What is Aptos Token (APT)? New Solona?

Aptos (APT) is a scalable Layer-1 blockchain network project founded by former Meta employees. It aims to bring decentralization and Web3 ideas to a wider audience. Designed by Aptos Labs' 300+ developers over a period of three years, the blockchain offers new solutions for smart contracts and decentralized applications.

Aptos' core principles include scalability, security, reliability and upgradability. As a Proof-of-Stake (PoS) blockchain, Aptos offers an advantageous platform for decentralized application developers.

What is Aptos (APT) Token?

APT token is the native cryptocurrency of the Aptos blockchain network. On October 18, 2022, when the Aptos mainnet went live, 1 billion APT tokens were initially issued. As one of the promising Web3 tokens, the APT token can be staked to become a validator on the network or used for transaction fees on the network.

Who are the Founders of Aptos Project

Aptos was founded by Avery Ching and Mo Shaik, who previously worked on Meta's Diem blockchain project. Ching and Shaik adapted to Aptos the "parallel execution" technique created during Meta's days, which aims to keep costs low by speeding up transactions on the network. The Aptos main network went live on October 18, 2022.

What Makes Aptos Project Special?

Aptos uses Move, a Rust-based programming language developed independently by Meta, and key elements of the Diem blockchain. But what makes Aptos stand out is its promise of high transaction speed to both developers and end users. The Aptos network uses a parallel execution engine (Block-STM). Thanks to this technology, Aptos can process more than 130 thousand transactions per second. The parallel execution engine increases transaction speed while keeping costs low.

All transactions are processed and then verified simultaneously; failed transactions are aborted and re-executed thanks to STM libraries that detect and manage conflicts. This special structure of Aptos sets it apart from other blockchains and allows it to increase throughput capacity while increasing transaction speed at no additional cost to users or developers.

APT Token Whitepaper

The Aptos (APT) project whitepaper is available here. The APT token whitepaper emphasizes that the Aptos blockchain promises high transaction speed and low cost.