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Aptos
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.