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About Aptos (APT)
Aptos (APT) is a new Layer 1 blockchain that focuses on delivering high throughput, scalability, and reliability. It is developed by former Diem blockchain developers and aims to enhance the overall user and developer experience with improved security and reduced latency. The APT token is used for transaction fees, governance, and staking within the Aptos ecosystem.
Aptos Frequently Asked Questions (FAQ)
What is the maximum transaction throughput Aptos claims to achieve?
Aptos claims to achieve a maximum transaction throughput of over 160,000 transactions per second (TPS).
What smart contract language is used in Aptos blockchain?
Aptos blockchain uses Move, a Rust-based smart contract programming language.
Who led the seed funding round for Aptos in March 2022?
a16z, also known as Andreessen Horowitz, led the seed funding round for Aptos in March 2022.
What is the main vision behind the development of Aptos?
The main vision behind the development of Aptos is to create a highly scalable and secure blockchain that can serve as the foundation for decentralized applications. Aptos aims to enable mass adoption of blockchain technology by providing reliability, ease of use, and upgradable infrastructure for various user and developer needs.
When was the Aptos mainnet officially launched?
The Aptos mainnet was officially launched on October 17, 2022.
Who are the founders of Aptos and what is their background?
The founders of Aptos are Mo Shaikh and Avery Ching, both of whom previously worked on the Diem blockchain project led by Facebook. Mo Shaikh specializes in business and strategy within the blockchain and fintech sectors, while Avery Ching has a background in software engineering with experience in building scalable distributed systems.
How is Aptos different from other blockchains in terms of transaction processing?
Aptos utilizes a unique consensus algorithm called DiemBFT v4, which allows for more efficient transaction processing. This consensus protocol is designed to increase throughput and reduce latency. Additionally, Aptos employs parallel execution of transactions using Block-STM, which further enhances performance and scalability compared to traditional serial execution used in many blockchains.
What is the initial total supply of Aptos's native currency, APT?
The initial total supply of Aptos's native currency, APT, at the network launch is 1 billion tokens.
What is the purpose of the Aptos Bridge launched by LayerZero Labs?
The purpose of the Aptos Bridge, launched by LayerZero Labs, is to enable secure, cross-chain communication and asset transfers between the Aptos blockchain and other supported blockchains, thereby enhancing interoperability and expanding the functionality of the Aptos ecosystem.
What are the consensus protocols used by Aptos to secure its network?
Aptos secures its network using the AptosBFT consensus protocol, a variant of the Byzantine Fault Tolerant (BFT) consensus mechanisms. AptosBFT is designed to handle high transaction throughput with low latency while ensuring strong security guarantees.
Which exchanges can APT tokens be traded on?
APT tokens can be traded on major cryptocurrency exchanges. Please note that exchange availability may vary by region and current listing status.
What were the objectives of the Aptos Incentivized Testnet (AIT) campaigns?
The objectives of the Aptos Incentivized Testnet (AIT) campaigns were to stress-test the network's performance, identify and fix issues, ensure security and scalability, engage the community as participants, and incentivize validators by rewarding them for their efforts in improving and maintaining the network's robustness.