Understanding Aptos Network: A Deep Dive into a Game-Changing Blockchain

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Aptos Network is a pioneering Layer 1 Proof-of-Stake (PoS) blockchain, characterized by its utilization of the innovative Move smart contract programming language. Move, a Rust-based language developed by Meta (formerly Facebook’s) Diem blockchain engineers.

Aptos envisions a transformative role as a blockchain, facilitating mainstream adoption in the web3 landscape. Its core mission revolves around empowering a dynamic ecosystem of Decentralized Applications (DApps) to address tangible real-world challenges.

Distinguishing Features of Aptos

Transaction Throughput: Aptos boasts an impressive theoretical transaction throughput of more than 150,000 transactions per second (tps), made possible through parallel execution.

Funding Milestones: Aptos’s journey has been marked by significant funding rounds. In March 2022, a seed round led by Andreessen Horowitz (a16z) secured $200 million in investment. Notable players like Tiger Global and Multicoin Capital joined the funding pool. Subsequently, a Series A round in July 2022, spearheaded by Sam Bankman-Fried’s FTX Ventures and Jump Crypto, garnered an additional $150 million.

Strategic Collaborations: Binance Labs, a prominent figure in the crypto space, extended a strategic investment to Aptos, bolstering its valuation to $4 billion by September 2022.

Mainnet Launch: On October 18, 2022, Aptos signaled a significant milestone with the launch of its mainnet. The genesis of Aptos transpired on October 12, 2022.

Securing the Aptos Network

Aptos ensures its network’s security through a dual consensus protocol framework: Proof-of-Stake and AptosBFT. AptosBFT, akin to DiemBFT, operates as a customized consensus algorithm rooted in the HotStuff protocol. This algorithm guarantees operational continuity even when network participants become offline or engage in malicious behavior. AptosBFT autonomously adjusts leader rotations to accommodate non-responsive validators, eliminating the need for manual intervention.

Vital Metrics and Price Analysis

At present, Aptos is trading at $6.58, with a 24-hour trading volume of $118,742,699. Over the last 24 hours, Aptos has witnessed a decline of 6.36%. The coin holds the #34 ranking on CoinMarketCap, boasting a market capitalization of $1,479,443,716. The circulating supply encompasses 225,458,968 APT coins.

Where Can You Buy Aptos?

For those considering acquiring Aptos at the current rate, prominent cryptocurrency exchanges include Binance, OKX, WEEX, Bybit, and LBank. Additional options are on CoinMarketCap’s dedicated crypto exchanges page.

Aptos Price Analysis (4-hour chart)

The 4-hour chart for APTUSD depicts lateral movement, indicative of a consolidation phase. The Parabolic SAR dots positioned both above and below the daily candles reinforce this pattern. Furthermore, the Relative Strength Index (RSI) has maintained stability since July, signifying a balanced state without veering into overbought or oversold territory. A breakout will be instrumental in delineating the market’s direction.

 

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