“Solana Killer” Aptos has just launched its mainnet and will be listed on Binance in the upcoming hours. Which is unique about this project and its salient features? Let’s find the answer in this article.
What is Aptos?
Aptos is a new Layer 1 blockchain aiming to build the safest and most scalable Layer 1 blockchain. It is established by former Meta employees (formerly Facebook) who are the original creators, researchers, designers, and builders of the Diem platform.
The team’s mission is to give billions of people equitable access to decentralized resources. The web3 stack is extensive and rich from smart contract platforms to developer infrastructure and tooling, wallets, and decentralized applications.
The team anticipates developing and collaborating with ecosystem participants throughout the upcoming years to enhance the entire space. Working with a decentralized community to develop a secure, scalable, and upgradeable smart contract platform is the first step in the Aptos journey.
Why Has Aptos Drawn People’s Attention?
Aptos closed its first funding round in March 2022 and successfully raised $200 million. This investment round was led by a16z Crypto, with the participation of well-known VCs such as Multicoin Capital, Hashed, Tiger Global, FTX Ventures, Coinbase Ventures, and many more capitals.
On July 25, 2022, Aptos announced a $150 million funding round conducted by FTX Ventures and Jump Crypto, with participation from Apollo, Griffin Gaming Partners, Franklin Templeton, Circle Ventures, Superscrypt, along with the support from a16z and Multicoin.
Move language: A safe and flexible blockchain language
Compared to several languages, Move is designed for safe resource management and verifiable execution on a blockchain. Transaction execution is deterministic, hermetic, and metered.
- Deterministic and hermetic: the output of transaction execution is completely predictable and based only on the information contained within the transaction and current ledger state.
- Metering: The transaction executions will be defended against denial-of-service attacks.
People-First User Experience
The project’s core design principle is to prioritize developer and user experience. Only by focusing on a straightforward and relatable experience, web3 can connect with billions of online users.
With decades of experience running millions of computers, our team has proudly confirmed to produce world-class, safe, and scalable products and infrastructure. They will continue to integrate new innovations and intuitive parallel programming models to adjust the user experience to billions of web3-to-be users.
Aptos Mainnet Launch
In testing, Aptos claimed that it has handled 130,000 transactions per second, which is an upgrade compared to other Layer 1 networks. With the mentioned execution, Aptos is one of the most awaited projects for its mainnet launch.
Aptos officially released its mainnet on October 17, 2022, after four years of hard work. The project called its launch a milestone in a "movement aimed to bring the masses to Web3."
However, according to on-chain data from its first day of transactions, it is not living up to its expectations. In the latest update, the Aptos developers did not disclose much information about the mainnet operational status, as well as the network's RPC. Also, the Aptos ecosystem has not gone live, with a lot of wallet projects, exchanges, DeFi, and NFTs yet to launch.
Nearly one day after the mainnet release, the Aptos team unveiled its Tokenomics and announced listing its token $APT on Binance. Yet, its Tokenomics content is still a question mark for users due to its non-transparency and users even do not know which price they have to pay to own $APT at its listing time.