A layer 1 in the big leagues – Ethereum has long been the queen of smart contracts blockchain. However, his technical limits spawned the creation of many other channels eager to offer better performance. One of them, aptshas just deployed its mainnet.
Aptos: a next-generation blockchain
apts is a new so-called blockchain layer 1. This was born in August 2022 with the publication of his whitepaper. In this paper, the blockchain is described as being a « secure, scalable and extensible web 3 infrastructure».
At the origin of this project, we find Mo Shaikh et Avery Ching, two former employees of the Novi project (Meta) developed by Facebook. Indeed, the latter participated in particular in the creation of Movea language for smart contracts developed by Facebook teams.
This is how the Move language was selected for the Aptos blockchain. One of the advantages of using Move is the « Move Prover ».
“The Move Prover is a formal verifier for smart contracts written in the Move language. It provides additional guarantees for contract invariants and behavior. This emphasis on security allows developers to better protect their software against malicious entities. »
Statement from Aptos
Under the hood, consensus is ensured on Aptos by a mechanism of Proof of Stake byzantine fault-tolerant (BFT).
In terms of performance, Aptos intends to revolutionize the industry by announcing a theoretical throughput of 130,000 transactions per second.
Prior to its launch, Aptos Labs, the organization behind the Aptos network, completed three rounds of funding. In total, Aptos Labs raised by less than 350 million dollars from investors, such as Andreesen Horowitz (a16z), Parafi Capital, Binance Labs and FTX Ventures.
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4 years to see the Aptos mainnet deployed
Finally, after a testnet that generated a lot of enthusiasm from the community and the developers, the mainnet of Aptos was deployed on October 18.
“After more than four years of hard work, hundreds of contributions and hundreds of community projects around the world, we have arrived at the Aptos Mainnet. We are proud to have come here together, for the people. »
And the distribution of the APT token in all this?
Obviously, the Aptos blockchain has its native tokennamely theAPT. The launch of the mainnet was an opportunity for Aptos Labs to reveal more details about its token.
In total, 1 billion tokens APT will be created. These will be distributed to four categories of actors:
- 51.02% to the community (510 million APT tokens);
- 19% to central project contributors (190 million APT tokens);
- 16.5% allocated to the Aptos Foundation (160 million APT tokens);
- 13.48% allocated to investors (134 million APT tokens).
The tokens allocated to the community and the foundation will be distributed over a period of 10 years as follows:
- 125 000 000 APT available initially to support ecosystem projects, grants, and other community growth initiatives, now and in the future;
- 5 000 000 APT initially available to support Aptos Foundation initiatives;
- 1/120 of remaining tokens for the community and the Foundation should be unlocked every month for the next 10 years.
Validators spoiled by 7% yield
As we saw in the introduction, the Aptos network ensures its consensus via a Proof of Stake mechanism. Therefore, the network has validator nodes.
In practice, these validators must deposit APT tokens to participate in the process of securing the chain. Of course, they are rewarded. The maximum reward rate starts at 7% per year and is assessed at each exercise.
For its part, the queen blockchain of Ethereum smart contracts continues to fight against censorship. Indeed, several validators censor transactions to Tornado Cash. Beware, however, of purchases during listings on centralized exchanges, these events are highly volatile.
After its mainnet, Aptos will be listed from October 19 on FTX. Come and acquire and trade your first bitcoins and APTs. Register on FTX. You will benefit from a lifetime discount on your transaction fees (commercial link).