There’s a new kid on the block, and it’s called Aptos. Dubbed as the “Solana Killer” by many cryptocurrency enthusiasts and traders, today we are going to find out if it’s just buzzwords or if Aptos really has something to offer with our Aptos Review.
What is Aptos?
Aptos is a Layer 1 blockchain that promises high-class reliability, security, scalability, and usability by taking advantage of the Move programming language (Rust-based) originally created for Meta’s abandoned blockchain, Diem.
The APTOS Coin ($APT) was released on 19/10/22 on multiple major exchanges and spiked temporarily at 100$ on Binance, coming down to 6$ a few minutes after.
The new L1 blockchain has been trending for a while now due to three reasons.
- Aptos Received over $350 Million in investments from well-known crypto and traditional funds.
- Aptos is based on the Diem Blockchain (Meta) that was abandoned in January and has the same developers with the original vision.
- Aptos technology differs from the rest of blockchains, with all transactions being processed simultaneously and validated afterward. The failed ones are aborted and executed again using the STM (Software Transactional Memory).
Aptos Transactions Per Second.
While the blockchain is still at the testnet version, Aptos can process 160,000 transactions per second (TPS) while maintaining security and reliability. This is a record number that all blockchains combined up until today can’t reach. Nevertheless, it’s an impressive performance.
Block-STM Technology
The Aptos blockchain uses Block-STM technology to create a parallel execution engine that can efficiently handle smart contracts and execute multiple transactions at once.
Whereas in other blockchains, a failed transaction will hold back the entire network, in Aptos, transactions are processed concurrently and validated post-execution. This results in the execution of 160,000 transactions per second.
Block-STM offers the following advantages:
- No need to commit transactions individually.
- VM provides safety for optimistic memory access.
- Pre-defined order reduces synchronization.
The BFT Protocol
Aptos has developed the Byzantine fault tolerant (BFT) engine that analyzes individual states on-chain and then updates validators in an automated way. Thanks to BFT, Aptos reduces latency and increases the speed of the network. BFT works differently from regular consensus protocols found on other blockchains by allowing two processes to run parallel.
Aptos NFTs
In fact, Aptos is not prioritizing NFTs, though its developer discovered that the blockchain has the ability to support NFT minting and is very effective at handling NFTs. The “parallel execution” technique is one of the main reasons.
Aptos blockchain has the power to quickly speed up a user’s ability to fund new accounts and mint NFTs. Together with the Aptos’ TypeScript SDK, users can easily write scripts for NFT minting. Additionally, Aptos might create its own NFTs in the future.
The Aptos Development Team.
As mentioned in the Aptos Review earlier, the Aptos Core team originates from Diem Blockchain, and Aptos Lab is the development company.
The two Aptos co-founders are Mo Shaikh and Avery Ching.
- Mo Shaikh specializes in product scaling with experience in venture capital markets and private equity.
- Avery Ching was a principal software engineer at Meta.
Both met at Diem, and when the project was abandoned, they decided to work together and develop Aptos.
VC investments in Aptos.
Even though Aptos was announced earlier this year, it has received a ton of investments from several venture capital groups, including a16z crypto, Hashed, FTX Ventures, Coinbase Ventures, Binance, and others. The total investments exceed $350 million from multiple rounds of funding.
It’s a no-brainer why Aptos has received so many investments. The founders’ experience and reputation with the product’s unique architecture, impressive performance, and Facebook-related background are enough to make the world’s biggest capitals invest.
Aptos vs. Solana
Some consider Solana as the main competitor of the Aptos blockchain. Both blockchains have high transaction speeds, but Aptos seems more trustworthy because it adds redundancy to its network compared to Solana, meaning it is less likely to fail.
The Aptos blockchain has each block synced with leader nodes and nearby nodes, meaning anytime the node fails, one of the other nodes takes over, resulting in a more reliable network in exchange for higher hardware requirements.
Aptos vs. Ethereum
The speed of Atos, in comparison with Ethereum, is evident. Ethereum runs one CPU core, while Aptos on 16! However, the trustworthiness of Ethereum is undeniably the prime one. If you put these blockchains side by side, you would see that Aptos is faster and cheaper, but Ethereum is stronger and more secure, with its performance practically impossible to disrupt.
Aptos vs. Avalanche
When it comes to TPS, Avalanche is slower than Aptos. Avalanche handles around 4,500 per subnet, while Aptos can handle around 130,000 to 160,000 TPS. The performance on both blockchains is spectacular. However, Aptos excels in usability. The gas fees are another reason users might pick Aptos rather than Avalanche.
Is Aptos reliable?
Well, the answer to this question might differ from person to person. The right answer is that we don’t know yet. Aptos is still in the early stages of development, and we don’t know for sure what the future holds.
The “Parallel Execution” technique that reduces the fees and enables faster transactions might come at the cost of security. Things are complicated, but Aptos seems to have solved this problem. The execute first, ask question later policy. By saying that, we mean Aptos will put the successful transactions in history and re-execute the failed ones.
Aptos Review: Final Thoughts.
Aptos is a project to look out for. While the testnet is working and can deliver what it promises, everything is possible in the world of blockchain. Aptos still has a long way to go to prove itself as a reliable L1 Blockchain. Development on Aptos will probably spike; the Aptos Grant Program is also available. Keep an eye out and make sure to research the project.
Thank you for reading our Aptos Review.