More on Aptos Blockchain 101

Continuing the discussion from More on understanding APTOS:

How to buy Aptos token?

Buy through exchanges. CoinGecko offers a full list of all the markets where you can buy APT. On Dec 6, only five exchanges provided APT/USDT or APT/BUSD pairs. Always check cybersecurity and solvency ratings of exchanges before investing your money.

Buy for fiat. Since November 29, 2022, people can buy APT for fiat currency thanks to the integration with MoonPay. The MoonPay integration enables buying Aptos tokens with Visa, MasterCard, Apple Pay, and Google Pay. There’s also a native Petra Wallet implemented as a free Chrome extension. This web interface supports APT storage and transfer, NFT creation and viewing, and dApp interaction. Petra Wallet also supports the MoonPay fiat off-ramp.

Aptos ecosystem

A blockchain is as strong as its ecosystem. The most popular projects on Aptos are NFTs and marketplaces, DeFi, launchpads, wallets, and infrastructure tools. Here, the biggest names are AUX Exchange, PancakeSwap, LiquidSwap, Tortuga, Ditto, Thala Labs, and Race Capital.

The CEO Mo Shaikh shared a few numbers a week after Aptos’ main launch:

  1. 6.8M+ total transactions
  2. 1M total downloads across all Aptos wallets
  3. 225,000+ NFTs sold
  4. 30 live projects across wallets, tooling, NFTs, DeFi

Aptos ecosystem is easy to hop on. Users can check transactions, blocks, and validators with Aptos Explorer, a block explorer with a sleek-looking UI. Having individual and business creators onboard is vital for Aptos’ long-term future. For creators, there’s detailed and comprehensive white paper and Developer documentation. Developers can also apply for the Aptos Foundation Grant program with a 5 million APT total budget. Partnership with Google Cloud is an important pull factor for new Web3 developers.

What makes Aptos unique?

  1. The well-known Aptos Labs team made up of former Meta blockchain engineers.
  2. Native integration of the verifiable, simple, and flexible Move programming language.
  3. Modular design and resource objects that cannot be implicitly discarded.
  4. Strong developer documentation, white papers, and grants.
  5. Parallel processing engine for high TPS.

Aptos vs. Sui

Aptos and Sui are both very recent blockchains, so it makes sense to compare them first. The two Layer-1 ecosystems are the closest competitors also because they share the same Move-based origin. They have similar BFT consensus, objects, permissionless validators, parallel execution, and segmentation into full node and light clients. With so many similarities, it all comes down to market adoption. Aptos is heading the way right now in these metrics.

Aptos vs. Solana

Some crypto observers bullishly predict that Aptos will be the next Solana’s killer. They have a similar vision – quick layer 1 blockchain. Right now, Solana’s position remains unchallenged. Indeed, compare Aptos current 9 TPS with Solana average throughput of more than 3,500 TPS. Solana capitalization is around $5 billion vs. $600 million of the challenger’s. They aren’t even close. The two blockchains will certainly co-exist, but Aptos may offer something better in the future. Right now, Aptos is way ahead. Sui is still in the testnet stage with fewer validators, a smaller ecosystem, and lower transaction volume.

Aptos vs. Avalanche

In terms of comparison, Avalanche is a more traditional and more established blockchain platform. Avalanche is an EVM blockchain protocol compatible with Solidity. AVAX is the 20th largest cryptocurrency in the world. Its market cap is Right now, Avalanche has a higher throughput with an average of 24 TPS and 2 million daily transactions. Both platforms have a compelling vision for the future.

Aptos vs. Ethereum

Ethereum is the biggest cryptocurrency after Bitcoin. They are incomparable regarding numbers, ecosystem, transactions, and assets. As things stand right now, the new chain can only hope to get a small bite of Ethereum’s market with quick transfers, higher throughput, lower fees, and secure private key recovery. Therefore, things are only getting started for the new Move-based blockchain.

What are the downsides of Aptos?

The most crucial downside is the failure to deliver what it has promised. The founders teased a mind-blowing number for the throughput and claimed that the layer 1 protocol hits 2,500 TPS “with ease.” However, the throughput has been decreasing every week. The current rate of 9 TPS leaves many fans bewildered. Aptos hyped up the community but didn’t achieve the claimed results. How solid are their current and future promises?

On the one side, a somewhat shaky start has revealed organizational, preparedness, and incident response cracks. On the other hand, the blockchain may be a victim of its own high publicity. They used to work for Facebook. It’s no wonder the entire market is watching them. Too much attention might have caused unwanted chaos. For example, APT Airdrop wasn’t available to everyone because the company closed its Discord servers at peak attendance. Aptos Labs claimed protection from scammers, but this is something that could have been predicted and mitigated.

Aptos Smart Contract Audit process

Cybersecurity is a pillar of blockchain’s viability. The October launch has attracted many scammers causing disruptions to Aptos Airdrop. The only way to avoid costly errors and ensure that the code is without any vulnerabilities is to conduct a professional third-party review. The simple Move language and modular design are very audit-friendly. On top of that, Move is based on Rust

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Nice assessment.

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Thanks for information

Thank you for your information

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Aptos to the moon soon😉

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the only way is up

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my pleasure

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