Continuing the discussion from Wondering how aptos works?:
As of December 2 2022, the current rate of transactions is 8 TPS with 102 active validators. This is far cry from a promised 160,000 TPS but comparable with other blockchains. In the 30 days of November 2022, the peak rate of transactions in Aptos blockchain was 2,107 TPS.
Aptos is a Move-based L1 Blockchain. Move is a verifiable Rust-based programming language developed by Diem blockchain initiative and inherited by Aptos chain. As its name implies, Move is very flexible and allows custom transactions and contracts.
The two key elements in the architecture are Move modules and singer objects. A module (i.e., the script of code on blockchain) doesn’t have storage but can modify resources. Modules can call each other directly without signing transactions. Signer is a resource object created when signing a transaction. Because the Signer object registers resources to an account and verifies user credentials, thus is vital for Aptos chain security.
Aptos’ main feature is resources. Resources are objects that cannot be copied or dropped. Module (contract) calls don’t waste resources by default. Each user account stores resources, which enables decentralization. Only the user can register resources to their account, thus making it impossible to spam tokens.
APT token is the best example of how Move-based resource objects work. Before making transfers and using modules, all coins belonging to a new account are first registered using the signer object. Aptos coin is not ERC20-compatible, which excludes allowance functionality. However, modules call each other directly.
APT is a native Aptos token. The newly released L1 blockchain has secured its position in the Top100 cryptocurrencies. A few days after the ICO, APT reached a market cap of more than $1 billion. In the following days, its valuation stabilized at around $690 million.
Aptos native token with a total supply of 1 billion has the following distribution:
- Community 51.02%
- Core contributors 19%
- Foundation 16.5%
- Investors 13.48%
Detailed distribution schedules and token supply estimations are available on Aptos Foundation website.
Learn about the importance of good tokenomics for a crypto project success.