The competition for innovation in the crypto space is heating up, with emerging platforms like Aptos being labelled as the Solana killer. Previously, Solana was held as the potential Ethereum Killer; now it seems another platform has taken over its throne.
It handles all the coins/tokens displayed on the investment and trading Web site.
Following the multiple outages that have hit Solana this year, there is growing skepticism around its touted blockchain.
This has driven investors to look for an Aptos appears and viable alternative to be it. With significant investments from venture capitalists and an innovative framework, Aptos might just be the One.
In this article, we will explore what makes up Aptos’ blockchain.
About Aptos (APT)
Aptos is a layer-1 blockchain platform developed by over 350 programmers to become a secure, scalable and upgradable foundation for Web 3.0 developments. Its native token, APT, serves as its symbol and can be used to access various services on the Aptos network.
Aptos has been gaining immense attention lately due to its strong developmental history. The blockchain is created by the developers of the Diem project, which was a former Facebook initiative.
While the prior venture did not proceed as planned, Aptos sets out to build upon its potential and make crypto available to mainstream users through its enhanced scalability benefits.
Also Read: How Can Bitcoin Payments be Accepted?
Working of Aptos
Aptos incorporates a range of innovative features, including Move – a programming language developed by Meta that is based on the Diem blockchain. Furthermore, Aptos is equipped with Block-STM, a parallel execution engine alternative to the typical sequential or serial execution used in most blockchains.
The standard form of chain processing consists of updating a single transaction history at once – for example, when making cryptocurrency trades like Bitcoin it adds the completed transactions into one line referred to as “blocks” and cannot be changed afterwards.
Parallel execution makes it possible to record multiple transactions simultaneously, in contrast to traditional blockchains. Aptos is a prime example of an infrastructure blockchain that boasts over 30 DeFi projects within its ecosystem.
What makes Aptos better than Solana?
The Aptos blockchain uses a special programming language called Move. It’s based on Rust, which was originally developed for Meta’s Diem platform.
Meanwhile, Solana primarily runs on Rust but can be used with C or C++ as well. In this article, we’ll discuss the features of both languages and how they are being used in each respective platform.
In the short time since its launch, the Aptos blockchain has already seen 30 DeFi projects built on its platform.
While impressive, this number is still far fewer than Solana’s 250-project count – highlighting the difference between these two blockchains.
Aptos leverages the Proof-of-Stake consensus mechanism and combines it with its proprietary low latency Byzantine Fault Tolerance (BFT) system, as a fail-safe measure against malicious actors.
Solana has further pushed innovation in blockchain technology by introducing their hybrid network which couples the original PoS algorithm with an extended version known as ‘Proof-of-History’. This combination is what sets Aptos’ blockchain apart from many others.
Capacity in TPS
The Aptos research labs have predicted the blockchain will handle as much as 160,000 transactions a minute in the Aptos blockchain.
There exists, though, no indication that it’s in fact attained that objective. Similarly, Solana has expressed the potential of 65,000 transactions per second but only averages around 3,000 in reality.
Is Aptos a good investment?
Aptos has seen a surge in investments from prominent figures in the cryptocurrency space due to its unique framework and key features.
The Aptos Explorer shows there are over 1 billion APT tokens currently in circulation, with 800 million actively being staked. This means around 80% of the token supply is held by early investors, private buyers, and members of the Aptos team.