Facebook (META) announced its own crypto and blockchain project Libra (renamed Diem) and started to work actively on this issue. Unfortunately, these attempts, which ended in failure after long periods of time, were buried in the dark. But a new Blockchain network appears to have been reborn from Diem's ashes. APTOS; It opened the blockchain to APTOS users, using the core elements of the Rust-based Diem network, independently developed by Meta, and the Move programming language at its core. So what is the highly anticipated new Layer-1 blockchain APTOS (APT) that everyone is talking about…? What can… ? What will be the future…?
Aptos Labs;
Committed to developing products and applications on the Aptos blockchain that redefine the web3 user experience.”
Let's take a closer look at APTOS, which set out for this purpose...
If you're ready, let's start …
What is Aptos (APT) … ?
**APTOS (APT); **It is a scalable Layer-1 blockchain network project. Aptos was founded by Avery Ching and Mo Shaik, who previously worked on Meta's Diem blockchain project. Ching and Shaik have adapted the “parallel execution” technique to Aptos, which was originally created in the days of Diem and aims to speed up transactions on the network while keeping costs low. The Aptos mainnet was launched on October 18, 2022.
The purpose of APTOS; It aims to bring decentralized and Web3 ideas to wider audiences. While doing this, the principles that Aptos observes are scalability, security, reliability and upgradeability. APTOS, a Proof-of-Stake (PoS) blockchain, stands out as a very advantageous platform for decentralized application developers.
APTOS is notable for using Move, a Rust-based programming language independently developed by Meta, and key elements of the Diem blockchain. What makes Aptos stand out most is that it promises high processing speed for both developers and end users.
How APTOS Works… ?
APTOS network uses parallel execution engine (Block-STM). Thanks to this technology, Aptos can process more than 130 thousand transactions per second. Thanks to the parallel execution engine, the transaction speed in the Aptos network increases while the costs remain low.
Thanks to the network's security measures as well as advanced scalability technology, Aptos' network transaction fees are planned to be as small as $0.000001. If the Aptos network works as promised, it seems that it will surpass many blockchains such as Cardano with a transaction fee of $ 0.4, BNB Chain with a transaction fee of $ 0.5, and Fantom with a transaction fee of $ 0.6.
APTOS network works with the Proof of Stake mechanism. The Aptos data processing system brings flexible key management and hybrid storage options. Thanks to these features, the Aptos network aims to provide a more secure user experience as well as pre-signature transaction transparency and practical light client protocols.
APTOS blockchain architecture uses a sequential and modular approach at the most fundamental stages of the transaction process to ensure high throughput and low latency. Features such as transaction spanning, block meta-data sorting, parallel transaction execution, mass storage all work simultaneously. Currently, the Aptos network can handle 160,000 transfers per second (TPS) while maintaining its security. To further increase efficiency, thanks to a collaborative scheduler, Aptos prioritizes certain transactions in its network and the basic validation flow works efficiently.
APTOS (APT) Token
APT token is the native cryptocurrency of the Aptos blockchain network. On October 18, 2022, when the Aptos mainnet went into operation, 1 billion APT tokens were issued in the first place. The APT token, which has already been shown among the promising Web3 tokens, can be staked to become a validator on the network or used for transaction fees on the network.
Aptos Token Economy
The total supply of Aptos provided on the mainnet is 1,000,000,000.
Community: 510,00,000
Major Contributing Developers: 190,000,000
Aptos Foundation: 165,000,000
Investors: 135,000,000
According to the information shared by the team, the first-term stake reward rate for Aptos will be a maximum of 7%. The stake reward rate is set to decrease by 1.25% per year. Staking rate can decrease to a minimum of 3.25%.
You can easily install your own wallet as a Chrome extension with Petra Aptos Wallet on APTOS' own web page.
Why is the Aptos project different…?
Most blockchains either execute smart contracts sequentially or require a huge parallel workload that demands a lot of power for better performance. APTOS, on the other hand, is different from other blockchains because a single failed transaction does not stop the entire chain. Instead, all transactions are processed simultaneously and then verified. Failed processes are aborted and re-executed thanks to STM (software process memory) libraries that detect and manage conflicts.
Aptos Ecosystem
My Last Words; It proved to be an important project by making its debut on major exchanges such as Binance, FTX, Huobi, KuCoin, Gate.io. As APTOS promises; With this structure, it is distinguished from other blockchains and if it manages to increase the output capacity of the entire blockchain and not incur additional costs to users or developers, its future looks very bright. We'll watch and see...
Listen to everyone, decide for yourself ... I wish you good luck ...
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