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Aptos
$5.3136
3.91%
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About Aptos
Aptos (APT) is a scalable layer 1 blockchain token built with Move programming language. It serves various purposes within the Aptos project, which includes Move as a smart contract language, parallel processing execution for efficiency, and AptosBFT consensus for network effectiveness. The total token supply is 1 billion, with a circulating supply of 130 million. APT is used for network fees, validator staking, and on-chain governance. Aptos Labs, led by Mo Shaikh and Avery Ching, developed Aptos in 2021, drawing from their experience with Meta's Diem blockchain project.
Aptos (APT) is a scalable layer 1 blockchain token based on the Move programming language. The token is the native token of the Aptos project, serving a variety of use cases within the network.
The Aptos project consists of several major components:
- Move: Aptos uses Move, a smart contract programming language that was originally developed at Meta to power the Diem blockchain. Move focuses on safety and flexibility, making it a central component of the Aptos project.
- Parallel Processing Execution: Aptos employs a parallel data model and execution engine to improve execution efficiency.
- AptosBFT Consensus: Aptos uses a variant of the Byzantine fault tolerance consensus mechanism, enhancing the overall efficiency of the network.
The APT token is primarily used for:
- Network Fees: APT is used to pay for transaction fees on the network.
- Validator Staking: APT is staked by validators to participate in the DPoS network consensus.
- Governance: APT token holders can participate in on-chain community governance, contributing to the direction and development of the Aptos project.
Aptos Labs, led by Mo Shaikh and Avery Ching in 2021, is the organization that developed the Aptos blockchain and the APT token. Both Shaikh and Ching have prior experience with Meta's blockchain project, Diem.