Aptos
Price Chart and APT News

About Aptos

Aptos is a new layer-one blockchain developed by Aptos Labs, a company founded by core contributors of Diem, the blockchain project developed by Meta. The network has been under development for over three years and uses Proof-of-Stake (PoS) as its consensus algorithm. Aptos aims to address scalability, safety, reliability, and upgradeability issues that have plagued other blockchains like Ethereum and Solana.

The Technical Aspects of Aptos

Aptos employs Move's object model to represent the state of its ledger. Move is a smart contract programming language designed to emphasize safety and flexibility. The data model of Aptos defines its ledger state as the state of all accounts, versioned with an unsigned 64-bit integer that corresponds to the number of transactions executed on the network.

Scaling Strategy

To achieve scalability, Aptos plans to implement multiple sharded ledger states offering a homogeneous API and sharding concept. This unique horizontal approach allows data transfer between shards using a homogeneous bridge.

Governance Model

The governance model of Aptos operates on a proof-of-stake (PoS) consensus algorithm where validators need to stake a minimum required amount of Aptos tokens to participate in transaction validation.

The APT Token

The token powering the Aptos ecosystem is called APT. At the mainnet launch, its initial supply was set at 1 billion tokens. The project airdropped 20,076,150 APT tokens to 110,235 eligible addresses to kick off this launch.

About Aptos Labs

Mo Shaikh and Avery Ching led Aptos Labs in 2021, who previously worked on Meta’s blockchain project Libra/Diem. The company has secured significant funding, raising $200 million in March 2021 from prominent investors, including Andreessen Horowitz (a16z), FTX Ventures, and Coinbase Ventures.