Aptos is a new cryptocurrency that aims to challenge Solana as a leading platform for web3 applications. Aptos is based on a novel smart contract language called Move, which was originally developed by Meta (formerly Facebook) for its Diem project. Move is designed to be safe, expressive, and modular, allowing developers to create complex and secure applications on Aptos.
The platform claims to achieve high scalability and performance by using a proof-of-stake consensus mechanism and parallel execution. According to its website, Aptos can process over 150,000 transactions per second, which is much higher than Solana’s current capacity of around 50,000 transactions per second. Aptos also boasts a low transaction fee of less than $0.01, making it attractive for users and developers.
Aptos launched its mainnet in December 2022, after raising $350 million in two funding rounds led by prominent investors such as Andreessen Horowitz, FTX Ventures, and Multicoin Capital. The native token, APT, which has a total supply of 1 billion and a circulating supply of around 200 million. APT is used for paying transaction fees, staking, governance, and accessing various services on Aptos.
APT’s Numbers have Been Slowly Increasing
APT has seen a significant increase in price and volume since its launch, reaching an all-time high of $19.90 on January 30, 2023. However, it has also experienced some volatility and correction, dropping to around $7 as of June 12, 2023. APT is currently ranked as the 34th largest cryptocurrency by market capitalization, according to CoinMarketCap.
Aptos is an ambitious project that aims to compete with Solana and other leading blockchains in the web3 space. It offers a unique smart contract language and a scalable and reliable infrastructure for building decentralized applications. However, it also faces some challenges and risks, such as regulatory uncertainty, technical issues, and market competition. Aptos is still a relatively new project that needs to prove its value proposition and attract more users and developers to its ecosystem.
