Aptos (APT)
Aptos is a layer-1 proof-of-stake blockchain infrastructure that combines system securities, smart contract design, decentralization, consensus, and performance technologies. It utilizes a parallel execution engine called Block-STM and a Byzantine Fault-Tolerant (BFT) PoS consensus mechanism to enhance transaction processing speed.
History of Aptos
Origins and development
| Ticker | APT |
| Category | Smart Contract Platform |
| Website | https://aptosfoundation.org |
| @Aptos_Network | |
| Telegram | AptosTG |
| Contract Addresses | |
|---|---|
| aptos | 0x1:...in Copied! |
Aptos was founded in 2021 by Mo Shaikh (CEO) and Avery Ching (CTO), who were previously involved with Meta's blockchain project, Diem. Following the discontinuation of Diem, they established Aptos Labs. Before its mainnet launch in October 2022, Aptos conducted the Aptos Incentivized Testnet (AIT) campaign, which encouraged developers and node operators to test the network. The blockchain, based on the Move smart contract language from Diem, gained support from investors like Binance Labs, Jump Crypto, and a16z, raising $400 million. Aptos has been referred to as a "Solana killer" for its potential in smart contract development.
Aptos technology
Transaction processing and scalability
Aptos employs a flexible data model for key management and hybrid custodial options. Its transaction processing involves a pipeline and modular approach, allowing concurrent operations like block metadata ordering, transaction dissemination, parallel transaction execution, batch storage, and ledger certification. This parallel execution model contrasts with sequential processing in blockchains like Ethereum. Future initiatives include modular design and internal sharding for horizontal throughput scalability without added complexity for node operators.
Tokenomics
Distribution and supply
At its mainnet launch on October 12, 2022, Aptos introduced its governance token, APT, with an initial supply of 1 billion tokens. The distribution was allocated as follows: 51.02% to the community, 19.00% to core contributors, 16.50% to the foundation, and 13.48% to investors. These tokens are anticipated to be distributed over ten years, supporting ecosystem projects, community growth, and foundation initiatives. The total token supply is expected to surpass 1.5 billion tokens in this period.
Aptos blockchain explorers
Monitoring and analytics
Aptos blockchain activities can be explored using platforms like Aptoscan and Apscan. These tools allow tracking of transactions, validator activities, and account information, along with viewing metrics such as the total amount of APT staked, current supply, and gas prices.
Staking
Participating in consensus
Anyone can join the Aptos consensus process by staking sufficient utility coins. The validator's vote weight corresponds to the stake amount, and rewards are proportional to the stake. The minimum required stake is 1 million APT tokens. Stakers must adhere to minimum and maximum stake requirements, with voting power and rewards calculated based on these limits.
How to stake on Aptos
Staking on Aptos involves running or staking to a validator node. Validators earn rewards for their duties, which they share with their stakers.
Governance
Proposal and voting process
Aptos governance allows community members to create and vote on proposals to enhance blockchain functionality. Proposals may involve changes to blockchain parameters, core code, Aptos Framework modules, or deploying new modules. To participate, proposers or voters need to stake and meet the minimum proposer stake requirement.
Partnerships
Strategic collaborations
Aptos has established partnerships to enhance its ecosystem. On November 15, 2022, Aptos partnered with NPIXEL, a Korean gaming studio, to improve gamer experiences. On November 17, 2022, Aptos collaborated with Google Cloud to run a validator and support development operations. The partnership includes initiatives like launching an accelerator program and co-hosting events. Additionally, on October 25, 2022, Aptos teamed up with Pontem Network to develop open-source products for its ecosystem.