www.ibtimes.com Open in urlscan Pro
54.205.208.180  Public Scan

Form analysis
2 forms found in the DOM

/search/site

<form action="/search/site" id="search-block-form" accept-charset="UTF-8">
  <label class="btns flex-xs ai-c">
    <input type="submit" name="op" class="icon-search" value="">
    <input title="Enter the terms you wish to search for." onfocus="" placeholder="Search" type="text" id="edit-search-block-form--2" name="q" value="" size="15" maxlength="128" class="form-text">
    <input type="hidden" name="form_build_id" value="form-vcDYTVDsqu7FtdziAYsDobr9elb0rWphiGnnGEmowkI">
    <input type="hidden" name="form_id" value="search_block_form">
  </label>
</form>

Name: newsletter_subscribe — https://newsletter.ibt.com/

<form name="newsletter_subscribe" target="_blank" action="https://newsletter.ibt.com/" onsubmit="setTimeout(function(){ document.forms.newsletter_subscribe.reset(); }, 1000);">
  <input type="hidden" name="check" value="ibt-fast-start">
  <div class="title">IBT Fast Start - Let the best of International News come to you</div>
  <div class="description">Sign up and stay up to date with our daily newsletter.</div>
  <div class="form-input"><input type="email" name="email" value="" placeholder="Enter your email." required=""><input type="submit" name="submit" value="SIGN UP NOW"></div> You can unsubscribe at any time. By signing up you are agreeing to our
  <a href="https://corp.ibt.com/about-terms-services" target="_blank">Terms of Service</a> and <a href="https://corp.ibt.com/about-privacy-policy" target="_blank">Privacy Policy</a>.
</form>

Text Content

NEWSLETTER SIGNUP
 * Business
 * Technology
 * World
 * National
 * Politics
 * Media & Culture
 * Opinion
 * Sports
 * Social Capital
 * Crypto

SIGNUP
 * 
 * Business
 * Technology
 * World
 * National
 * Politics
 * Media & Culture
 * Opinion
 * Sports
 * Social Capital
 * Crypto

Listings & More
 * Social Capital
 * Glossary
 * SMB Forum
 * Spotlight
 * Top AI Startups & Scaleups 2021
 * Fintech Startups 2021
 * MBA Rankings 2021

Editions
 * Australia Edition
 * India Edition
 * International Edition
 * Singapore Edition
 * United Kingdom
 * United States

 * NEWSLETTER

Follow Us



Crypto


WHAT IS APTOS?

By Rahul Nambiampurath
11/30/22 AT 9:19 PM
Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on
Flipboard

This year has been a rough one for the crypto market, with the crypto winter
taking down many projects. Newer projects have also struggled, but a handful of
them have made headlines and attracted a lot of attention.

Among them is Aptos, a project developed by former Meta employees. It's been in
the news for both good and bad reasons but nonetheless remains on the radar of
many market enthusiasts. Aptos is taking on the task of scalability, among other
things, but what exactly does it do, and how exactly does it go about it?

WHAT IS APTOS?

Aptos (APT) is a Layer 1 blockchain built on the Move programming language. It
aims to solve the issues of scalability, reliability, security and usability.
Some of these features are unique and have consequently attracted attention from
the crypto community. It is essentially a rebirth of Meta's cryptocurrency
project.



The project was first launched on Oct. 12, with the mainnet launching five days
later. The project operates with the motto of "building a layer 1 for everyone,"
though the actual launch resulted in a fair bit of criticism.



The key characteristic of Aptos that is attracting attention is the fact that it
uses something called parallel state execution to improve scalability. We will
discuss this in the next section.



The Move language is critical to the design of Aptos. To its credit, the team
has provided a good deal of developer documentation, which explains how to get
started at length.

HOW DOES APTOS WORK?

Aptos is a Layer 1 blockchain built with a Rust-based programming language
called Move. Its key features include a parallel execution engine, high-level
security features and low transaction costs.

The parallel execution design allows for multiple chains to run in parallel,
which should, in theory, boost transaction speed. The team has even stated that
the throughout reached 130,000 per second on the testnet.

There have been some doubts about running parallel chains, as it opens up a
threat to security. Aptos' solution to this is by re-executing failed
transactions and verifying all chains simultaneously.



Another point to note about Aptos' design is the fact that it uses the Move
language, which was originally designed for Meta's failed Diem project. The
language allows developers to create custom resources that cannot be affected by
copies or discarding, which improves security. It also has secure global
storage.

GOVERNANCE ON APTOS

Aptos will allow community members to govern the network by creating and voting
on proposals. The network uses a proof-of-stake (PoS) consensus algorithm that
requires a minimum APT staking amount to participate.

Validators decide how the rewards are split between themselves and the stakers.
The latter can select how many validators they wish to stake their tokens to and
also choose an agreed-upon split prior to it.



THE APT TOKEN CONTROVERSY AND TOKENOMICS

One matter to note is that Aptos has stirred up some controversy for the initial
lack of information surrounding its tokenomics. There wasn't much in the way of
information about what the future plan was either.

Following the backlash, the team did release a blog post detailing the
information. The initial total supply is 1 billion tokens. The community
receives 51.02%, core contributors 19%, the Foundation 16.5% and investors
13.48%.

The team highlighted said that 125 million APT are available initially to
support ecosystem projects, grants and other community growth initiatives.
Furthermore, 5 million APT will initially be available to support the Aptos
Foundation initiatives.

THE TEAM BEHIND APTOS

Aptos Labs, the company behind Aptos, is a team of former Meta developers who
worked on the Diem project. The project was founded by Mo Shaikh and Avery
Ching, who both worked on Diem. Ching was a principal software engineer at Meta,
while Shaikh has experience in venture capital markets.



Aptos managed to raise over $350 million in funding from entities like FTX
Ventures, Andreessen Horowitz, Multicoin Capital and Circle Ventures, among
others. All in all, it has managed to attract some big names, which is why
retail investors' interests have been piqued.

CAN APTOS MAKE AN IMPACT?

IBT Fast Start - Let the best of International News come to you
Sign up and stay up to date with our daily newsletter.

You can unsubscribe at any time. By signing up you are agreeing to our Terms of
Service and Privacy Policy.

Aptos is competing against some major names in the market, including Ethereum.
It is certainly attracting developers, with Discord, filled with many thousands
of them. However, it has a tough job if it is to unseat the likes of Ethereum.

Aptos claims will have to be tried in the field and this will take time, as the
project's initial launch was botched. The claims of high throughput did not
appear, so investors will be cautious regarding any future claims.



That said, the use of parallel execution remains interesting and worth watching.
Scalability remains one of the biggest issues in the crypto industry, and there
are several projects working on the solution.

For the moment, Aptos remains a project that may or may not succeed at what it
does. After all, Ethereum has its own scalability solutions in the pipeline.
More importantly, it already has a vast array of DApps and development efforts
on its network.

WILL APTOS BE THE FUTURE OF LAYER 1 SOLUTIONS?

The crypto market continues to see new projects arrive, and many of them do, in
fact, have some novel solutions. Aptos is among them, though it has a lot to
prove with its ambitious claims. It has a much later start than other
cryptocurrency projects, so it will have to play catch up — especially in terms
of actual applications on the network.



As always, it's best to keep an eye on such projects and see how they develop.
Crypto projects need time to grow and establish themselves, and Aptos deserves
that right.


Global network across the Earth Gerd Altmann/Pixabay
Read more
What Really Happened To FTX?
Top 5 Decentralized Exchanges In 2022

© Copyright IBTimes 2023. All rights reserved.


FOLLOW MORE IBT NEWS ON THE BELOW CHANNELS



Join the Discussion

 * MOST READ IN Crypto

 * 1
   
   Shytoshi Kusama Purges Shiba Inu Community Ahead Of Shibarium Beta's Launch
 * 2
   
   SHIB Continues To Surge As Shib Army Shows Support To Kusama's Leadership
 * 3
   
   Prince Philip Of Serbia Predicts BTC Will 'Outcompete All Fiat Currencies'
 * 4
   
   Bitcoin Surge Just Getting Started, Could Reach $30K Next Month: Analyst
 * 5
   
   Mango Markets To Strike $47 Million Deal With Hacker

Get up to Speed with IBT’s Fast Start Stay up to date with our daily newsletter
Sign Up Now
IBT VIDEO
00:28



NEWS
 * Business
 * Technology
 * World
 * National
 * Politics
 * Media & Culture
 * Opinion
 * Sports
 * Social Capital
 * Crypto

Featured
 * Social Capital
 * Glossary
 * SMB Forum
 * Spotlight
 * Top AI Startups & Scaleups 2021
 * Fintech Startups 2021
 * MBA Rankings 2021

ABOUT
 * About Us
 * Advertise with us
 * Contact us
 * Terms & Conditions
 * Privacy Policy
 * Cookie Policy
 * Privacy Settings

EDITIONS
 * Australia
 * India
 * International
 * Singapore
 * United Kingdom
 * United States

FOLLOW US
 * Facebook
 * Twitter
 * LinkedIn
 * Telegram

© Copyright 2022 IBTimes LLC. All Rights Reserved.