The Aptos network's native governance and utility token, APT, was listed on many major exchanges on October 19, 2022.

Former Diem engineers have come together to create Aptos, a highly scalable Layer 1 blockchain, in an effort to address the issues of trust, security, and usability that have thus far prevented the widespread use of blockchain technology. The team's end goal is to provide the world's most secure and ready-to-use blockchain, one that can ease the transition to the more scalable and upgradeable Web3.

The Aptos team is utilizing Move, a programming language originally designed for Meta's Diem project, to build their own stablecoin (formerly known as Libra). To achieve sub-second finality and high transactional throughput, the Aptos ledger uses a low latency Byzantine Fault Tolerant (BFT) engine to obtain consensus on the ledger's state.

Key information regarding Aptos and its foundational blockchain capabilities are summarized below.

Meta personnel who worked on the Diem stablecoin project have started a new blockchain venture called Aptos.

Aptos employs the Move programming language and the low-latency Byzantine Fault-Tolerant (BFT) consensus approach to create a highly scalable Layer 1 blockchain.

The current testnet capacity of the Aptos blockchain is 10,000 TPS, but the development team has successfully scaled the network to 160,000 TPS in simulated conditions.

Aptos's high scalability and extensive decentralization make it an excellent choice for Web3, DAOs, and NFTs.

Several notable cryptocurrency investors, including as a16z, FTX Ventures, and Jump Crypto, have provided the Aptos team with $350 million in funding.

The Aptos network's native governance and utility token, APT, was listed on many major exchanges on October 19, 2022.

Where did Aptos come from, and how does it function?

Software developers who worked on Facebook's Diem projects before they were shut down following years of regulatory scrutiny are developing Aptos, a high throughput blockchain. Byzantine Fault Tolerance (BFT) is a consensus mechanism that ensures networks continue to function normally even if one of the nodes fails; it is the defining feature of the Aptos platform.

In order for Aptos to take advantage of secure resource management and auditable on-chain executions, the Diem team developed the Move programming language. In accordance with the Aptos team, Move implements everything from accounts and transaction fees to a standard library, validator node management, and configuration.

Aptos is able to combat blockchain congestion caused by an increase in dApps, DAOs, and non-fungible currencies because to its novel consensus architecture and a custom-built Move language (NFTs). After Aptos's full rollout, the company expects the mainnet to support billions of users. Aptos is an emerging blockchain platform that can handle over 10,000 transactions per second even in its early phases (TPS). Although a decrease in finality may increase throughput significantly in the future. By comparison, the maximum throughput for Bitcoin is 7 TPS and for Ethereum it is 30 TPS.

Since the Aptos ecosystem is built on solid blockchain infrastructure, it has the potential to become a hub for blockchain-based media, gaming, and social networking services. Several Web3 projects, such as the on-chain order book Econia, the mobile multi-sig wallet hive, and the dedicated Aptos wallet Martian, have already joined the project's incentivized testnet.

Development of Aptos

An ex-Diem team came up with the idea for the Aptos blockchain to create their own Layer 1 blockchain by drawing on their prior efforts in developing Diem's decentralized and highly scalable payment network.

Mo Shaikh, a veteran in business strategy and product development, is a co-founder of Aptos. Shaikh is an authority on the construction of distributed systems. The other half of Aptos' founding duo, Avery Ching is a computer scientist. When it comes to constructing massive distributed networks, Avery is a leading authority. More than a dozen academics, engineers, designers, and strategists round out the Aptos teams with Avery and Mo.

Aptos was founded in 2021, and it was able to secure funding from some of the industry's most well-known VC firms due to the caliber of its founding team. Seed funding of $200 million was secured in March of 2022 from investors led by Andreessen Horowitz. Aptos secured an additional $150 million in series A funding in July 2022, with FTX Ventures and Jump Crypto serving as the company's primary backers.

Previous Aptos Prices

Aptos's mainnet debut is scheduled for the third quarter of 2022, the team announced after the Series A financing round was successfully completed. After months of running incentive-based testnets, the Aptos team finally launched the Aptos mainnet on October 17. Soon after, many marketplaces, notably Binance and FTX, declared their compatibility with the Aptos (APT) coin.

The APT price history data reveals the following about the progression of the token's value:

After Hotbit added Aptos-centric IOU trading pairs on October 18th, the price of an Aptos token soared above $50.

On October 19, 2022, APT crypto began trading for around $8.50 per token on Binance, Coinbase, and FTX.

Total Aptos Market Value and Available Supply

Aptos's tokenomics have been unveiled, with details provided by the Aptos team. According to the available Aptos price and supply statistics, the fully diluted market cap of Aptos is in the billions of dollars.

The total number of Aptos tokens in existence at launch was 1 billion. According to a post on the official APTOS tokenomics blog, the following is the distribution of Aptos tokens at launch:

Locals make up 51.00 percent.

VIP- 19.00%

16.50% for the base

Those Who Invest - estimated at 13.00%

Taking into account network performance and staking assumptions given by the Aptos Foundation, the quantity of Aptos tokens is expected to expand beyond 1.5 billion tokens by 2031.