Aptos is a Layer 1 Proof-of-Stake (PoS) blockchain that employs a novel smart contract programming language called Move, a Rust-based programming language that was independently developed by Meta (formerly Facebook)’s Diem blockchain engineers.
Aptos’s vision is a blockchain that brings mainstream adoption to web3 and empowers an ecosystem of DApps to solve real-world user problems.
The PoS blockchain can achieve a theoretical transaction throughput of over 150,000 transactions per second (tps) through parallel execution.
In March 2022, Aptos raised $200 million in a seed round led by the venture capital firm Andreessen Horowitz (a16z). Other crypto heavyweights like Tiger Global and Multicoin Capital took part in the funding round. Fast forward to July, the startup raised another $200 million in a Series A round with participation from Dragonfly, Apollo Global, Franklin Templeton, Animoca, Jump Crypto and others.
Two months later, Binance Labs made a strategic investment of an undisclosed amount in Aptos.
On Oct. 18, 2022, Aptos announced the mainnet launch, while the Aptos genesis occurred on Oct. 12, 2022.
## Who Are the Founders of Aptos?
Aptos is the brainchild of Mo Shaikh and Avery Ching, both former employees of Meta. Mo, who is the current CEO of the company, is a founder with years of multinational financial services and blockchain/crypto experience. According to his LinkedIn profile, he specializes in scaling products and has experience in the private equity and venture capital markets.
Ching, on the other hand, is the CTO of Aptos. He is a software engineer and was one of the principal software engineers at Meta.
The duo worked together on the Diem blockchain project at Meta. Shaikh and Ching decided to join forces to create Aptos Labs when the Diem project was discontinued in January 2022. It, therefore, comes as no surprise that Aptos employs some of the technicalities of Diem.
Other members of the Aptos team include researchers, designers, and engineers from Diem.
## What Makes Aptos Unique?
For a start, the Aptos team claims that its network can process over 150,000 tps. By comparison, Ethereum’s mainnet tps is around 12 to 15.
This high transaction throughput is possible through a parallel execution engine (Block-STM) — a byzantine fault-tolerant (BFT) PoS consensus mechanism. For context, most blockchains execute transactions sequentially, which means that a single failed transaction or high demand on the network could hold up the entire chain.
In the case of Aptos, all transactions are processed simultaneously and validated afterward. Failed transactions are either re-executed or aborted, thanks to the blockchain’s software transactional memory libraries, which spot and manage conflicts.
Aptos is built using Move, a new smart contract programming language that claims to offer advantages to Solidity, the EVM-based programming language. This includes blockchain commands that can be easily verified, modification of private key and modular design of Aptos.
New use cases can be realized through Aptos’ upgradeability and configurability, while horizontal throughput scalability — through the natively-implemented sharding feature — provides a better user experience.
Aptos is a Layer 1 PoS blockchain that utilizes a novel smart contract programming language called Move. Aptos aims to bring blockchain into the mainstream through web3 and empower a range of DApps to solve real user problems. This PoS blockchain achieves theoretical throughput of over 150,000 transactions per second through parallel execution. Additionally, Aptos is built using Move, which is claimed to have advantages over Solidity (an EVM-based programming language), including blockchain commands that are easy to verify, key modification, and Aptos' modular design. With Aptos' scalability and configurability, new use cases can be realized, and horizontal throughput scalability is achieved through locally implemented sharding, providing a better user experience.
How to Buy APT
1. How to Buy APT on Exchanges
Step 1: Choose a reputable exchange platform
Select a trustworthy platform from numerous exchanges to make your purchase. Some trusted platforms include Coinbase, Binance, OKX, among others.
Step 2: Register an account
Create an account on the chosen exchange platform. You may need to provide personal information (such as phone number, email) to complete the registration process.
Step 3: Complete identity verification
For security reasons, some platforms may require you to undergo identity verification. Follow the platform's instructions, providing necessary identity information (such as country/ID number) and undergo facial recognition if prompted. Once your identity is confirmed, you'll receive notification.
Step 4: Link your bank or payment method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing APT.
Step 5: Purchase APT
Find the option to buy coins on the exchange platform, select the C2C buying process, then input the amount of cryptocurrency you wish to purchase. Typically, you'll choose to buy USDT first and then proceed with the purchase method. Simply place your order, make payment to the seller, and you'll receive the cryptocurrency. Once the payment is completed, you can use your exchange assets to buy APT.
Step 6: Store your APT
After purchase, you can choose to store APT in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Tips
To protect your exchange account and APT assets, it's essential to use strong passwords and enable two-factor authentication.
2. How to Buy APT via Over-the-Counter (OTC) Trading
Over-the-counter (OTC) APT trading occurs directly between buyers and sellers, bypassing exchanges or other intermediaries. Here are the general steps for OTC APT trading:
Step 1: Find an OTC trading channel
Start by finding a reliable OTC trading platform or service provider. These platforms typically offer online marketplaces or ways to connect with brokers for trading.
Step 2: Register an account
Sign up for an account on the chosen OTC trading platform. You may need to provide some personal information (phone/email) to complete the registration process.
Step 3: Complete identity verification
For security purposes, some platforms may require you to undergo identity verification. Follow the platform's instructions to provide necessary identity information (nationality/ID) and undergo facial recognition or other verification steps.
Step 4: Browse the trading list
After logging into your account, browse through the platform's trading list to find APT trades that interest you. You can choose trades based on the trader's reputation rating, trade volume, price, and payment methods.
Step 5: Select a trading partner
Once you find a suitable trade, click to enter the trading page and carefully review the trader's terms and conditions. Ensure you understand and agree to the trader's requirements, such as trade amount, payment method, trade time, etc.
Step 6: Negotiate trade details
After reaching an agreement with the trader, you can negotiate trade details such as trade amount, payment method, trade time, and location.
Step 7: Make payment
According to the agreement reached with the trader, use the chosen payment method to pay the APT purchase amount to the seller.
Step 8: Confirm receipt
Once the trader confirms receiving your payment, they will release APT to the APT address you provided. You can check your APT wallet balance after the trade to confirm its success.
3. How to Buy APT through Decentralized Exchanges (DEX)
Buying APT on decentralized exchanges (DEX) differs from purchasing other cryptocurrencies on centralized exchanges. Here are the general steps for buying APT on DEX:
Step 1: Choose a APT-supporting wallet
Create a new wallet supporting APT assets, then select a decentralized exchange that supports APT.
Step 2: Connect your wallet
Before using the DEX, you need to connect a wallet supporting the APT blockchain. You can connect your wallet to the selected DEX via browser extension or mobile application.
Step 3: Deposit funds
In your wallet, select deposit and choose the asset you want to deposit (such as stablecoins). Follow the wallet prompts to complete the deposit process.
Step 4: Find the trading pair
Search or browse for the APT trading pair on the DEX. Typically, you can find a search box or a list of trading pairs on the exchange's homepage or trading interface.
Step 5: Place an order
Once you find the APT trading pair, you can choose between market or limit orders and input the quantity you want to purchase. Ensure you input the correct price and quantity in the order, then confirm the order.
Step 6: Wait for the trade to execute
Your order will be submitted to the APT blockchain and wait for confirmation and execution by miners. Once the order is executed, you will receive the purchased APT, which you can view in your wallet balance.
Step 7: Withdraw funds
After completing the trade, you can choose to withdraw the purchased APT to your wallet for safer storage of your digital assets.
4. Official Channels for APT Project Team or Community
Sometimes, the APT project team or community may launch official channels for direct APT purchases. This may include private placements, presales, or other forms of direct sales.