the network are staked
- The majority of these are currently locked in accordance with the distribution schedule
Staking rewards:
- Coin holders who stake their coins to a validator / operator for the purposes of securing the network and achieving consensus, may receive staking rewards
- Rewards are split between validator / operator and nominator, and are not subject to restrictions on distribution
- Maximum reward rate starts at 7 % annually and declines by 1.5 % until a lower threshold of 3.25 % annually is reached
- Staking rewards increase the total supply of the Aptos network and are dependent on the staked amount and validator performance
Transaction fees:
- Currently burned
- May be revisited in the future with on-chain governance voting
- All rewards and reward mechanisms modifiable via on-chain governance
The vesting process for the Aptos coin is designed to ensure that coins are not dumped on the market, which would negatively impact its value. They are gradually released over a period of 2 years, with a portion being released each month. This helps to ensure that the market is not flooded with new coins, which would dilute the value of existing coins.
As of February 2023, there are 50 million Aptos coins in circulation, with the remaining 50 million still in the vesting process. The ratio of locked coins is currently at 20 %, which means that 20 % of the total supply of $APT is locked up and being used to secure the network.
On 18 February 2023
Total Supply: 1,015,668,377 $APT
Circulating Supply: 162,624,556 $APT
Active Staking: 841,868,740 $APT
Lock Ratio: 0.84
The Uniqueness of the Chain
Aptos is a next-generation blockchain platform that differentiates itself from other blockchain projects with its unique features and capabilities. Here are a few ways in which it stands out:
- Move programming language: Aptos uses Move, which is designed to make transactions faster and cheaper. This is a unique feature that sets Aptos apart from other blockchain networks that use more traditional programming languages.
- Dynamic token economics: Aptos has a highly flexible and dynamic token economics system that provides incentives and rewards to network participants. This system is designed to be highly configurable, with the ability to modify rewards and reward mechanisms through on-chain governance. This is a unique feature that allows Aptos to adapt to changing network conditions, and to respond to the needs and interests of its users.
- Decentralized governance: the blockchain is designed to be highly decentralized, with users able to participate in on-chain governance. This allows the community to make decisions about the future direction of the network and ensures that the network remains aligned with the needs and interests of its users. This is a unique feature that sets Aptos apart from other blockchain networks that have more centralized governance structures.
How the Network is Secured
Security is the top priority for Aptos, and the platform is designed to provide robust and secure infrastructure for decentralized applications. Here is a detailed explanation of how the security of the Aptos blockchain works:
- Consensus mechanism: Aptos uses a consensus mechanism that provides strong guarantees of network security and integrity. The consensus mechanism is designed to be highly scalable and efficient, allowing the network to handle a high volume of transactions without sacrificing security.
- Network architecture: Aptos’ network architecture is designed with security in mind. The network is highly decentralized, with nodes distributed across multiple locations and geographics. This helps to ensure that the network is resistant to attack and that no single point of failure can compromise the security of the network.
- Encryption: all data and transactions on the Aptos network are encrypted using state-of-the-art encryption algorithms. This helps to protect the privacy and security of users and ensures that sensitive information remains confidential.
- 1 million USD Bug Bounty: Aptos has a bug bounty program in place that incentivizes security researchers to report vulnerabilities and security issues. This helps to ensure that the network remains secure, and that any potential security threats are quickly identified and addressed.
- KYC and trust: The developers and contributors to the Aptos project are subject to a rigorous KYC (Know Your Customer) process. This helps to ensure that all members of the development team are trustworthy and have a proven track record of security expertise. Additionally, the company behind the Aptos Chain project is a well-established and reputable organization with a strong commitment to security and privacy.
Nodes
How to become a node participant
The Aptos network is built on the principles of decentralization and security, and these principles are reflected in the design of the network's nodes. The Aptos network comprises three types of nodes: validator nodes, operator nodes, and public fullnodes.
To participate in consensus and governance on the Aptos network, you must run both a validator node and a validator fullnode (public fullnode) and stake. The validator node proposes blocks and earns rewards on success, while the validator fullnode is responsible for maintaining the current state of the network. Staking is a way for node operators to earn rewards for securing the network and participating in consensus. The minimum requirement to be a node validator is 1,000,000 $APT with a 7 % staking reward, which will decline in the future.
To become a node operator on the Aptos network, you must have the necessary computing and storage resources, and be able to meet the liveness criteria for the network. The Aptos network provides detailed, step-by-step instructions for running a validator node, connecting to the network, performing staking operations, and shutting down nodes.
In addition to validator nodes, the Aptos network also supports public fullnodes and indexer fullnodes. Public fullnodes allow users to access the Aptos network without participating in consensus, while indexer fullnodes provide advanced indexing and data management capabilities. The Aptos network provides detailed instructions for installing, configuring, and updating fullnodes, as well as for bootstrapping new fullnodes and synchronizing nodes to the latest state of the network.
Overall, the Aptos network is designed to be flexible and scalable, and to provide node operators with the tools and resources they need to participate in consensus, governance, and security on the network. For more information on the Aptos network, including node files, identity and configuration, telemetry, and leaderboard metrics, visit the official Aptos website or consult the official documentation.
More details by following the official link.
Advantages for nodes participants:
Validators: Reward = staked_amount * rewards_rate per epoch * (a number of successful proposals by the validator / total number of proposals made by the validator), epoch time = 7,200 seconds
Operators: commission not yet unlocked
Nominators: you can share part of the operator’s node reward but proposals and votes are not yet subject to commission.
You can become a nominator by staking $APT with a staking provider platform such as Binance or Kiln.
The advantages of being a nominator are supporting the network, promoting decentralization for the chain, and earning rewards.
Road Map
Aptos still hasn't published the official 2023 Road Map but according to the Aptos space, held on 10 January 2023, and an interview, on the Chain Reaction podcast on 27 January 2023, with Mo Shaik, Avery Ching, Co-Founder, and the team, we can conclude that the 2023 plan is:
The Road Map showcases Aptos' ambition to expand its ecosystem and pave the way for a new era in Web 3.0 development, emphasizing strategic partnerships and growth of the ecosystem. The founder Mo Shaikh revealed plans to collaborate with major players like Google, LifePeer, and PayPal to develop decentralized streaming services and other innovations.
The partnership with Google will integrate BigQuery into the Aptos ecosystem, offering developers and users greater accessibility and organization. These collaborations are expected to drive the adoption of Aptos by large enterprises and attract millions of new users to the platform.
They announced a significant upcoming community engagement, including the AptosWorldTour, various conferences and developer meet-ups. The first one is planned to be in Seoul, Korea.
Overall, the Road Map for the Aptos Blockchain project is focused on building a strong and vibrant ecosystem that will support its users and help to drive innovation in the blockchain space. By working closely with its community and its partners, the Aptos team is well-positioned to achieve its goals, and to continue to grow and evolve in the years to come.
Ecosystem
3 Biggest Projects
PancakeSwap Aptos Bridge - DEX: TVL 32,459,208.45 USD
AUX Exchange - DEX: TVL 11,823,607.26 USD
Tortuga - Liquid Staking: TVL 9,955,271.34 USD
The chain provides many tools, API and SDK for enhanced support for developers. You can read more about this topic following this link.
The team organized an offline hackathon that attracted developers from top tech companies and launched an ecosystem funding program to support developers in building projects. The Aptos-core repository on Github already has a large number of commits, forks, and stars, indicating a high level of developer activity. Over 200 projects are already looking to deploy on Aptos, and tutorials for interacting with the ecosystem are widely available. This suggests that Aptos is well on its way to gaining a large group of users.
The overall quality of dApps on Aptos is high due to the platform's technical innovations, which have resulted in improved performance and security. The developer-friendly Move language and the parallelized processing techniques make it an attractive option for dApp developers. Additionally, the DiemBFT provides a stable, secure environment for dApps. With a growing ecosystem of developers and projects, Aptos is poised to become a leading platform for dApps.
Community
Community:
The Aptos community is a growing and passionate group of individuals who are dedicated to building a better blockchain ecosystem. With a focus on people, the community is a global network of developers, node operators, educators, and other contributors who are working together to make the Aptos blockchain more accessible and user-friendly.
One of the ways the Aptos community is fostering growth and collaboration is through its Forum. Here, members can participate in open discussions, explore opportunities to work together and get more involved in projects building on the Aptos blockchain.
In addition to the discussion forum, the Aptos community also has a wealth of resources for developers and node operators. Aptos’ documentation provides detailed guides on how to develop applications for the Aptos blockchain, run nodes, and get involved in the ecosystem.
For those who prefer direct communication, the Aptos community also has a vibrant Discord channel. Here, members can chat with one another and participate in the growing ecosystem. One popular event in the Discord channel is "Move Mondays," where members can discuss the latest developments in the Move programming language and share their experiences with others.
Overall, the Aptos community is a dynamic and supportive group of individuals. Whether you are a developer, node operator, or simply a fan of the Aptos blockchain, there is a place for you in this community.
Marketing:
The Aptos blockchain is making a significant impact in the crypto world with its innovative approach to blockchain scaling. Launched in October 2022, the company has successfully raised 150 million USD in funding from prominent investors such as Andreessen Horowitz and Circle Ventures. The company's mission is to create a new way of sharing information and providing digital economic value in a more efficient, fairer manner.
The Aptos marketing plan for 2023 is focused on making the year a "year of intention." This plan involves evolving existing Web 3.0 products and partnerships with major traditional players such as Google. The company aims to reach billions of people with its blockchain technology, providing thousands of transactions per second and sub-second latency, all without any disruption or downtime.
The Aptos community plays a crucial role in the company's marketing efforts. The community comprises developers, node operators, educators, and other contributors who are passionate about building a safer, user-friendly, and widely accessible blockchain ecosystem.
Partners
Investors:
- Aptos raised 350 million USD during the first seven months of the development stage
- Initial investors: Andreessen Horowitz (a16z), and Multicoin brought in 200 million USD
- July 2020 funding round:
- 150 million USD from Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, and Temasek
- Jump Crypto and FTX Ventures
- Binance Labs invested an unspecified amount in March and September 2022
Partnership:
The Aptos blockchain can draw on a high level of expertise potential as their partners include Vhingari, the Indian Tiktok, Moonpay for Petra wallet, Pontem Network, Google Cloud, and NPixel.
Where to Buy
CEX (Centralized Exchange):
DEX (Decentralized Exchange):
Supported Wallets
Ledger: one of the most popular hardware wallets (HW), ideally connected with a software wallet (SW) for better protection of your crypto assets
Martian Wallet: self-custody SW, Chrome extension, your seed phrases are not stored on the server
Petra Wallet: built by Aptos labs, native SW
Analyst Opinion
The recent launch of Aptos, a layer 1-blockchain, presents a unique opportunity for investors to get involved with a promising new technology. Despite facing several challenges, Aptos has several advantages that make it a solid investment opportunity.
Firstly, Aptos offers a new approach to layer-1 blockchains, which already include established players like Ethereum. With its parallel execution engine, high-level security measures, and minimal transaction costs, Aptos provides a fast and scalable blockchain that can handle numerous transactions at once. This, combined with its proprietary consensus algorithm, Aptos Byzantine Fault Tolerance (AptosBFT), makes Aptos a secure blockchain.
Secondly, Aptos has a strong team behind it, led by co-founders Mo Shaikh and Avery Ching, who have experience in private equity and venture capital, and software engineering, respectively. The company has raised over 350 million USD in capital and is focused on building a layer-1 blockchain for everyone. This capital gives Aptos the resources to build its ecosystem and attract users and developers.
Thirdly, the Aptos ecosystem has several projects under development, including decentralized exchanges (DEX), lending and borrowing platforms, an NFT marketplace, and various other projects related to infrastructure, payments, and staking. As of February 2023, 82 % of the total supply of $APT, the native coin of the Aptos blockchain, is staked and offers holders the right to vote on various choices regarding the project, such as the rate of inflation resulting from staking.
Fourthly, the APT coin is listed on several popular exchanges, such as Binance, Huobi, and Coinbase, which makes it easily accessible to investors. Its relatively small market cap also presents a great opportunity for investors to get in early and potentially see a large return on investment.
However, Aptos does have a few challenges, the use of a new programming language, Move, could impact the maturity and security of the blockchain. If you compare it with Ethereum, which took several years to reach maturity in Solidity and train developers to create secure smart contracts, there is definitely a possibility that this will take time. Additionally, Aptos may face challenges in terms of gaining widespread adoption and attracting a large community of users and developers.
Kiattisak Wongvorachart
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