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Aptos is a Layer 1 Proof-of-Stake blockchain that uses a new programming language called Move, developed by engineers from Meta (formerly Facebook’s Diem). Its goal is to drive mainstream adoption of web3 and provide a platform for DApps to solve real-world problems.
With the potential for over 150,000 transactions per second, Aptos raised $200 million in a seed round led by Andreessen Horowitz, followed by a $150 million Series A round led by FTX Ventures and Jump Crypto. In September 2022, Binance Labs invested an undisclosed amount, bringing Aptos’ valuation to $4 billion.
The mainnet launch of Aptos was announced on October 18, 2022, with its genesis block mined on October 12, 2022.
Aptos is a Layer 1 Proof-of-Stake (PoS) blockchain that boasts high transaction processing capability, with a claimed ability to handle over 150,000 tps, far surpassing Ethereum’s mainnet tps of 12 to 15. This high transaction throughput is made possible through the use of Block-STM, a parallel execution engine and Byzantine fault-tolerant PoS consensus mechanism. Transactions are processed simultaneously and validated later, with any failed transactions being re-executed or aborted, due to the blockchain’s software transactional memory libraries.
In terms of smart contract programming, Aptos is built using Move, a new language that was independently developed by Meta (formerly Facebook)’s Diem blockchain engineers. Move is said to offer advantages over Solidity, the EVM-based language, with its blockchain commands that can be easily verified, the ability to modify private keys, and the modular design of Aptos. Aptos also features upgradeability and configurability, as well as horizontal throughput scalability, which is provided by its natively-implemented sharding feature. This all contributes to providing a better user experience.
