One layer 1 in large alloys – Ethereum has long been the queen of blockchain smart contracts. However, his technical limits spawned the creation of many other channels eager to deliver better performance. One of them, Aptohe just distributed his main network.
Aptos: a new generation blockchain
Apto is a new so-called blockchain layer 1. This was born in August 2022 with the publication of his whitepaper. In this document, the blockchain is described as a ” secure, scalable and extensible web 3 infrastructure“.
At the origin of this project, we find Mo Shaikh And Avery Ching, two former employees of the Novi project (Meta) developed by Facebook. The latter, in fact, was particularly involved in the creation of movea smart contract language developed by the Facebook teams.
Here’s how the Move language was selected for the Aptos blockchain. One of the benefits of using Move is the “Move test”.
“The Move Prover is a formal verifier for smart contracts written in the Move language. Provides additional guarantees for contractual invariants and behaviors. This emphasis on security allows developers to better protect their software from malicious entities. “
Under the hood, consensus is secured on Aptos by a Proof of staketolerant to Byzantine errors (BFT).
In terms of performance, Aptos intends to revolutionize the industry by announcing a theoretical throughput of 130,000 transactions per second.
Before its launch, Aptos Labs, the organization behind the Aptos network, has completed three rounds of funding. In total, Aptos Labs increased by less than 350 million dollars by investors, such as Andreesen Horowitz (a16z), Parafi Capital, Binance Labs and FTX Ventures.
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4 years to see Aptos core network implemented
Finally, after a testnet that aroused a lot of enthusiasm from the community and developers, the main network of Aptos was released October 18.
“After over four years of hard work, hundreds of contributions and hundreds of community projects around the world, we have come to Aptos Mainnet. We are proud to have come here together, for the people. “
What about the distribution of the APT token in all of this?
Obviously, the Aptos blockchain has its own native tokenor theAPT. The mainnet launch 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 the central contributors of the project (190 million APT tokens);
- 16.5% assigned to the Aptos Foundation (160 million APT tokens);
- 13.48% allocated to investors (134 million APT tokens).
The tokens awarded to the community and the foundation will be distributed over 10 years as follows:
- 125,000,000 of APT available initially to support ecosystem projects, grants and other community growth initiatives now and in the future;
- 5,000,000 of APT initially available to support Aptos Foundation initiatives;
- 1/120 remaining tokens for the community and the Foundation it should be unlocked every month for the next 10 years.
Validators damaged by 7% yield
As we saw in the introduction, the Aptos network guarantees its consent through a Proof of Stake mechanism. Therefore, the network has validator nodes.
In practice, these validators must deposit APT tokens to participate in the chain securing process. Obviously they are rewarded. The maximum reward rate starts at 7% per year and is evaluated at each exercise.
For its part, Ethereum’s blockchain queen of smart contracts continues to fight against censorship. In fact, several validators censor transactions at Tornado Cash. Beware, however, of purchases during quotations on centralized exchanges, these events are highly volatile.
After its mainnet, Aptos will be listed on FTX from 19 October. Come and acquire and trade your first bitcoins and APTs. Register on FTX. You will benefit from a lifetime discount on transaction fees (trade link).