Aptos
Aptos is a Layer 1 blockchain and smart contract platform with a modular structure designed for scalability, high throughput, and low latency. This approach is intended to allow for additional flexibility and upgradeability, with the ultimate goal of bringing mainstream adoption to web3.
APT is the native token.
Background
Aptos was created by Mo Shaikh and Avery Ching who previously worked together on the Meta Diem blockchain project. Shaikh and Ching created Aptos Labs when the project was discontinued.
Launch
On Oct. 18, 2022, Aptos announced the mainnet launch, while the Aptos genesis occurred on Oct. 12, 2022.
How does it work?
Aptos employs the Move programming language, which claims to allow for faster and more secure transactions, providing additional protection for smart contracts against potential bad actors. Aptos uses two consensus protocols – Proof-of-Stake (PoS) and AptosBFT (Aptos Byzantine-Fault-Tolerant). AptosBFT is a custom-made consensus algorithm based on the HotStuff protocol. In the PoS model, network participants may stake their APT tokens into a validator, thus earning rewards for helping to process transactions, mint new blocks, and bolster the network.
Smart contract audit
Sources and resources
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