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Aptos

0.00%

Market Cap (USD)

$4B

24H VOLUME (USD)

$1.9K

Daily change

$0.65

Aptos (APT) Live Chart

Aptos (APT), a seemingly out-of-nowhere phenomenon, quickly earned a flattering reputation of being the next game changer in blockchain technology. Intrigued by its meteoric rise, we felt compelled to ask: what sets this blockchain project apart from the cacophony of flashy contenders? And how does it manage to weave a narrative of trust and authenticity in a space often filled with hype?

From its innovative consensus mechanisms to robust security protocols, Aptos threatens to position itself as a front-runner in the blockchain realm. In this article, we'll delve into the team behind Aptos, its competitive edge, market value, and offer you an insightful look into the project's inner workings. 

What is Aptos?

Built as a Layer 1 (L1) blockchain, Aptos is suited for decentralized applications (dApps) and non-fungible tokens (NFTs). The main idea behind this project is to challenge existing issues within the blockchain ecosystem, such as:

  • Scalability 
  • Security
  • Reliability
  • Performance

Aptos aims to achieve such a mission through its flexible and modular architecture, which should support frequent updates and upgrades without significantly impacting users' experience. 

The ultimate goal of this project is to empower the adoption and growth of decentralized applications with the intent to solve real-word user problems, thus contending Solana as the (possible) Ethereum disruptor. To achieve that, Aptos allows developers access to a myriad of options for:

  • Key recovery
  • Smart contract standard
  • Resource usage trade-offs
  • Privacy
  • Composability

Ultimately, Aptos aims to become a driving force, allowing anyone to transact with untrusted parties safely, easily, and immutably. 

What is APT?

APT is an Aptos native token used to pay for transactions and network fees on this blockchain platform. Besides the utilization cost, its native token will be used to cover the expenses of installing, maintaining, and running nodes on the network. 

Moreover, individuals who contribute by staking a specific amount of APT will have the opportunity to become validators, actively participating in the consensus mechanism and decision-making processes of the blockchain.

Aptos token owners can select a few validators and stack their tokens with them. In return, they can receive a previously agreed-upon share of the rewards in APT. These rewards are spread across validators and stakers at the end of each epoch.

Finally, the APT tokens are not just for reaping rewards; they also have a say in decision-making. Participants who hold APT can use Aptos native tokens to vote on changes or proposals on how the system should work both on and off the blockchain. 

The History of Aptos

Aptos was created by Aptos Labs, a company founded by Mo Shaikh (CEO) and Avery Ching (CTO), also known as former Meta (ex Facebook) employees. With that in mind, it is no surprise that Aptos was recognized as the successor of the Diem blockchain, formerly known as Libra, a digital currency initiated by Meta. 

The project went online on October 12, 2022, while its main net, "Aptos Autumn," launched five days later. At the same time, the blockchain became the first to debut the Move programming language, which we'll cover in later sections.

Parallel with the Aptos Autumn, the company launched the LayerZero Aptos, a cross-chain bridging protocol allowing users to buy USDT, USDC, and Ethereum and move their cryptocurrencies into Aptos from the following networks:

  • Ethereum
  • Arbitrum
  • Polygon
  • Avalanche
  • BNB Chain
  • Optimism

 Surprisingly or not, Aptos took four months to achieve a market cap of $2.9 billion. 

Funding

Whether it's the market desire to find a more scalable solution or seeking seamless DeFi integrations, Aptos still managed to raise a substantial amount throughout its short lifespan. Hence, the project received a $200 million cash injection through the first instance, called Strategic.

In the second founding round, Series A, Aptos raised an additional $150 million through Jump Crypto, Multicoin Capital, FTX Ventures, Apollo Capital, Circle and many other contributors. 

Partnerships 

After announcing a partnership with technology giant Microsoft in August 2023, APT price surged by 15%. Aptos is no stranger to collaborating with other companies, having joined forces with numerous powerhouses such as Korean mobile giant SK Telecom, NPIXEL, Google Cloud, and MoonPay, respectively. 

Facing Challenges with Resilience

Despite early success, the startup blockchain found itself on a real rollercoaster after Los Angeles entrepreneur and CEO of Kalos Labs, Shari Glazer, sued Aptos Labs, requesting $1 billion compensation and 50% ownership of the company. However, the charges were dismissed only two months later, on December 8, 2022. 

On October 19, 2023, just a few days before its first birthday, Aptos experienced a major outage, leaving users without the possibility of completing their transactions. The team behind the blockchain resolved the issue only five hours later. 

How does Aptos Work?

Aptos utilizes Move, a programming language designed for creating safe smart contracts. It was originally developed by, guess who, Facebook engineers to power the Diem blockchain. Move allows using Block-STM, a technology for processing smart contracts, which can achieve up to 170,000 transactions per second in Aptos benchmarks. 

Another key advantage of Aptos lies in the way it executes smart contracts. Most blockchain networks handle self-executing agreements sequentially (one after another) or through parallel workloads (simultaneously). 

This way, they're able to enhance the performance of smart contracts, but at the cost of significant power consumption. Also, the problem typically occurs if a single transaction fails, as it disrupts the entire chain, which can be detrimental to one's experience. 

Aptos challenges this issue by processing all transactions concurrently and by validating each transaction subsequently. In other words, it processes all transactions at the same time, and then it checks if they are valid afterward. This prevents the transaction process and executing smart contracts from getting stuck if one transaction fails. 

As a result, it makes handling self-executing agreements more efficient and avoids problems if something goes wrong. 

That being said, one logical question arises – What happens with failed transactions? Here lies another crucial role of STM (Software Transactional Memory), which re-executes aborted transactions, thus resolving any conflicts within the network. 

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How is it that Aptos Validates Transactions? 

Aptos blockchain has a group of validators who work together to handle transactions. Validators use two consensus mechanisms to agree on things:

  • Byzantine Fault Tolerance (BFT)
  • Proof of stake (PoS)

As mentioned previously token owners can "stake" their assets with a chosen validator. The more tokens a contributor locks up, the more "say" they have in the Aptos ecosystem's decision making process. 

The blockchain recognizes two types of validators:

  • Active – Contributors who take part in making decisions
  • Inactive – Users that don't have enough tokens are temporarily offline or not performing according to the rules. 

Every community member is allowed to check the transaction history and request information from a validator. Full nodes keep all transaction records and a copy of the current state of the blockchain, while light clients keep track of the current validator and are able to securely check only part of the blockchain. 

A good example of light clients would be a free crypto wallet, which is used to manage tokens and interact with the blockchain.

Current APT Price and Chart

If you're interested in obtaining APT, it's good to know CEX.IO gives you immediate insight into Aptos’ price today. With our user-friendly platform, you can easily track the live prices of APT to USD, empowering you to make informed decisions and seize opportunities in the dynamic cryptocurrency market. 

Monitor the latest market trends and fluctuations in the Aptos token value through our dynamic chart, providing instant insights into the cryptocurrency's performance. Follow the APT price movements and make informed decisions in real-time for your investment strategies.

Market Statistics

At the time of writing, the current APT market cap hit $3.24B, placing Aptos above Optimism, Injective, Filecoin and Monero, respectively. Compared to other cryptocurrencies, Aptos holds a share of 0.19% of the total market capitalization. 

Its 24-hour trading volume (January 5, 2024) is around $1.48 billion, placing Aptos among the top 30 cryptocurrencies in daily turnover. 

APT Price History

APT historical price reveals a massive surge in value during 2023, with the APT price increasing by 182%, outperforming almost 3/4 of the top 100 crypto assets, including prominent ones like Bitcoin and Ethereum. 

Looking at the CEX.IO price chart shows the lowest APT price in 2023 was $3.70, while it reached its pinnacle at $18.42. 

Aptos token value has experienced significant price fluctuations since its inception in October 2022, hitting an all-time low of $3.08 on December 29, 2022. Conversely, the highest price paid for APT was $19.92 per token on January 26, 2023. 

APT Tokenomics

Aptos' total supply is 1.07 billion tokens, with notably high yearly supply inflation of 137.15%. This inflationary trajectory is influenced by diverse factors, encompassing token issuance and other variables.

The current APT circulating supply is 308.29 million, which is less than 1/3 of the total supply in circulation. 

It is also important to note that slightly more than half (51.02%) of the total APT supply was distributed to the community. The rest of the Aptos native tokens were allocated to:

  • Core distributors – 19%
  • Foundation – 16.50%
  • Investors – 13.48%

If you're interested in purchasing APT, you should consider the Aptos token's maximum inflation rate with an anticipated reduction to a modest 3.25%. The inflation rate will be determined by network validators, who vote to decide the quantity of APT tokens to be minted during each epoch. Follow the latest CEX.IO crypto prices and learn more about these dynamics to make well-informed decisions in the Aptos token market.

How do I Buy APT Instantly on CEX.IO?

The most straightforward way to obtain an Aptos token is to initiate an instant purchase through our website (Instant Buy) or CEX.IO App (Add funds). You can do that in a few simple steps explained below:

  • Step 1 – Visit the CEX.IO website and log in to your account. If you don't have an account yet, creating one is a quick and secure process.
  • Step 2 – Once logged in, you'll find the Buy Cryptocurrency card conveniently placed in the central banner. This user-friendly feature is designed to simplify the purchasing process for both novice and experienced traders alike.
  • Step 3 – Choose the currency you wish to use for your transaction. Whether you prefer using traditional fiat currency or another cryptocurrency, CEX.IO offers a variety of methods for users to buy & sell crypto safely.
  • Step 4 – As you explore the available cryptocurrencies, locate and select APT coin from the dropdown menu. This step is crucial, ensuring your transaction is geared explicitly towards acquiring APT.
  • Step 5 – With APT coin selected, you can initiate the transaction. Confirm your choices, review the transaction details, and proceed to make your purchase. CEX.IO provides a secure and efficient environment to ensure that your investment in APT is executed seamlessly.

Community and Social Media Links

If you wish to learn more about Aptos blockchain, you can visit Aptos Lab's official website. Here, you can find helpful information about the team behind this blockchain project and details about the Aptos Foundation. 

Furthemore, Aptos enthusiasts alike can visit the official Aptos Labs Twitter account, which serves as a real-time communication hub, providing updates on announcements, partnerships, and other important developments. 

For those looking for a deep dive into the technical aspects, it's good to know Aptos maintains an active presence on GitHub. The official Aptos GitHub repository serves as a centralized hub for developers, offering insights into the codebase, development progress, and upcoming features. 

Finally, for community-driven discussions, questions, and feedback, the Aptos forum is an invaluable resource. The official Aptos Forum serves as a platform for users to connect, share insights, and seek assistance. The forum is user-friendly and easy to navigate. You'll find several key categories like:

  • Education
  • Development
  • Projects
  • Node Operations
  • Suggestions

FAQs

What is Aptos (APT)?

Aptos is a Layer-1 blockchain developed by former Meta employees Avery Ching and Mo Shaikh. It was launched in October 2022 to tackle existing problems like scalability, security, reliability, and performance within the blockchain network. APT is the Aptos network's native token used to pay for transaction fees, initiate and execute smart contracts as well as staking to secure the network. 

Is it good to invest in Aptos?

The cryptocurrency market is dynamic, and conditions can change in a split second. A variety of factors can influence prices and market sentiment. Because of that, you should consider consulting with financial professionals or following our daily price chart before making a purchasing decision. 

Can I buy Bitcoin at CEX.IO?

Yes, you can buy Bitcoin on CEX.IO via credit and debit cards, other reputable crypto exchanges, or through bank transfers (like SWIFT or SEPA), depending on your geographical location.  

Can I receive crypto rewards at CEX.IO?

At CEX.IO, you can earn crypto rewards through staking crypto (up to 30% annual percentage) or crypto savings (up to 5% rewards). However, keep in mind these services are not available in all jurisdictions. Kindly refer to our Terms of Use for more information.

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