Aptos: Ultimate Guide to APT
Aptos Network is a new protocol that aims to offer a scalable, low-cost Layer 1 that can establish itself as an infrastructure for building Dapps, or decentralized Apps. From the presentation, there would not seem to be much different than many projects launched in recent months and years. Where does the enthusiasm that has surrounded the project since its early stages come from?
This is the basic insight, which will analyze both on the surface and in depth Aptos, trying to understand together with the readers whether it is really one of the most interesting projects of the last months or years to come.
A project that actually already has a very interesting track record, even though it came to market relatively recently and at a market stage that was perhaps not the most ideal, coinciding perfectly with one of the biggest crashes in crypto history.
Highlights of Aptos [APT] Coin:
Buy: How to buy Aptos
Wallet: Petra, Martian
Aptos- Table main introductory features
What is Aptos $APT
Aptos is a complete layer 1 network that offers smart contracts, scalability, and low transaction costs. An initial presentation if you will, a bit anonymous, with Aptos, however, trying to mark the difference with the rest of the market with an innovative programming language and experience that comes directly from Diem, a now defunct project that had been run by Facebook/Meta and had already employed significant resources.
A network in Proof of Stake
Aptos uses a mechanism in Proof of Stake, which is also very common among other blockchains. The important innovations of Aptos even in terms of operation are certainly not here.
Aptos blockchain complete analysis
Aptos aims to be a complete blockchain
Let us introduce this kind of issue right away so as to clear the field of possible mining. Aptos aims for scalability (sacrificing as other similar projects do some decentralization). And it does so by moving from an effectively malleable mechanism, however much less it may guarantee in terms of decentralized operation.
As a former Diem
Diem/Libra will prompt some people’s memories. It was a monumental project that was to include not only a blockchain, but also a stablecoin system, which was later scrapped by authorities and regulators around the world before it saw the light of day.
Aptos tried (and succeeded) to pick up that legacy without much effort being lost. And here it is today with a project that is already functional, relatively well funded, and in which many have already placed high expectations. Well placed? We shall see in the course of this in-depth study.
Huge number of developers
The number of developers who have participated and still participate in the development of Aptos is very large. And according to what the project tells us, they were chosen from among experienced programmers and former employees of the Diem system. There is a lot of expectation on this project also by virtue of the fact that the developers are many and well trained. Will it be sufficient? Only time will give us that answer.
High number of TPS
That is, of theoretically sustainable transactions per second. Official documentation even mentions 150,000, but this will have to be verified when there are real volumes on the market, i.e., volumes that can sustain such levels of user-created exchanges.
The race for the highest number of TPS does not seem to be a great idea in a crypto world that is going through a rather complicated time, However, if this is going to be one of the test cases for the future of the crypto world and layer 1s, we can say that Aptos is well positioned for the “war.”
Correlation with Bitcoin
For the time being, it is quite high. Again, it is only time that will be able to tell if, how, and when this network will be able to break free. Again, this is a difficult situation to analyze and predict now, and one to which we will have to return with analysis as the project continues to grow.
The investments and expectations are so high that the doubt is that Aptos is a kind of prophecy that must come true. Difficult, we repeat, to understand for the moment what kind of space it will occupy for the long and for the very long term. The fact remains that it did not come into being, the $APT network, as just any network. The pushes for it to do well are many and varied. And everyone hopes that the project can respond on those very levels.
Not in the ecological sense of the word, but in the one more closely related to the technical innovations that will be introduced. Aptos reminds us on its official website that it has a team of top researchers, PhDs, and engineers in the industry evaluating one by one the updates that are introduced into the protocol. The infrastructure, through this kind of expert attention, thus aims not only to update when the time comes, but also to offer a balance between development and stability. It reminds us somewhat, as an approach, of Cardano’s. Will this be enough to gain the confidence of the market?
The engine that allows contracts to be executed in parallel is very interesting, and we will return later to how it works and what it can guarantee. For now we will just name it and point out this special feature to our readers.
The performance advantages are very important. Once again, however, we will have to compare what is on paper with what the chain will be able to offer once it is in “production,” that is, when exchange volumes on the chain and in terms of smart contract usage are high.
Aptos novelty factor
Aptos relies heavily on the novelty factor
How Aptos $APT works
Aptos picks up the legacy of what they were developing within Diem, Facebook’s now defunct project in terms of blockchain. There are several very interested features that we think are noteworthy and worthy of analysis.
Parallel execution of smart contracts
This is perhaps the most important and most interesting aspect of Aptos. While the bulk of other blockchains and ecosystems leverage consequential execution of smart contracts. Aptos, on the other hand, by making use of its Block-STM is able to parallelize such execution, thereby increasing the network’s capabilities for the same amount of resources.
System resistant to failed transactions
This is the second distinctly interesting aspect of Aptos. Transactions are processed in parallel and then validated later, which prevents a single failed transaction from going to slow down the entire execution of no given contract. Transactions that are failed are first discarded then executed again. All this relies on the STM libraries, which can independently detect conflicts and find a solution.
Which compared to implicit accounts have more advanced features, which also mark the difference with how accounts at other networks are managed. For example, the authentication key can be changed, which likens them more to the passwords we are used to using with Web2 services than to the blockchain world.
Support for multisig is native, and later, again according to the official documentation, we should see a major increase in how a given wallet can be accessed.
Accounts are also integrated with additional present and future network services, such as profiles and domains. Accounts are also divided into two types according to their content: there are classic accounts that are a public and private key pair and we have resource accounts that are instead used by developers as Storage or in order to publish modules on the Aptos blockchain.
Aptos - scalability
Aptos is all about speed and scalability
Resources and objects
Another of the important new features introduced by Aptos concerns the management of resources and objects. The former are level-removed objects that are contained directly in accounts on the Aptos chain. Objects, on the other hand, can also be individual units of status then contained in a resource. This mode of management allows for greater efficiency in processing transactions. And as for resources that need to be accessed by multiple accounts, indexing can be used to still have direct, simple and immediate access.
Gas and transaction management
Another interesting aspect is gas or transaction cost management. The basic unit of gas is the minimum fee you pay to access the computational or storage resources of the Aptos infrastructure. It is governance that sets the minimum amount of gas, while it is then obviously the market with supply and demand forces that sets the value.
Two types of nodes
A difference already seen elsewhere between full nodes, which have to store all the ledger, and instead light nodes, which can make do with having a reduced version.
Speed at the expense of decentralization
A script already seen in many circumstances and which unfortunately, contrary to what so many marketing offices claim, cannot be solved in any way for now. Aptos focuses on speed of execution and large output of transactions per second. A choice, in the trilemma, that is decidedly clear.
NFT on Aptos
Aptos also offers support for the creation and exchange of non-fungible tokens, or if we prefer NFTs. This is a compartment that has never really appeared as a top priority for the protocol, but one that is nevertheless more than welcome. It is hard to think that a protocol can actually do without it today.
The first marketplaces for NFTs that are created with this specific standard are also emerging. Volumes are still low, but again we should take into consideration the absolute youth of this protocol. In other words, the perhaps low volumes should in no way surprise us.
Domains on Aptos
Following on the heels of what we have already seen on Ethereum (and indeed on many other networks), Aptos also has a system of domains. They are called Aptos Names and for the time being cost $5APT, provided they are free.
Already active to register domains
They can be integrated within any decentralized App that uses the Aptos network as infrastructure and allow for significantly more readable addresses. For many this will also be an opportunity for speculation and investment, but for many others it will be an additional, perhaps interesting, service that we can use within the Aptos ecosystem. Good, however, that they are already available.
Insights related to the project
Aptos, despite being a relatively young project, already offers very detailed documentation for those who would like to learn more, either to invest or to approach the project even as a developer.
WhitePaper / Docs
What is called the WhitePaper is actually a document on the website that contains several sections and looks more like a guidebook than the detailed ones that projects offer in addition to the White Paper itself. Inside it is told in great detail about all the features of Aptos, how it works, as well as what is needed to develop Apps.
The documentation is very detailed and well done - other projects in our opinion should follow suit - and allows us to have both a cursory knowledge of the most important topics and to go into as much detail as we want.
For those who want to learn more about the SDK available in Python, detailed documentation on PyPi is also available here. There are details on package installation and usage.
What will be the future of Aptos
There are several aspects to consider in assessing what we believe will be the future of Aptos, both financially and technically.
EXPECTED COMPETITION: Is there a lack of Layer 1s that can provide as complete an experience as possible on blockchain? Absolutely not. Among more or less established projects we can count dozens of them, and Aptos fits right into this compartment. On the other hand, it must be said that, as we have seen just above, the expectations and the pro-Aptos pushes are actually many.
TECHNICALLY INTERESTING: The technical solution being offered is among the most interesting, and this could make, at least in certain contexts, a difference. Something on the technical side is there, and in a world of clones and unoriginal offerings this could perhaps change everything.
IMPORTANT INVESTORS: We have learned in the past and on other projects (see Solana) that they can actually be there as well as they can go away. They are feet of clay for those trying to become giants. But at the same time they are also a help that can really make a difference, at least for the early stages of a project.
PROOF OF STAKE: It would seem to be the typical choice for several new projects, and Ethereum has also chosen this consensus mechanism for its future. At least theoretically it should provide a firmer foundation for future development, however much compromise is obviously present.
TVL STILL LIMITED: The amount of value that is within the projects running on Aptos is still quite limited. This is in the face of a project that got off on the right foot but has had to contend with a crypto market that is on a steep downward slope. The fact that PancakeSwap has already arrived, however, is a very good sign of the interest that this protocol is getting. There will be a long way to go in this regard, however, in order to become more central even within the DeFi world A project that wants to become relevant in the space cannot be satisfied with a few million dollars of TVL.
Aptos TVL - quantity analysis
Aptos TVL is overall still reviewable
SOLIDITY OF INVESTORS: Some of the investors are part of the group of operators that are in crisis and have taken their books to court. From 3AC to FTX, there are several who participated in the financing rounds. However, this cannot be blamed on Aptos, which will still continue to operate despite the fact that two of the many participants in the financing round are actually in trouble.
RELIABILITY: The last of the chains to come to market with the same or nearly the same assumptions has suffered from repeated technical problems. Already if Aptos were to escape this terrible mechanism it would have taken a huge step forward even for the purposes of gaining a loyal user base.
These are the issues from which, at least in our opinion, the future of Aptos as a blockchain will pass.
Aptos is a layer 1 blockchain, which means it does not have to rely on third-party projects. It is self-sufficient and offers all the useful tools for decentralized App developers to create new systems for use within the Aptos ecosystem.
This is the engine that runs smart contracts within the Aptos ecosystem. A very interesting engine because unlike many competitors it is able to run such contracts in parallel, thus offering a higher number of transactions. The transactions are then validated after being tracked. The system also has a manager that distributes transactions according to a scale of relevance, thus making the system run more smoothly.
The consensus system used by Aptos is actually relatively complex. In fact, on the one hand we have validation, and on the other hand we have a system that sorts transactions as they need to be. A rather flexible system that is at the heart of what we have also seen in terms of performance for Aptos as a blockchain.
The Move programming language is perhaps one of the most important of the new features that have been introduced by Aptos. It is a very flexible language with good Storage management and which was also born to offer more secure Apps. We will see if these premises will stand the test of time.
As for the Governance of Aptos and the possibility of introducing innovations, this is in the hands, in short, of the token-owning community. In fact, it starts with the proposal in the community forums (which we will also find indicated in this in-depth discussion). Then the proposal, if successful, will be organized into a vote and submitted to the token holders. Before moving to voting, to be clear, you can have an offchain discussion as well.
Then there are voting operations: when the voting period runs out, the proposal is implemented. Should the “YES” votes exceed at least half of the tokens in circulation, the proposal can be approved in advance.
Move language APtos
The language used by Aptos is one of its most important features
Speed and security
The main focus of Aptos actually goes in two directions. On the one hand we have performance, which is definitely extreme and among the best in the blockchain world, and on the other a focus, also through the Move programming language, on security.
We will see firstly when there is a need to scale in a major way, secondly when the contracts that are run on the Aptos network will be more if this combination is actually carried through or not.
The Move Language
This is perhaps one of the most interesting features of this environment. Move is the language that was developed by Diem-which we recall was an internal Facebook/Meta project-that now animates not only Aptos, but also Sui.
The language is open source, which means that everyone can check its functionality and code. This is a development model that even in the commercial sphere is to be considered superior.
The documentation is also free, this time in the sense of free, and we can find it on GitHub or even on Sui’s website. Theoretically we could start writing smart contracts without the need for courses or external books.
Based on Rust
The language has drawn heavily from Rust’s experience, which will be immediately visible to those with some experience with this programming language.
In five parts
With Move we have a virtual machine, the Bytecode verifier, the compiler, the standard library, and also the testing framework.
Move is designed for a native blockchain environment and efficient management of resources, both computational and storage.
Another key factor is the focus on security, which is then one of the reasons for the then-Libra’s implementation of such an ecosystem. We shall see, on this specific aspect, whether Move delivers on its promises.
There are several wallets that we can use with Aptos that allow us to manage the $APT currency ourselves. We will list the most widely used ones here.
This is a native wallet on Aptos that is already available as a browser extension. It allows noncustodial management of our assets on Aptos and manages the keys for us, but they remain in our exclusive possession. It allows us to transfer both Aptos standard coins and NFTs and also allows us to simulate transactions before approving them. It is already integrated at the main Apps in the Aptos space.
Another native wallet in the Aptos environment, which also supports the SUI network, however. In addition to NFT and token and coin management, it also allows Web3 notifications directly within the wallet. This is also available via browser.
The choice of wallets is still limited
At least for the time being, there is no support from major hardware wallets. Specifically, we will not be able to use either Ledger Nano X or Ledger Nano S to manage our $APT tokens or others compatible with this network. Also for the time being, support is not available for Trezor, the alternative to the dominant Ledger. Is this a limitation? Yes. Will it likely be overcome soon? Probably yes, given the relevance of the project on a global scale.
Aptos is a system with a Proof of Stake consensus mechanism, which means that no proof of work is required for block validation and production, such as in the case of Bitcoin.
This means that we will not be able to make our hardware available to the network to try to earn tokens. We will have to move the other way - and nominally provide tokens to nodes - to get some of the newly produced $APT. Little harm, there are plenty of other projects that know what to do with our hardware and computing power. Aptos is simply not one of them.
Since this is a protocol that makes use of Proof of Stake, it is clearly possible to do staking with Aptos. There are, however, at least for the time being, relatively important limitations.
First, access to this type of operation is allowed for now only to those running a validator node. That, however, is expected to change soon by allowing “simple” users also to delegate their tokens. For the moment the minimums required are extremely important and certainly not within the reach of the bulk of enthusiasts. Hopefully this will change quickly.
Second, the rate should continue to fall, to settle at a fixed just over 3 percent. We will then have to see whether this project or timeline will be adhered to, or whether other types of management of coin creation within the network will be undertaken, including through a vote of the governance community.
This is however, at least for the moment, the only mining we can access for this protocol, which then technically, for that matter, mining it is not.
Is Aptos really the Solana Killer?
The killer one is now more of a meme than a serious discussion about the potential of a blockchain. Solana was supposed to be Ethereum’s killer and now Aptos is supposed to be Solana’s. A rather colorful way of indicating who might go on to nibble away at market share.
Is that the way things are? In our opinion it is for the moment very difficult to say, however hard Solana’s situation has been hit by the official failure of FTX, even to a greater extent than what happened to Aptos (which as we shall see was also funded by SBF’s group).
Do they do the same thing? They try to. Do they take the same approach? Not at all. Are they very different under the hood? Absolutely. We will see which of the two solutions will come out on top.
Aptos is the fruit of efforts that were once Diem/Libra’s
Aptos: financial activities and funds
Aptos has been the subject of great hype not only among cryptocurrency enthusiasts, but also among VCs, the venture capitalists in the industry who invested significant sums within the project, particularly during its early stages. That of VCs remains the most significant love-hate relationship in the crypto world, with many believing that they are a primarily detrimental force in the crypto ecosystem. On the other hand, however, it is clear that without deniers, masses cannot be sung, let alone then set up complex projects such as Aptos. The project’s backers are first-rate and are the same ones who have participated in several successful projects.
Indeed, in the list of financial backers we find Circle Ventures, Multicoin Capital, Andresseen Horowitz with his a16z, and even more recently Binance and Coinbase, with their respective funds dedicated to this type of investment.
It has been and probably will continue to be a source of heated controversy that FTX has been present in funding rounds on several occasions, as have several of the companies in that orbit. These are, in our view, rather sickening controversies. As much as FTX is now reasonably associated with absolute evil, it remains necessary to contextualize within the crypto world its reach, and also within a project like Aptos. The money has already been poured in and the group has absorbed the crypto carnage triggered by the exchange and the hedge fund that was headed by SBF, and of concern for the future there should be little in that respect.
On the fact that they could have rejected, in an ideal world, FTX funding, we challenge anyone to do the same in mid-2022, when no one suspected much about SBF and its clique of cronies. Controversies that, in our view, leave time for themselves and should be abandoned in favor of possibly more serious discussions about the actual importance of Aptos.
Importance which, for goodness sake, will still have to be demonstrated. But fixating on FTX’s presence among the old funders is not a topic that deserves further discussion.
Aptos Thematic Forums & Socials
There are several Forums and Socials that we can follow to stay up-to-date on what is happening in Aptos’ parts, what the latest news is, and also to get in touch with enthusiasts or developers.
Official Community Forum
The official Community Forum is located directly usl the official website and allows us to participate in discussions and also to get in touch with those who can help us learn more or maybe even launch our project.
An official Aptos Discord server is also available. The points made just above apply. These are great virtual/digital places to get in touch with people who are related to this project and who may know more about $APT Aptos than we do.
Still not much of a site. Crowded with spam posts and not exactly top-notch discussions. However, something is moving here too and we are sure that it will soon become a subreddit in line with what is already there for other projects. One has to wait, the project is still relatively new.
Remains a quick source of information, open to comments and sharing. In our opinion a must have for those who follow crypto, whether it is Aptos or other projects. The Twitter account is already quite active and will likely become more so over time.
It remains a very residual social for the crypto world. There are discussions here and there on Aptos, but they still remain quantitatively and qualitatively scarce, at least in our opinion. By choosing to attend what we have listed above, we could gain much more in terms of knowledge about Aptos.
A NOTE ON THE OFFICIAL FORUM: It is from the official forum that proposals generally start. Those who want to play an active role within the future of Aptos should commit to attending that kind of channel.
Main Pros and Cons of Aptos
Although briefly, we will try here to summarize what we believe to be the strengths and weaknesses of this technology, i.e., how favorable or hindering it will be to Aptos’ rise to the Olympus of large layer 1 chains.
Pros of Aptos
DEVELOPERS: there are many of them and they also seem to be very knowledgeable. This has sometimes created unwarranted hype, but at the same time should be seen as an excellent starting point.
A LOT OF ROAD: still to be done. The project was launched with very bad timing, namely in the middle of a crypto-winter that would have killed a proverbial horse. Instead it is still there, and the thing in our view signals that it can go a long way, provided it returns to more appreciable crypto market trends in general.
MOVE: The language is very interesting, however novelty does not always appeal to the general public. Dapps developers must like it, however, and they will have the final say on this specific aspect.
APP: there are already several interesting ones. We will see if they can become some sort of benchmark of their respective fields.
TVL: It is a downside, and we will see why later. But on the other hand to already have such important marketcap values while so little is moving on the chain…
INNOVATION: there is a lot of innovation in Aptos, some of which has already been picked up elsewhere. We don’t know yet whether it will be an end in itself or whether there will be some actually interesting developments. There is a lot of daring going on, however, combining this level of innovation with the slavish monitoring that is done from time to time by the many experts involved in the project.
Cons of Aptos
HYPE: In the midst of a crypto-winter with the trappings, the hype may seem misplaced. And at the same time, it may offer greater shores for gargantuan projects like Aptos. We’ll see in other market conditions if it holds.
TVL: it is still very low, a sign that not many people are yet using Aptos with the services that are offered by the Apps that use its infrastructure.
WALLET: support from the major ones is still lacking. And that means we’ll have to make do with browser solutions that will turn the proverbial nose up at crypto professionals.
EVM: There is a lack of compatibility. Is this a no-brainer? Who will live will see. For now it makes it harder for some developers and services to switch.
PRO APTOS AGAINST APTOS.
Big hype TVL low
Wallet development rare
New EVM not compatible
Room for growth
The pros and cons of Aptos
What Cryptocurrency.com thinks about Aptos $APT
There are different kinds of considerations that can be made about Aptos. After analyzing each aspect of how the protocol works we will offer our final thoughts here.
Aptos is a project that started out on a high note, but unfortunately did so while the crypto industry is facing one of its deepest crises. This has certainly impacted the protocol’s ability to immediately reach the levels of use and interest that would be expected.
However, there is a very strong base, technical and commercial, that could act as a trigger for growth of the protocol even in the face of an unexciting moment for the industry as a whole. Our final advice is to continue to keep this project under the radar and always evaluate on your own what the possible strategic allocations might be, possibly within a context that is as diversified as possible and that also includes in the portfolio situations possibly less related to Bitcoin.
Aptos is a very promising ecosystem, but one that has come at the worst possible time. Nevertheless, the basis for becoming a relevant part of the crypto ecosystem in our opinion is there.
All this is not to say, however, that we should jump headlong into this specific token and project without a second thought. Even when the foundation is definitely solid as in the case of Aptos, we should definitely not refrain from studying what is at stake, why and what amount of money should be allocated. Aptos has many interesting assumptions, as we have seen clearly in our in-depth study. From here to saying that we should invest without any kind of thought, there is a long way to go, as always after all.
FAQ - Aptos $APT: common questions and answers
What is Aptos $APT?
Aptos is a blockchain ecosystem equipped with its own $APT coin. It is a layer 1 infrastructure that allows smart contracts to run in parallel as well. Speed and security are its two main points of action.
What is Aptos $APT used for?
Aptos is a complete system that allows us to create smart contracts and Decentralized Apps as well as transfer value on blockchain. The network is a completely independent layer 1, which has no connection with other projects.
Is it worth investing in Aptos today?
It depends on our expectations, our risk appetite and the composition of our portfolio. There are good cues on Aptos for those who look at the long term and are able to wait for happier average times for the crypto market.
Does Aptos $APT have a future?
The Aptos project is relatively new and still has a long way to go. Nevertheless, given the relevance of the investment and technology made available to users and developers, there is a very good chance that Aptos will become one of the most relevant projects in the future.
What is the price of Aptos $APT?
The price is determined by the market and therefore we can only rely on the prices that are offered by the best crypto exchanges. There is no fixed price.
Is investing in Aptos risky?
Investments on crypto are always high risk and should be considered as suitable only for a part of the capital and in any case only for those with a high risk appetite. Aptos is on average no riskier than other crypto projects.
What are Aptos’s main rivals?
According to the dominant narrative definitely and Solana. The project however is a layer 1 offering roughly similar services as Avalanche, Algorand, Ethereum, Fantom and many others. This will be the direct competition for the project.