What is Aptos (APT)?

Aptos is a Layer 1 blockchain built to enable the secure and scalable development of decentralised applications (dApps). It supports various use cases, including decentralised finance (DeFi), non-fungible tokens (NFTs), payments, and gaming.

Aptos utilises smart contracts written in the Move programming language to build dApps and manage complex, automated agreements on its network. The Move ecosystem includes a compiler, a virtual machine, and developer tools to support the creation of these applications.

The network's native token, APT, is considered an infrastructure token, focusing on improving the functionality, efficiency, and security of both the Aptos blockchain and its dApps. As a Layer 1 token, APT is used to cover transaction fees for applications on the Aptos blockchain and for on-chain governance.

Additionally, APT holders can stake their tokens with validator nodes to earn rewards or delegate them to a preferred validator for staking.

How Does Aptos (APT) Work?

Aptos is a blockchain platform designed to overcome the limitations of earlier technologies by providing enhanced scalability, security, and reliability. The project incorporates advanced technical features to optimise performance and improve the user experience.

Key components include:

Consensus Protocol

Aptos employs its unique Byzantine Fault Tolerance (AptosBFT) consensus mechanism, enabling high throughput and fast transaction validation.

Parallel Transaction Execution Engine

Unlike traditional blockchains that process transactions sequentially, Aptos executes transactions in parallel, boosting processing efficiency.

Move Programming Language

A flexible and secure language tailored for developing dApps on Aptos, with a focus on adaptability and safety.

Aptos Framework

Offers developers a suite of tools and libraries to build scalable, secure applications on the platform.

The History of Aptos (APT)

Aptos was founded by Mo Shaikh and Avery Ching, both of whom previously worked at Meta. After collaborating on Meta's Diem blockchain project, they launched Aptos Labs following the discontinuation of Diem in January 2022. Aptos secured its initial funding through a seed round led by venture capital firm Andreessen Horowitz, followed by a Series A round led by FTX Ventures and Jump Crypto. These investments, along with a strategic partnership, boosted Aptos’ valuation to $4 billion.

What Makes Aptos (APT) Unique?

Aptos is a smart contract platform that enhances scalability and reliability through its proprietary consensus protocol and parallel execution engine. The following key features make it unique:

AptosBFT

This Byzantine Fault Tolerant consensus mechanism ensures the network remains secure and functional even if up to one-third of validators behave maliciously.

Parallel Execution

Aptos processes transactions concurrently through its parallel execution engine, validating them afterward. This eliminates the need for upfront processing and, along with the Move virtual machine and other optimizations, significantly boosts throughput.

High Transaction Speeds

Aptos can handle thousands of transactions per second, making it suitable for real-time applications like gaming and high-frequency trading on decentralised exchanges (DEXs). The network's theoretical capacity reaches up to 100,000 TPS, with a goal of scaling to 1 million TPS.