Aptos has been making a lot of waves recently. Even though this cryptocurrency backed by such venture capitalists as Andreessen Horowitz, Circle Ventures, and Multicoin Capital is still in its development stage, it is expected to have a major impact on the crypto market in the future.
What Is Aptos?
Aptos is a layer-1 blockchain built with the Move programming language. The increased scalability, security, reliability, and usability are the distinctive features of the Aptos network. Low transaction costs are another feature that makes the network attractive for users and developers.
The Aptos network is based on the Diem blockchain (initially developed by Meta but abandoned). The programming language used for blockchain development was also created for Diem.
Aptos Labs is the team that is working on the Aptos project. Together with co-founders Mo Shaikh and Avery Ching, the team members are working on developing a new-generation blockchain that would accelerate crypto mass adoption.
Shaikh specializes in scaling products and investments, and Ching was one of the main engineers. They both met when they worked for Meta and decided to pick up the Diem blockchain to make it a fully functional product.
Aptoc Blockchain Specifics
The Aptos blockchain is a network of a new generation. Supposedly, it can handle over 160,000 transactions per second without compromising network security and reliability. Among the most distinctive features of Aptos, the following are worth attention.
Block-STM technology
Block-STM technology creates an engine for handling smart contracts effectively. The engine relies on parallel execution to enable simultaneous handling of multiple smart contracts. Transactions are processed concurrently so that a single failed transaction cannot halt the process. All transactions are validated post-execution.
Move, a custom programming language
Move is a custom programming language developed to create the Diem blockchain. When the blockchain was abandoned, the initiative was picked up by the Aptos creators.
The storage of Move is more secure than that of the majority of existing languages, and the language is flexible enough to cover all the needs of the Aptos team.
This language allows developers to define resources that cannot be modified or discarded thus making it more difficult for cyber criminals to access and control the Aptos resources and blockchain.
BFT consensus protocol
Aptos combines two consensus processes to reduce blockchain latency and increase the speed of transaction confirmations. To ensure top accuracy, the Aptos team developed the Byzantine Fault Tolerant (BFT) engine that analyses individual states on-chain and updates validators automatically.
Aptos can boast a very active community, a knowledgeable team, and access to unique engines. These details, along with the support of the major VC investors, helped Aptos to peak up after its launch and to stay ahead of the newest trends.
Where to Buy and Swap APT
APT is a popular crypto asset, and as such, it is supported by the majority of exchanges such as Binance, Coinbase, KuCoin, and Kraken, among others. LetsExchange allows its users to buy and sell APT for more than 3,900 coins and tokens, at the best rates, without mandatory account registration. If you wish though, you can register an account. It gives you access to additional features such as viewing the history of transactions, the list of favorite coins and pairs, among others, and the affiliate program offered by the platform.
The swapping process is done within a couple of clicks. All stages are performed automatically. The platform offers non-custodial services which means that it doesn’t collect nor store your funds.
To buy the asset, you need to have a wallet where you are going to store it, some crypto that you will use for the purchase, and that’s it. Move to the exchange widget and follow the intuitive process of swapping. After your coins are sent to your wallet, you can download a receipt with all the transaction details.
Swapping with LetsExchange is easy and fast, and the best rates are picked for each swap.
Where to Store APT
Aptos can be stored in TrustWallet, Martian wallet, Petra wallet, Fletch wallet, Pontem wallet, and some other popular wallets. Not all wallets support APT. This is why, before starting to swap your coins, make sure that the wallet you use has APT in the list of supported coins.
Bottom Line
The Aptos network is a very promising project. It has access to unique technologies and resources, and it has selected the best talent to work on its development. The APT is expected to grow in the long term, and the coin is going to boost its impact in the crypto space.