This article takes a closer look at Aptos, one of the most scalable blockchain technologies in the cryptocurrency industry competing as an alternative to Ethereum.
This project is particularly interesting because it uses a unique programming language and advanced on-chain architecture.
The governance token APT itself is also a fundamental resource in the crypto market, with a market capitalization of over $5 billion.
Let’s take a closer look at everything below.
Salient features of Aptos blockchain technology
Aptos, launched in October 2022 by Avery Ching and Mo Shaikh, is a next-generation blockchain technology focused on scalability and reliability of cryptographic transactions.
The network is designed as a competitor to Ethereum, supporting smart contracts and being able to sustain high request throughput in short periods of time.
It defines itself as the world’s largest production-ready blockchain, with metrics that are the envy of even the most structured networks.
At its peak, it reached 13.3K TPS, with over 4.7 million monthly active users and 1.8 billion transactions since its launch on mainnet.
Aptos has 400 blockchain nodes and 148 validator nodes.
Source: https://aptosfoundation.org/
The network integrates a Proof-of-Stake consensus mechanism that leverages the economic commitment of native resources APT for internal security.
This architecture is simultaneously coupled with the BFT consensus protocol to collectively process validators’ transactions.
Furthermore, it integrates a parallel execution engine called Block-STM, which enables simultaneous operation of multiple requests on the blockchain.
Remember, Aptos was built using the smart programming language Move, which originates from the Diem (ex Libra) project.
Its structure is ideal for distributing smart contracts and exploring technologies related to the bull and bear world of Web3.
Since its founding, Aptos has raised $350 million in VC funding led by Coinbase Ventures, FTX Ventures, and FTX Ventures.
Blockchain use cases and benefits
Aptos’ advanced technology provides numerous use cases in the virtual world and offers many advantages compared to other blockchains in this space.
First of all, thanks to its scalability, Aptos’ crypto network has proven to be the perfect environment for the gaming world, where fast and fluid interaction experiences are required.
On the NFT front, the chain offers maximum creative freedom in designing successful collections, as in the case of Bruh Bears and MAVRIK NFTs.
In the social realm, on-chain apps like Chingari ensure complete control over an individual’s social footprint.
Moving on to DeFi, once again the Aptos blockchain is emerging as an ideal place to launch decentralized applications and smart contracts.
To understand the potential of this technology, consider that Mastercard is building identity verification tools on its network.
The goal of electronic payment providers is to ensure blockchain interoperability and security in order to ride the future trend of decentralized finance.
1/ The future of identity is Web3 – and Aptos Labs is partnering with Web3 @mastercard Make that future a reality with Mastercard Crypto Credential, an on-chain identity and verification framework with a variety of payments, remittance, ticketing, and NFT applications. pic.twitter.com/4vUwylialQ
— Aptos Labs (@AptosLabs) April 28, 2023
Regarding the advantages of the Aptos network on a technical level, we highlight low latency, high throughput, and low charges to users.
This type of blockchain has transaction validation times of less than one second, making it ideal for developers looking for speed and efficiency.
The idea is that Aptos allows you to mint 1 million NFTs in 90 seconds.
Additional benefits include unprecedented security provided by Move Prover, a formal verification tool. This verifies the operation of Aptos smart contracts written on the blockchain and prevents cyber incidents.
Finally, let’s not forget the improvements introduced by the Aptos trademark integration of PoS, BF, and Block-STM.
Thanks to these innovations, consensus can be reached reliably even if some verifications are unreliable.
On-chain analysis of the Aptos network
A look at Aptos’ on-chain data reveals that this technology is increasingly being used intensively by users in the blockchain industry.
Since its launch at the end of 2022, the network has more or less consistently increased the number of active addresses in the network.
This metric has seen a real boom in recent weeks, reaching a new ATH of over 550,000 units of active addresses.
At the beginning of this year, there were only 80,000 active addresses on the blockchain, representing a year-to-date growth of 687%.
We want to highlight that the number of new entities starting to interact with Aptos for the first time has also increased since January.
This is likely due to the airdrop incentives implemented by this project and the presence of a particularly attractive technology full of speculative opportunities.
Another very interesting data point that reflects the health of the Aptos blockchain concerns trends in network fees.
After the April upgrade with Move V1.3, transaction load was reduced and network charges were reduced by approximately 90%.
In a few days, the average rate dropped from 0.0075 APT to 0.00067 APT.
This last value was equivalent to less than 1 dollar cent, and in the following months it decreased further, reaching 0.00015 APT today.
Therefore, the use of Aptos technology is considered very economical, safe and efficient.
It is clear that the increase in user base shown in the aforementioned indicators is also a result of this background of economic convenience.
Crypto APT (Aptos) Analysis and Prediction
APT is the fundamental technical resource underlying the Aptos blockchain.
Cryptocurrencies act as gas and governance tokens for the network, reflecting dual utility in addition to speculative functions.
Currently, APT is valued at approximately $10 per unit. It has a market capitalization of $5.22 billion, making it one of the top coins in the bullish currency sector.
According to CoinMarketCap rankings, it occupies 22nd place, ahead of Uniswap’s UNI and behind Litecoin’s LTC.
The FDV for this project is equivalent to $11.35 billion, with just over twice the circulating supply still to be released.
APT is listed on major cryptocurrency exchanges and is supported by names such as Binance, Coinbase, Bybit, Okx, kraken, and Bitfinex. For DEX, the most liquid market is on the PancakeSwap portal.
Aptos token has faced various roller coasters throughout its history, including price spikes and spikes.
After a strong rally at the beginning of the year, it hit an all-time high of $19.90 in January 2023. Just seven months later it was trading for a quarter of its price, showing the frenzy and manipulation in the trade.
In March 2024, following the hype in the cryptocurrency market, the cryptocurrency market returned to near its highs, but then repeated the same decline as the previous year.
We are currently about halfway between the all-time high and the all-time low in terms of neutrality from excess.
However, the price is up about 70% compared to a month ago, suggesting strong market interest from blockchain for this resource.
Clearly, expectations are very high for the Aptos cryptocurrency in the next bull market, with targets up to above $20.
