What Is Aptos? Complete Information About APT Token

Table of Contents

What is Aptos?

Aptos is a new project and operates independently. Focus on building a secure and available blockchain. To meet the needs of a large number of users around the world. Aptos promises to become a layer-1 blockchain that surpasses both major competitors, Ethereum and Solana.

https://aptoslabs.com

How the Aptos blockchain works

Account A and B represent Alice and Bob’s accounts on Aptos Blockchain.

Sn-1 represents the ledger state of Aptos at time (n-1): then, Alice has 110 Aptos coins, Bob has 52 Aptos coins.
Tn: represents the (n)th transaction performed on Aptos. In this case, Tn represents the sending of 10 Aptos coins from Alice to Bob.
F: is a deterministic function that returns a final state. The combination of the results of the previous state and the transaction is performed. For example: S(n) is the sum of the results from the function F of S(n-1) and T(n).
S(n): represents the ledger state of Aptos at time (n). In this case, after Tn is performed. Alice has 100 Aptos coins left, Bob has 62 Aptos coins.

Illustration of the mechanism of action. Source: Aptos

Highlights of Aptos

Aptos has had a strong presence in the blockchain market with a team of quality personnel and massive funding from major investors. The project has launched devnet and testnet versions one after another. And finally the Mainnet version in October 2022.

The Move programming language plays an important role in this project. Designed for secure management of resources and verification on the blockchain. Move is considered a much stricter static-typing language. Compared to Ethereum’s smart contract language.

Move chooses static-typing like other modern languages such as: Rust, Golang, Typescript, Haskell, Scala, OCaml. To detect program errors effectively.

Compared to other languages, Move is capable of managing and verifying resources on the blockchain. To ensure the safety of the system. Transactions on Aptos will have two important states: identified and hidden, along with measurement capabilities to protect against cyber attacks.

Aptos uses a low-latency Byzantine Fault Tolerant (BFT) mechanism. Focus on improving network security against all challenges. They also increase security by allowing private key changes.

With all these advancements and improvements. Aptos suggests that it can achieve transaction speeds of up to 120,000 transactions per second (TPS). Under laboratory conditions.

Information about Aptos Token

Key Metrics APT

Token Name: Aptos Token
Ticker: APT
Blockchain: Aptos
Contract: No
Token Type: Native Token
Total Supply: 1,000,000,000 APT
Circulating Supply: Updating…

APT Token Use Case

APT token is the native token of Aptos. APT also has the same uses as other native tokens:

Make transaction fees.
Stake to ensure network security while earning more APTs
Used to buy and sell assets on the Aptos blockchain.

APT Token Allocation

Investor: 13.48%
Foundation: 16.5%
Core Contributors: 19%
Community: 51.02%

Allocation

APT Token Release Schedule

Release Shedule

Token storage wallet & exchange

Storage wallet

Aptos can be stored on native wallets of the Aptos system such as Pontem, Fewcha, Martian wallets or multi-chain wallets such as Coin98 Super App, Blocto Wallet, Onto Wallet…

Exchanges

Right after launching the mainnet, APT was announced by major CEXs such as Binance to support transactions. You can trade APT on those CEX exchanges.

Project team, investors & partners

Project team

The founding team are former members of Meta company (Facebook) – those who participated in developing Diem. It can be said that Aptos is the “eldest child” founded by the group. Heading Aptos Labs is Mo Shaikh – a former core member of Meta.

Other members of Aptos Labs also have a lot of professional experience. Have worked at large companies in the blockchain industry as well as traditional finance such as Meta, Blackrock, Robinhood, Huobi, JP Morgan…

In addition, Aptos also attracted a few members from Solana Labs. The most prominent among them is Austin Virts, former Head of Marketing of Solana.

Investors & Partners

Funding round & Investor

In February 2022, Aptos succeeded in raising $200 million. From a group of prominent investors in the cryptocurrency sector. Aptos’ funding round was led by Andreessen Horowitz. A highly reputable venture capital firm that has invested in many other crypto startups. In addition, this investment round also includes the participation of units such as Tiger Global, Three Arrows Capital, Multicoin Capital and Coinbase.

In other good news, at the end of March 2022. Binance Labs has announced it will become a strategic investor and Aptos will officially join the BNB Chain family. This cooperation between the two L1 blockchains is expected will drive innovation in technology and business. At the same time develop large-scale use cases in the Web2 sector.

On July 25, 2022, the project continued to announce a Series A capital call with an amount of 150 million USD from leading investors. For example, FTX Ventures, Jump Crypto, a16z, Multicoin Capital, increased Aptos’ total raised capital to 350 million USD and valued the company to 2 billion USD.

On September 15, 2022, Binance Labs continued to participate in a funding round with an undisclosed amount. In total, Aptos Labs has raised about 400 million USD through funding rounds and is valued at 4 billion USD.

On September 29, 2022, DragonFly Capital invested but did not disclose the capital amount.

Roadmaps & Updates

The project is accelerating at full speed to push the testnet as well as the mainnet to the public.

Q1 2022 (March 15) – Launch of Devnet for developers. Collaborate with strategic partners and the web3 developer community to gather feedback. Made improvements related to the Move experience for developers and the Move language.

Q2 2022 – Launch Incentivized Testnet, a larger, mainnet-like testing playground for strategic partners and web3 developers to build on. Work with the node operator community to engage and build expertise in decentralized network operations. Start a bug bounty to improve developer experience. Node operations and resolution of infrastructure issues. Providing incentive alignment for all participants helps secure the network.

Q3 2022 – Mainnet launch expected.

Q4 2022 – Q1 2023 – Deploy the next major release to the Aptos mainnet with the next set of important features.

Conclude

Through the above overview article about the Aptos project, AZC.News hopes readers will grasp basic information about this project to make their own investment decisions. Wishing you a successful investment!