Aptos (APT)

What is Aptos (APT)?

Aptos (APT) is a layer 1 blockchain that uses the Proof-of-Stake (PoS) consensus mechanism. This puts Aptos in a lineup between other blockchains like Bitcoin, Ethereum and Cardano; these too are layer 1 blockchains. But why do we really need another layer 1 blockchain?

Aptos’ blockchain focuses on Web 3.0. This is a technical development that we are currently finding ourselves in. Web 3.0 is also called the “new Internet” and is the name for all economic services, products and applications that are built on the blockchain. These include DeFi, NFTs, GameFi, Play-to-Earn (P2E) games and crypto. Decentralization is central to Web 3.0.

Aptos wants to be a blockchain that makes Web 3 adoption easier. It does so by creating an ecosystem that has solved the main problems of other blockchains. These include problems such as the blockchain trilemma (scalability, security and decentralization), as well as usability.

On Oct. 17, 2022, the mainnet of Aptos was launched. Developers can program their own smart contracts using the Move programming language. This programming language ensures that smart contracts can be executed securely and quickly. The network can perform a large number of transactions which leads to fast transaction processing. This high transaction throughput is possible because transactions are processed in parallel.

Also, the developers have used various techniques that optimize performance and decentralization. The network also tracks the reputation of validators. They are chosen to process transactions partly based on their reputation. All of this makes Aptos, they say, much faster, more secure and more scalable than its competitors.
What can you use Aptos (APT) for?

Aptos supports the development of smart contracts. Developers can therefore build their own decentralized application on Aptos’ blockchain. They are also able to develop and run cryptocurrencies on Aptos.

This makes Aptos a blockchain that can be used by developers, but can also be important for end users. These end users, according to Aptos, would be able to use applications that can be used securely, quickly and at low cost. Many competitors do not offer this capability because they suffer from the blockchain trilemma. This trilemma means that a blockchain can only meet two of its three main characteristics (secure, decentralized and scalable), whereas ideally it should meet all three.

Who are the founders of Aptos?

Mo Shaikh is the CEO and co-founder of Aptos. This is not the first crypto project Shaikh has worked on, as in the past he was Director of Strategy at ConsenSys, a large blockchain company. Currently, Shaikh is a consultant and advisor at several other companies.

Avery Ching is the CTO and other co-founder who has been active as a software developer for more than 10 years. Within Aptos, Ching provides technical development for Aptos as an executive along with a large team consisting of several software developers. In the past, Ching was vice president at Apache Giraph.
Who are Aptos’ competitors?

Of course, Aptos is not the only layer 1 blockchain that supports smart contracts. As a result, Aptos has a large number of competitors. Aptos’ competitors include:

Layer 1 blockchains such as Ethereum (ETH), Binance Smart Chain (BSC), Solana (SOL), Cardano (ADA) and Avalanche (AVAX).
Layer 2 scaling solutions such as Polygon (MATIC), Optimism (OP) and Arbitrum.
Layer 1 programs such as Moonbeam (GLMR) and Astar (ASTR).

The APT coin

APT is the cryptocurrency of Aptos. You can think of APT as the fuel of Aptos. In fact, without the APT coin, the blockchain would not be able to run. When users want to make a transaction on Aptos, they pay the transaction fee with the APT coin.

Validator nodes can discontinue APT when they want to contribute to transaction processing and block creation. Staking APT allows you to earn a passive income from Aptos.
Tokenomics of Aptos

There is a total inventory of 1,000,000,000 APT coins, according to Aptos. Of these 1 billion APT coins, 130 million tokens were in circulation at the launch of the mainnet (Oct. 17, 2022). The number of tokens in circulation will continue to increase in the coming years. APT tokens are distributed in the following way:

51.02% is for the community;
19% is for the team, consultants and private investors;
16.5% is for the foundation;
13.48% is for investors.

Where to buy Aptos (APT)?

Do you want to buy Aptos (APT)? At Coinmerce you can buy Aptos with iDEAL and SEPA. In the Netherlands and Belgium you buy APT coins of course at Coinmerce.

Aptos you can buy with a normal market order, stop limit order or repeating order. Therefore, Coinmerce is an ideal platform for both the novice and advanced crypto trader looking to buy Aptos.

Do you want to buy APT but don’t have an account with Coinmerce yet? Then you can create an account. After you create an account you can trade up to more than 120 different cryptocurrencies on Coinmerce’s platform.

In which crypto wallet to store Aptos (APT)?

You store Aptos (APT) easily and securely in your personal Coinmerce wallet. After you buy Aptos, you’ll find the APT tokens right in your wallet. Coinmerce keeps most of its cryptocurrencies in cold storage. Want to make your account extra secure? Then enable two-factor authentication (2FA).

It is also possible to store Aptos in an external wallet after you buy the coins from Coinmerce. For example, consider an external hardware wallet such as Trezor or Ledger. To do this, you must first verify the wallet address with Coinmerce. You can do this within your account.