The host of the popular crypto market commentary show Coin Bureau says Aptos ($APT) “wants to scale to support billions of users and every use case you can think of”, and it “actually has the tech to do it.”
On 12 October 2022, the mainnet for Web3-focused layer one (L1) blockchain Aptos went live:
The Aptos blockchain is being developed by a startup named Aptos Labs, which was founded by Mo Shaikh and Avery Ching. In its white paper, Aptos is described as “a safe, scalable, and upgradeable Web3 infrastructure”.
The white paper goes on to say that Aptos “offers new and novel innovations in consensus, smart contract design, system security, performance, and decentralization”:
- “First, the Aptos blockchain natively integrates and internally uses the Move language for fast and secure transaction execution. The Move prover, a formal verifier for smart contracts written in the Move language, provides additional safeguards for contract invariants and behavior. This focus on security allows developers to better protect their software from malicious entities.
- “Second, the Aptos data model enables flexible key management and hybrid custodial options. This, alongside transaction transparency prior to signing and practical light client protocols, provides a safer and more trustworthy user experience.
- “Third, to achieve high throughput and low latency, the Aptos blockchain leverages a pipelined and modular approach for the key stages of transaction processing. Specifically, transaction dissemination, block metadata ordering, parallel transaction execution, batch storage, and ledger certification all operate concurrently. This approach fully leverages all available physical resources, improves hardware efficiency, and enables highly parallel execution.
- “Fourth, unlike other parallel execution engines that break transaction atomicity by requiring upfront knowledge of the data to be read and written, the Aptos blockchain does not put such limitations on developers. It can efficiently support atomicity with arbitrarily complex transactions, enabling higher throughput and lower latency for real-world applications and simplifying development.
- “Fifth, the Aptos modular architecture design supports client flexibility and optimizes for frequent and instant upgrades. Moreover, to rapidly deploy new technology innovations and support new web3 use cases, the Aptos blockchain provides embedded on-chain change management protocols.
- “Finally, the Aptos blockchain is experimenting with future initiatives to scale beyond individual validator performance: its modular design and parallel execution engine support internal sharding of a validator and homogeneous state sharding provides the potential for horizontal throughput scalability without adding additional complexity for node operators.“
In a video released on Thursday (October 27), according to a report by The Daily Hodl, the pseudonymous host of the popular YouTube series Coin Bureau had this to say about Aptos:
“In terms of price action, there isn’t much I can say about APT just yet because it’s a brand new cryptocurrency... Even so, at first glance, Aptos looks grossly overvalued – a market cap of over $1 billion and a fully diluted market cap of over $9 billion... Upon closer examination, however, it does look like some fundamentals are starting to form. According to the Aptos explorer, there are over 1.7 million wallet addresses…
“Aptos has lots of milestones ahead of it… The ‘too long; didn’t read’ is that Aptos wants to scale to support billions of users and every use case you can think of, just like every other new crypto. The difference is that Aptos actually has the tech to do it.“
According to data by CryptoCompare, currently (as of 8:00 a.m. UTC on October 29) $APT is trading around $8.263, up 1.76% in the past 24-hour period.
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