Exchange Aptos (APT)

Aptos is a Layer-1 blockchain network that works on solving the issues currently faced by decentralized systems. This blockchain network is focused on processing speed and handles transaction broadcasting, block data ordering, and data storage in parallel to save time. 

The project promises to be the safest and most scalable Layer-1 blockchain. It aims to become one of the leading projects in the new Web3 world, competing with the other flagman blockchains to become a perfect Layer-1 solution for all with proper decentralization, a high level of security, and scalability through stability, fast transactions, and low fees. Aptos was designed to achieve high scalability. It claims to process over 150000 transactions per second, which is possible thanks to the parallel execution engine - a Byzantine fault-tolerant PoS consensus mechanism. 

Aptos was founded by a team of former Meta (previously Facebook) employees, including Mo Shaikh and Avery Ching, who before the launch of Aptos were planning to create a project that would serve the crypto community and focus on the user experience. So the idea of Aptos is to combine new innovative solutions with the optimized existing ones. 

The development of the project started in 2018 with the team working on the codebase and building extra facilities to ensure a successful launch of the blockchain capable of satisfying the needs of the enterprises. The team has raised about $350 million in funding from serious venturing firms, such as Andreesen Horowitz and FTX Ventures. The project benefited from its connection with Meta through the attention it got from the community. 

The Aptos blockchain was launched on the Mainnet on October 17, 2022, but the project was already well-known in the crypto space at that time thanks to its active social media campaign. The launch of Aptos went with some issues, such as the TPS lower than one of Bitcoin (7 instead of promised 160000) and the tokenomics that didn’t satisfy a big part of community members, though the team promised to fix those problems.

Aptos blockchain employs a flexible programming language (Move), modified data sharding technology, consensus mechanism, and state machine to achieve a scalable, fast and secure system. The language was specially created by the Diem team from Rust and used by Aptos developers. It has special abilities in protocol and algorithm development just like Etherereum’s Solidity, the core of Aptos blockchain was designed to be the core of the platform. 

Aptos’ state machine is the Move Virtual Machine (MVM), which is also similar to Ethereum Virtual machine. It connects Move modules to bytecodes that can be understood by the Aptos blockchain. The modules turn the Aptos blockchain into an automated vending machine as they can free-run transactions, which is only possible when the private key holder sanctions the permission request. Aptos also handles data with a speed-oriented approach that utilizes memory.

The Aptos blockchain runs the Proof-of-Stake Consensus mechanism, where validators verify the integrity of data blocks added to the blockchain. It also shifts the paradigm in a special way. There are two types of nodes: full nodes and light nodes, with both of them participating in data block validation and contributing to keeping the chain stable while keeping the network stable. 

Full nodes perform intense computing tasks, while light nodes play a maintenance role, keep the system in check, and therefore perform lighter tasks. Light nodes perform easier and lighter tasks, such as playing maintenance roles and keeping the system in check. For a young project, the Aptos network already attracted rather a big number of projects that are willing to build on it. 

To secure the use of smart contracts the Aptos blockchain has a special built-in auditing system, that runs checks on move modules. The project has its own cross-chain bridge, which allows transferring Ethereum, USDC, and USDT from Ethereum, BNB Chain, Polygon, Avalanche, and Optimism to Aptos. 

APT is the native token of the project. It has an initial supply of 1 billion and at the time of writing, its circulating supply is 130 million APT. Around 80% are held by the Aptos Foundation and the remaining by Aptos Labs. The tokens are allocated to support the community's growth. The tokens that were not used will be unlocked monthly over the next ten years. The token can be staked and also used for governance. 

Average Fees on Aptos Blockchain

Fees on Aptos are paid in APT tokens. The network uses dynamic prices for storage operations. The Aptos Foundation also sets a minimal gas fee. So the users pay (gas price)*(max gas amount). 

The trading price though might vary depending on the platform. 

APT Token Wallets 

Thanks to the hype around it the APT token can be held in the majority of the crypto wallets, such as Trust Wallet, Petra Wallet, Pontem Wallet, ONTO Wallet, Spika Wallet, Hive Wallet, the OKX wallet, etc.