What is Aptos (APT)?

The rise of blockchains as a new Internet infrastructure has led to developers deploying tens of thousands of decentralized applications at rapidly growing rates. To enable mass adoption in the web3 era, blockchain infrastructure needs to follow the path of cloud infrastructure as a trusted, scalable, cost-efficient, and continually improving platform for building widely-used applications.

Aptos blockchain is designed with scalability, safety, reliability, and upgradeability as key principles, addresses these challenges. The Aptos blockchain has been developed over the past three years by over 350+ developers across the globe. 

It offers new and novel innovations in consensus, smart contract design, system security, performance, and decentralization. The combination of these technologies will provide a fundamental building block to bring web3 to the masses.

The Aptos blockchain natively integrates and internally uses the Move language for fast and secure transaction execution. The Move prover, a formal verifier for smart contracts written in the Move language, provides additional safeguards for contract invariants and behavior. This focuses on security and allows developers to better protect their software from malicious entities.

The Aptos data model enables flexible key management and hybrid custodial options. This, alongside transaction transparency before signing and practical light client protocols, provides a safer and more trustworthy user experience.

The Aptos blockchain leverages a pipelined and modular approach for the key stages of transaction processing. Specifically, transaction dissemination, block metadata ordering, parallel transaction execution, batch storage, and ledger certification all operate concurrently. This approach fully leverages all available physical resources, improves hardware efficiency, and enables highly parallel execution.

Unlike other parallel execution engines that break transaction atomicity by requiring upfront knowledge of the data to be read and written, the Aptos blockchain does not put such limitations on developers. It can efficiently support atomicity with arbitrarily complex transactions, enabling higher throughput and lower latency for real-world applications and simplifying development.

The Aptos modular architecture design supports client flexibility and optimizes frequent and instant upgrades. Moreover, to rapidly deploy new technology innovations and support new web3 use cases, the Aptos blockchain provides embedded on-chain change management protocols.

The Aptos blockchain is experimenting with future initiatives to scale beyond individual validator performance: its modular design and parallel execution engine support the internal sharding of a validator and homogeneous state sharding provides the potential for horizontal throughput scalability without adding additional complexity for node operators.


Who are the founders of Aptos (APT)?

The Aptos team previously built the Diem blockchain, which was deployed in early 2020 to more than a dozen node operators. It was founded by Mo Shaikh and Avery Ching, former Meta employees with several years of experience in the blockchain industry.

The Aptos team is made up of a highly-accomplished team of engineers, researchers, strategists, designers, and builders—all committed to delivering universal and equitable access to decentralization that is capable of scaling for billions of people.

Much of the Aptos team is credited with developing the technical innovations that power the Aptos blockchain—including the original creators of the Move language, Move Prover, the BlockSTM parallel execution engine, and Narwhal and Bullshark consensus mechanisms.


What is Aptos (APT) used for?

Validating 

To participate in transaction validation on the Aptos blockchain, validators must have a minimum required amount of staked Aptos tokens. The staked amounts proportionately affect the 2f + 1 stake-weighted PoAv during transaction dissemination as well as vote weights and leader selection during block metadata ordering.  Any validator operator with sufficient stake can freely join the Aptos blockchain.

Rewards 

Validators decide on the split of rewards between themselves and their respective stakers. 

Staking 

Stakers can select any number of validators in which to stake their tokens for a pre-agreed reward split. At the end of every epoch, validators and their respective stakers will receive their rewards via the relevant on-chain Move modules.

Voting

Every significant feature change and improvement on the Aptos blockchain will go through several phases, including proposal, implementation, testing, and deployment. This structure creates opportunities for relevant parties and stakeholders to provide feedback and share.


How is Aptos (APT) unique?

The Aptos vision is to deliver a blockchain that can bring mainstream adoption to web3 and empower an ecosystem of decentralized applications to solve real-world user problems. Their mission is to advance the state-of-the-art in blockchain reliability, safety, and performance by providing a flexible and modular blockchain architecture. 

This architecture would support frequent upgrades, fast adoption of the latest technology advancements, and first-class support for new and emerging use cases. They aim to build a decentralized, secure, and scalable network governed and operated by the community that uses it. 

The team’s experience building, developing, advancing, and deploying the Diem blockchain (the predecessor of the Aptos blockchain) over the past three years have proven that a network can continually upgrade its protocols without disrupting its clients. The Diem mainnet was deployed to more than a dozen node operators with multiple wallet providers in early 2020. 

With the Aptos blockchain, they have made a series of radical improvements to the technology stack while also incorporating safe, transparent, and frequent upgrades as a core feature, as inspired by the Diem blockchain. 


How many Aptos (APT) coins are in circulation?

Aptos has a circulating supply of 130,000,000 APT coins. It launched on the mainnet with an initial supply of 1 billion APT tokens. The distribution is as follows:

Community (51.02%)

Core Contributors (19.00%)

Foundation (16.50%)

Investors (13.48%)

Under the community allocation, around 80% (410,217,359.767 APT) is held by the Aptos Foundation and the remaining by Aptos Labs. This will be used to support community growth and Aptos Foundation initiatives, and the remainder will be unlocked monthly over the next ten years.

Investors and core contributors are subjected to a four-year vesting schedule from the mainnet launch, and more than 82% of the circulating supply is currently staked on the network. The Aptos team has not made any announcements regarding a token airdrop.


How is the Aptos Network secured?

Users may sign transactions unintentionally or without fully considering how their transactions might be manipulated. To reduce this risk, the Aptos blockchain constrains the viability of every transaction and protects the signer from unbounded validity. 

There are currently three different protections provided by the Aptos blockchain – the sender’s sequence number, a transaction expiration time, and a designated chain identifier.


How do I buy Aptos (APT)?

The APT token can be used for a wide range of uses, like staking and governance.

APT tokens can be easily purchased by following the following steps. 

Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy APT through your trading account by exchanging with BTC, ETH, or USDT.


Which Cryptocurrency Wallet Supports Aptos (APT)?

The PTPWallet platform supports many cryptocurrencies with Aptos to be included soon. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, supported by both Android and iOS devices, and comes with its own mobile wallet app.

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