INTRODUCTION
Aptos is a Layer 1 blockchain that launched its mainnet and introduced the $APT token in October. It has generated interest among investors and developers because it is based on Meta’s Diem blockchain, which was abandoned by the social media giant. Aptos aims to create a fast and scalable network while making it accessible to everyday users.
TLDR (Summary)
- Aptos is a new Layer 1 blockchain based on Meta’s abandoned Diem blockchain.
- It aims to be the fastest and most scalable network, with a theoretical capacity of 160,000 transactions per second.
- The $APT token quickly gained popularity in the crypto market and has maintained its position in the top 50 cryptocurrencies.
WHAT MAKES APTOS DIFFERENT?
Aptos claims to be fast and scalable like other Layer 1 blockchains. However, its ability to handle 160,000 transactions per second sets it apart. It has been referred to as a “Solana killer” due to its potential to compete with Solana’s high-performance Layer 1. Aptos appears more reliable than Solana, which has experienced failures and outages. Moreover, Aptos outperforms Ethereum in terms of transaction speed, thanks to hardware and design differences. It also aims to support NFTs by improving on existing Layer 1 solutions.
$APT TOKEN
The Aptos Token ($APT) began trading on October 19, 2022. There will be a total of 1 billion $APT tokens, with distribution allocated to the community, key developers, early investors, and the blockchain’s foundation. Some investor and developer stakes will be locked for four years from the sale.
USE CASES OF $APT TOKEN
The $APT token can be used for network fees, validator staking, and participating in on-chain community governance.
APTOS TEAM AND INVESTMENTS
Aptos Labs, founded by ex-Meta employees Mo Shaikh and Avery Ching in 2021, is the team behind the Aptos project. They previously worked on Meta’s blockchain project Libra, later rebranded as Diem. Despite being relatively new, Aptos has received substantial support and a $350 million funding from venture capital firms such as a16z Crypto, Multicoin Capital, Hashed, Tiger Global, FTX Ventures, and Coinbase Ventures.
INVESTOR INTEREST AND PROBLEMS AT LAUNCH
Investor interest in Aptos grew after the launch of the testnets, as users reported high TPS and faster finality rates compared to other networks. However, there was controversy at launch when users claimed that the network’s claim of 160,000 TPS was unrealistic, reporting a speed of only seven TPS, lower than the Bitcoin network. The founders clarified that the low TPS was due to network idling before going live and stated that TPS should improve with increased network activity.
APTOS 2DMoon 
