Stay Tune with MEXC Global - the First Exchange Lists Aptos (APT)
On Monday, Aptos, a four-year technology initiative valued at several billion dollars, made its mainnet launch. 2019 saw the first emergence of the concept for this project as Meta (previously Facebook) was creating its own blockchain project called Libra (later known as Diem stablecoin). In spite of this, the multinational technology giant dropped the idea in response to concerns from cryptocurrency organizations and pressure from government officials. The transaction order and combination process is thus swiftly advanced thanks to parallel execution, which a few former Meta personnel view as having value.
According to test results, Aptos processed 130,000 transactions per second as opposed to 30 for Ethereum. On the Layer 1 proof-of-stake blockchain known as Aptos, decentralized applications (dApps) can be built using the Move virtual machine and programming language (MoveVM). It is significant to notice that the Move emphasizes how crucial scarcity and access restriction are to the expansion of the Aptos ecosystem. Move is also used by the future Sui blockchain project.
Many people think Aptos might eventually replace Solana because of its well-known effort to create the ultimate blockchain for smart contracts, the software that underpins the expanding NFT, DAO, and DeFi businesses. Although Ethereum significantly increased transaction speeds following the Merge, rivals like Solana and Aptos might overtake Ethereum as the new market leaders in this changing cryptocurrency ecosystem.
According to a Bloomberg article, Aptos might be worth $4 billion. To fulfill its stated objective of enhancing its position in the Web3 industry, Aptos may need to fall short of such a high valuation. Whoever completes the work in the transactional "game" the fastest and most effectively wins. Apart from Solana, another potential Ethereum replacement in the Rust family of programming languages is Aptos. If you want to understand more about Aptos, feel free to read their whitepaper.