What Is Aptos (APT)?
Aptos promises significant developments in the blockchain space, as it addresses some of the key challenges that have limited the adoption of other blockchains. Aptos blockchain is designed to be more scalable than other blockchains, with faster and greater transaction speeds, while still maintaining a high level of security.
In this article, we will provide a detailed overview of Aptos, including its features, benefits, and challenges. Find out how Aptos aims to stand out as a unique player among the multitude of blockchains that have emerged. Whether you are a seasoned crypto investor or a curious newcomer, understanding the intricacies of the Aptos blockchain and its ecosystem can help you make informed decisions.
What Is Aptos
Aptos is a layer 1 blockchain that uses Move, a Rust-based programming language developed by Meta for the Diem blockchain initiative. The project, co-founded by former Diem developers, Mo Shaikh and Avery Ching, aims to address the scalability issues that plague blockchain networks through “innovations in consensus, smart contract design, system security, performance, and decentralization.”
The blockchain uses Byzantine Fault Tolerance (BFT) and Proof of Stake consensus mechanism to validate transactions.
How Does Aptos Work
According to its whitepaper, the Aptos blockchain is “designed with scalability, safety, reliability, and upgradeability as key principles.” The Aptos blockchain achieves this through a combination of the following technologies:
- Move Language
The Move programming language was first designed for use for the Diem blockchain, an initiative by Meta. To gain a better understanding of how the Move language works, we need to take a look at how transactions are typically conducted on blockchain networks such as Bitcoin and Ethereum.
Transactions on these networks are conducted sequentially which means that they must be individually verified and conducted in a specific order.
Using the Move programming language, the Aptos blockchain uses a parallel approach to process transactions which means that the network can process many transactions simultaneously.
This allows Aptos to achieve greater network throughput and transaction speeds.
- Modular Architecture Design
Aptos’s modular architecture design provides on-chain change management protocols that users can use to quickly deploy new innovations. This allows for frequent and instant upgrades to the blockchain.
What Is APT
APT is the native token of the Aptos blockchain and has a total supply of 1 billion tokens, of which 217,782,670 is in circulation at the time of writing.
The distribution of APT tokens is as follows:
- Community – 51.02%
- Core contributors – 19%
- Foundation – 16.5%
- Investors – 13.48%
80% of the community allocation is held by the Aptos Foundation and the remaining 20% by Aptos Labs. The APT tokens under this allocation will be used to support community growth.
Investors and core contributors are bound by the four-year vesting schedule starting from October 2022, the date of the mainnet launch.
What Does Aptos Token (APT) Do
Aptos (APT) is a utility and governance token of the Aptos blockchain.
The blockchain uses the Proof of Stake consensus mechanism which requires validators to hold a minimum number of staked APT to participate in validating transactions. Additionally, APT is also used to pay for transaction and network fees on the Aptos blockchain.
As a governance token, APT token holders can also vote for upgrades and proposals to the blockchain such as implementing new standards for creating fungible assets.
How To Trade APT On The Flipster App
To trade APT on Flipster:
- Download the Flipster app and complete the account set-up process
- Go to [Trade]
- Click on [Search] at the top of the page and type in APT
- Click on APT
- In the [Amount] field, type in the amount of APT you wish to buy or sell. Alternatively, you can select the percentages below to choose how much of your available cash you want to use for your order.
- Click [Preview order] to preview your order
- Once you have confirmed the details, click on [Buy APT – Long] button or [Sell APT – Short] if you are opening a short position.
Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service.
Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.