Aptos is a Layer-1 blockchain utilizing Proof of Stake (PoS) consensus providing a safe, scalable, and upgradable Web3 infrastructure. The Aptos blockchain uses the Move programming language for smart contracts and the Move Virtual Machine (MoveVM) for developing decentralized applications (dApps).
More than 350 developers globally have contributed to developing the Aptos Layer-1 blockchain network. It offers an innovative approach towards consensus, the design of smart contracts, security, performance, and decentralization.
Aptos Labs, the firm behind the blockchain development, has undertaken a pipelined and modular approach for processing transactions on the network. This gives the Aptos blockchain higher throughput and lower latency than most of its competition.
APT is the native token of the Aptos ecosystem. It is used for paying transaction fees when using the network, staking by validators, and enabling decentralized governance within the platform.
Aptos natively integrates and internally uses Move for programming and executing smart contracts. The programming language also includes the Move prover, a formal verifier that offers higher levels of safety and security from malicious attacks.
The blockchain also supports flexible key management and hybrid custodial options, making the blockchain extremely versatile and giving it many use cases. This data model, along with transparency before signing transactions and light client protocols, also instills higher levels of trust within the user experience on offer.
Aptos can process transactions’ dissemination, order block metadata, execute parallel transactions, batch storage, and ledger certification concurrently. This makes it possible to completely utilize the blockchain’s resources, making it highly efficient to operate and potentially support parallel execution, enabling higher throughput.
The Aptos blockchain can also support atomicity with arbitrarily complex transactions, making the network just as efficient and capable of supporting real-world commercial applications on its infrastructure. Its modular architecture design offers high levels of flexibility for its clients and makes it possible for easy upgrading to ensure that new technology can be deployed rapidly.
Aptos was co-founded by Mohammad Shaikh and Avery Ching, whose former experience spans Facebook, Novi Financial, and The Apache Software Foundation. The extended founding team supports the duo, which includes PhDs, researchers, engineers, designers, and strategists.
The blockchain project was announced in February 2022 to create universal and fair access to decentralized assets and services worldwide. The developers introduced the Move programming language and the blockchain’s BFT consensus protocol in March 2022.
The Aptos Incentivised Testnet phase 1 (IT1) was rolled out in May 2022. The second phase, Aptos IT2, started in June 2022 and focused on developing staking functionality and sharing the updated gas schedule.
IT3, the third phase of the testnet, focused on on-chain voting and governance. This project phase also looked at supporting new validators who could join the blockchain and contribute to securing it.
Meanwhile, Aptos Labs announced a partnership with Google Cloud to power the decentralization of the network efforts. As one of the blockchain’s inaugural cloud partners, Google Cloud provides a sustainable, scalable, and secure infrastructure for dApp developers to build and scale their projects on the Aptos network.
The Aptos Mainnet launch was announced in October 2022, over four years since work on the project first started. The blockchain’s mainnet leverages the fourth version of the AptosBFT consensus algorithm.
Aptos is a new entrant in the crypto market but has some interesting fundamentals that make it a digital asset to invest in. The project aims to revolutionize the industry by bringing higher scalability, security, and sustainability to Layer-1 blockchains.
Following the mainnet launch, the Aptos price and market cap could witness an uptrend as more developers use its platform to build and deploy their dApps. This could increase on-chain activity by attracting more users to the blockchain and supporting the APT price statistics.
The price of Aptos could also enjoy support from an increased mainstream interest in the Web3 sphere. The rise of Web3 among mainstream businesses and brands could spur more development and the need for scalable platforms that can support commercial and large-scale decentralized applications. Such a sentiment could also drive an uptick in the Aptos price and market cap.
Although it is impossible to offer a reliable APT price prediction, here are some key factors that could influence price change in the Aptos token:
As discussed above, higher traction of Web3-based technologies and solutions in the mainstream market could increase the demand for blockchains like Aptos. The scalable infrastructure of the Aptos network is best suited for deploying real-world dApps.
As the Aptos ecosystem grows in the future, it could attract more end users and developers to the blockchain. The higher on-chain activity could drive up the value of Aptos crypto and vice versa.
Market sentiment is one of the most important factors influencing the price action in cryptocurrencies. A positive or bullish sentiment boosts investor confidence and encourages buying activity. In such an event, the APT price could make gains. On the other hand, a bearish mood could cause sell-offs that could weigh on the live price of Aptos.
News of the Aptos Labs and blockchain project receiving new investment from renowned names in the crypto industry can significantly impact investors’ attitudes towards APT token. More investment encourages buying activity and contributes to an uptrend in the Aptos price.
APT is the native cryptocurrency of the Aptos blockchain and has the following functions:
$APT is used to pay transaction fees or gas fees when using the Aptos blockchain to transfer digital payments, interact with dApps, or execute smart contracts. Aptos charges meager transaction fees, making it a cost-effective platform for deploying scalable dApps.
As a PoS blockchain, APT token holders can stake their tokens on the Aptos network to become validators and contribute to verifying transactions and producing new blocks within the network. In return for their efforts, they can receive rewards in APT, making this a lucrative way to grow their crypto portfolio while supporting the Aptos blockchain’s security and resilience.
As an APT token holder, you are also eligible to participate in the decentralized governance of the blockchain network. You can submit and vote on others’ proposals and have a say in the future evolution of the Aptos platform.
Trade Aptos against other digital assets to profit from changing market conditions. You can buy or sell APT against other cryptocurrencies or hold it if you believe in the long-term potential of the Aptos project.
As of October 2022, Aptos Labs has received support from several prominent businesses in the crypto industry, including a16z crypto and Multicoin.
In July 2022, the company announced a $150 million fundraising round. This round saw participation from FTX Ventures, Jump Crypto, Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, and Superscrypt founded by Temasek.
Thanks to its efficient design, Aptos can issue several NFTs simultaneously and across multiple platforms. Here are the key features that make it possible for developers to mint millions of NFTs in less than one hour:
The parallel execution engine employed by the blockchain makes minting NFTs faster on Aptos. The feature allows it to create and fund new accounts and mint new NFTs at high speeds.
NFT creators can use Aptos for high-speed NFT minting and also port them to other blockchain ecosystems in the future. This could allow for time-sensitive and commercial applications of NFTs to be deployed conveniently on the Aptos network.
For the technical user, check out this guide to learn how to create and transfer NFTs on the Aptos blockchain.