In previous blog articles, we’ve covered a broad view of cryptocurrency and offered a closer look at Bitcoin, Ethereum and several other altcoins.
👀 In this article, we’ll take a closer look at the cryptocurrency and platform that’s generating a lot of buzz – Aptos, and provide information on what it is and how it works. Here is our brief guide to get you on a clearer path to understanding.
🌰 APTOS IN A NUTSHELL
👉Aptos, also known as Aptos Labs, is a venture capital-backed web3 startup focused on building a fast and scalable layer-one Proof-of-Stake (PoS) blockchain.
💰 The APT token is the native token of the Aptos platform. The APT token is used to pay for transaction and network fees on Aptos.
📜 APTOS HISTORY
👥 Aptos Labs was co-founded by Mo Shaikh (CEO) and Avery Ching (CTO), both former Meta Platforms Inc. (formerly known as Facebook) employees with years of experience as a senior developer and engineer in the blockchain industry.
Aptos’ diverse team consists of a battle-hardened group of PhDs, researchers, engineers, designers and strategists. They are the original creators, designers, builders and developers who formerly worked on Diem, Meta’s blockchain initiative that was abandoned in early 2022. This gave the project a solid foundation to build its product set.
Aptos Labs officially launched its mainnet “Aptos Autumn” in October 2022, making it the first blockchain to debut Move programming (explained below).
Also in October 2022, the Aptos Bridge went live, powered by LayerZero, a trustless omnichain interoperability protocol. With this deployment, users can move stablecoins USDC, USDT, as well as Ethereum into Aptos from the Ethereum network, Arbitrum, Optimism, Avalanche, Polygon, and Binance Smart Chain.
📈 In its short history, the project has received considerable funding💰 from numerous crypto heavyweights. This was apparent when Bloomberg recently assessed the blockchain startup’s valuation at USD$4 billion.
Aptos recently announced a partnership with NPIXEL, a Korean Triple-A gaming studio, to create METAPIXEL, a Web3 gaming ecosystem. Other partnerships have been formed with Google Cloud and MoonPay (via Aptos’ Petra wallet).
⚙️ APTOS BLOCKCHAIN FEATURES
Due to its history with Meta, Aptos has the advantage of being able to utilize key elements of the former Diem blockchain. It operates via Move, a Rust-based programming language independently developed by Meta. Move lets users define custom resources that can’t be copied or discarded, making it much more difficult for malicious entities to control the Aptos blockchain.
Aptos Labs claims its network will be able to process up to 160,000 transactions per second (TPS) using a parallel execution engine known as Block-STM. This high bandwidth, speed and scalability will result in lower transaction fees for its users, as well as high level security features.
Aptos enables DeFi projects to be built on its blockchain. So far, there are over 30 DeFi projects on the ecosystem. These projects include decentralized exchanges, lending protocols and liquid staking. Aptos also aims to improve the process of NFT minting.
📊 APTOS TOKENOMICS
The finite supply of Aptos totals just over 1 billion APT. Currently, the circulating supply of APT is approximately 162 million. The current market capitalization of Aptos is approximately USD$2.14 billion.
💲 APTOS PRICE
When Aptos initially launched in late 2022, it reached an early price peak of USD$10.05 before downward momentum saw its value drop to a range between USD$3.24 and USD$5.29. By early 2023, the APT value rose dramatically and reached an all time high price of $USD19.61 in January. APT’s value has remained somewhat steady since then and currently sits in a range between USD$11.70 and USD$16.37.
👉 EARNING APTOS WITH BLOOM
📲The Bloom shopper rewards app allows you to earn Aptos and other crypto (like Bitcoin, Ethereum and a range of other altcoins) with every purchase made on your Visa card 💳.
🦉 All you need to do is download the Bloom app, register an account, link your Visa card and shop anywhere using your credit or debit card.
💰 With every purchase, you will earn Bloom Coins by simply using your Visa card💳. The more you use your card, the more Bloom Coins you will earn.
🎁 Bloom Coins can be redeemed for in-app rewards and converted into APT.
🆓 Converting crypto on Bloom, such as APT, is free of charge and has no gas fees!
💎 Earn exclusive 3x Bloom Coin rewards with a Premium Membership.
The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Bloom does not recommend that any cryptocurrency or NFTs should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.