An intriguing and publicized blockchain project by its origins, the launch of the Aptos mainnet has caused impatience in the community. The main network is finally deployed, without a hitch. The layer 1 blockchain that claims to be the most secure and scalable must now prove itself.
Aptos, a scalable layer 1 blockchain
In itself, Aptos is not a new entity. The project used key elements of the old Diem blockchain. This is Meta’s blockchain initiative that was discontinued in January. This means that Aptos already has a solid foundation on which to build its products. The layer 1 blockchain also uses Move, the programming language based on Rust. Its features include, among other things, a parallel execution engine (Block-STM), capable of processing up to 160,000 transactions per second. The network would also incorporate high-level security features and ensure low transaction costs.
Aptos quickly caught the attention of venture capitalists. Investors such as a16z Crypto, Multicoin Capital, Hashed, Tiger Global, Three Arrows Capital, FTX Ventures and Coinbase Ventures have injected $200 million into the project. Subsequently, Aptos Labs, the startup behind this project, was still able to raise an additional $150 million. This success is partly due to the experience and solid reputation of its founders (Mo Shaikh and Avery Ching, former senior developers at Meta). Its unique architecture (a combination of Block-STM technology, Move programming and BFT consensus) has also convinced investors.
Launching the mainnet after a multi-stage testnet
The testnet gives Aptos Labs the opportunity to test the performance of the blockchain. The developers were able to test the security. They were also able to test user interfaces and transaction validation. In testing, Aptos claims to have processed 130,000 transactions per second. A particularly impressive performance compared to those on Ethereum with a maximum of 30 TPS. The mainnet was officially launched on October 17th.
The mainnet is currently using the latest version of AptosBFT (version 4). The latter leverages a Byzantine Fault Tolerance (BFT) consensus protocol with responsive production optimization. Aptos is designed to run a variety of decentralized applications (DApps) and non-fungible tokens (NFTs). Through its innovations and its performance, developers aim to open Web3 to as many people as possible. The machine is therefore launched. FTX, a major investor in Aptos, for example, listed Aptos APT token just two days after the mainnet rollout.
Aptos: performance to be confirmed after deployment
Aptos bills itself as “the most secure and scalable layer 1 blockchain”. Scalability refers to its ability to adapt to future changes in the ecosystem. As global blockchain adoption accelerates, blockchain performance requirements increase exponentially. Aptos will keep pace. On the performance side, Aptos has announced a processing capacity of up to 160,000 GST in addition to finalizing transactions in less than a second.
If the project lives up to its promise, it will be very different from existing Layer 1 chains. With its capabilities, Aptos clearly has the potential to quickly outperform its competitors. It remains to be seen whether Aptos’ approach to trade execution proves indeed revolutionary. Time will tell us. In any case, the launch of the Aptos mainnet was a success.
Aptos is very promising, but investors should remain cautious as the project is heavily funded by the venture capital. But overall, Aptos’ programming language, Move, is most likely here to stay. This one offers better scalability and increased security compared to other layer 1 blockchains. Which makes Aptos a solid bet.
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