What are the reasons that made the Aptos project shine in the crypto arena despite its newness?
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Answer What are the reasons that made the Aptos project shine in the crypto arena despite its newness?
Lately, the crypto market, which has been sluggish during the crypto winter, is all excited about the APT airdrop.
Here’s what happened?
After raising hundreds of millions of dollars from investors, Aptos finally launched its mainnet on October 18.
As the project is new, it has opted to provide more than 20 million APTs to more than 110,000 pilot networks through airdrops.
This get-rich-quick opportunity has sparked a lot of excitement in the cryptocurrency market.
Amidst the new airdrop frenzy in bear market conditions, Aptos, which has a new public network, has grabbed the spotlight.
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In addition, it was noted that the project is backed by distinguished institutional investors including a16z and FTX.
Aptos is a project powered by a star-studded team:
Aptos is a public Tier 1 network founded by former members of the Facebook stablecoin project.
The project aims to build a scalable, secure, trustworthy, and scalable smart contract platform that can scale into a public blockchain that meets the needs of the next billion users on Web 3.
In February, Aptos captured the market’s attention and attracted many institutional investors with its elite team.
In addition, the project raised hundreds of millions of dollars before launching its main network.
With first-mover advantages in terms of funding and team, Aptos has remained in the center of attention in the cryptocurrency market.
In terms of technologies, Aptos uses the Move programming language and parallel transaction processing, and presents itself as a competitor to public Layer 1 and Layer 2 networks such as Solidity-based Ethereum.
Aptos Technical Features:
- Move Programming Language: The powerful Move programming language emphasizes scarcity and access control and enhances the security of public networks at the lower tier and keeps them resilient. In sum, it is a smart contract language more suitable for financial applications.
- AptosBFT (version 4): The fourth project version of the Aptos BFT consensus protocol is known for improving confirmation speed and network stability.
- Block-STM Parallel Engine: Aptos has built a powerful multi-threaded parallel execution engine to execute transactions more efficiently.
Compared with other public networks, Aptos adopts the BFT consensus mechanism and innovative parallel computing technology, which helps it deliver improved performance.
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Currently, the project claims that it can process more than 10,000 transactions per second, and ideally 160,000 transactions per second in the future.
Aptos ecosystem:
There were more than 100 projects built and tested in the Aptos ecosystem even before its main network was launched.
The cross-category ecosystem such as DeFi, NFT, and GameFi includes several successful projects spanning Pontem Network, Martian Wallet and Solrise Finance.
Meanwhile, Aptos has set up Aptos Labs, which focuses on building infrastructures on the Aptos Network.
For example Petra is a cryptocurrency wallet, and Aptos Name Service, the official domain name service for Aptos, are two products developed by the Aptos Labs team.
From early support provided to projects in its ecosystem to formal projects built by Aptos Labs, Aptos has fostered a vibrant ecosystem with mixed-use projects, preparing it to launch its core network and helping the project get off the ground quickly.
According to data from Aptos Explorer, as of October 24, the total number of transactions on Aptos has exceeded 10 million, 8,223,371,545.54 APTs are actively stacked, and the number of active validators is 102.
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Backed by a strong team, top-notch core technologies, record productivity, and investments from major investors, Aptos has become a popular public network within a short period of time.
During the launch of its mainnet, the project also announced the specific distribution of its digital currency, APT.
The total supply of APT is 1 billion coins, of which 51.02% will be allocated to society, 16.5% to the foundation, 19% to primary shareholders, and 13.48% to investors.
With more than 82% of the supply in storage, APT will be used for governance, payment of network fees, and installation by auditors.
CoinEx, a cryptocurrency trading platform, listed APT on October 21 and introduced two new spot trading pairs:
APT/BTC and APT/USDT.
Official links to the platform coinex On social networks:
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https://www.facebook.com/CoinExMENA
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