Aptos: An Overview

Aptos: An Overview

July 01, 2024

Overview

Aptos is a scalable proof-of-stake blockchain launched in October 2022, using the Move programming language. It aims for high transaction speeds with Block-STM for parallel processing, reaching up to 160,000 TPS. As of July 1, 2024, Aptos has a TVL of $354 million, a market cap of $3.1 billion, and integrates Chainlink for enhanced dApp development and data access.

3 min. read

3 min. read

3 min. read

What is Aptos?

Aptos is a scalable layer-1 proof-of-stake blockchain created in October 2022, utilizing the Move programming language for improved scalability, usability, and security.


How Does Aptos Work?

Aptos is a blockchain designed for fast transaction processing. It uses the Move programming language and a system called Block-STM to handle many transactions in parallel, aiming for a theoretical speed of up to 160,000 transactions per second. Aptos has a current TPS of 10 and has reached 7,400 in the past. The network employs Proof of Stake (PoS) and Byzantine Fault Tolerance (BFT) for its consensus mechanism. Validators work together to confirm transactions, with BFT ensuring the system can function correctly even if some validators act maliciously or fail. This parallel processing, PoS, and BFT combination helps Aptos achieve high speed, security, and reliability. 

Important Key Metrics (as of July 1, 2024)

  • Total Value Locked (TVL): $354m

  • Total Circulating Market Cap: $3.1bn

  • Token Max Supply: 1.1bn $APT

  • Token Circulating Supply: 452m $APT

Latest News

In May, Aptos integrated Chainlink's Cross-Chain Interoperability Protocol (CCIP) and data feeds as part of Chainlink’s SCALE program. Chainlink connects blockchain networks with external data sources, enabling information flow between on-chain and off-chain systems (See our separate article on Chainlink). The integration aims to improve dApp development on Aptos by enabling more advanced features and better data access. 

Disclaimer: The information provided in this research paper is for educational and informational purposes only. It does not constitute financial advice, investment guidance, or any solicitation to buy or sell financial instruments. The views expressed herein are those of the authors and do not necessarily reflect the opinions of Kollectiv.

2024