KuCoin Aptos AMA Series — The Next Generation of Blockchain

Dear KuCoin Users,

Time : 12:00 PM - 13:46 PM, October 20th, 2022 (UTC)

KuCoin hosted an Aptos educational AMA Session With Richard Nasr, KuCoin Cooperative Analyst, in the KuCoin Exchange 2nd Group.

Guest:

Richard Nasr, KuCoin Cooperative Analyst

Richard Nasr, a veteran trader with 10+ years' experience of hedge funds & forex, is also an early investor of crypto since 2017. He has mentored 400+ professional traders worldwide. Besides trading, he is a top analyst with 40k followers on Trading view and a columnist for several top crypto media. Richard has invested in many potential projects with unique vision and obtained stunning returns.

Introduction

Richard: APTOS also known as Aptos Labs, is a web3 startup focused on building a scalable layer-1 blockchain. Layer 1 means stands alone, and it is the foundation of its own ecosystem. Aptos is safer, faster and more scalable than other blockchains today.

Q: Why should we pay attention to Aptos?

Richard: Here is why.

Investors - Aptos Funding

Aptos has been securing a decent amount of funding from big crypto institutions despite the bear market. In July, the company raised $150 million in a Series A financing round led by Sam Bankman-Fried FTX Ventures and Jump Crypto.

Earlier in March, Aptos also received $200 million in funding from a16z, Multicoin Capital, and Tiger Global, among many other VCs / venture capitals. Moreover, Binance Labs has also doubled down on Aptos, bringing up the blockchain startup’s valuation up to a massive $4 billion, according to Bloomberg.

These are the same companies that invested early on in Solana. Solana only raised 25 million before launch, while Aptos raised 350 million.

Q: Will Aptos become the next Solana?

Richard: Being backed by Binance Labs is a good sign. In fact, Yi He, co-founder of Binance and the head of Binance Labs, chose to invest in Aptos because of the Move programming language. Aptos is using to build its blockchain.

Check Aptos team.

Aptos was founded by Mo Shaikh (CEO) and Avery Ching (CTO) who are former engineers from META, who are the original creators, designers and builders of Diem blockchain.

Their team consists of a group of PhDs, researchers, engineers and designers. Moreover, the team at Aptos has been actively hiring, most notably they have acquired several former Solana staff such as Austin Virts, former Head of Marketing at Solana.

Q: What makes Aptos unique?

Richard: Aptos' focus is to create a blockchain that advances the decentralization movement, without sacrificing reliability, safety and usability. Shaikh and Ching felt these problems held back global blockchain adoption, from the average individual to the largest enterprises in the world. That’s why they re-assembled the blockchain Diem that was first built to serve this purpose.

Aptos uses the MOVE programming language which was originally built for Diem which has a number of features that prevent the most common and dangerous types of hacks.

Let's dig more into it.

MOVE Language - Block-STM

Key Features of Aptos Blockchain

Aptos utilizes key elements of the former Diem blockchain and Move, a programming language independently developed by Meta. The company also claims the network will be able to process over 120k transactions per second using its parallel execution engine (Block-STM), which results in low transaction costs for users.

Time to finality: Aptos is among the fastest blockchains measured in both transaction per second and time to finality.

As you can see the speed differences in the upper image. Aptos has the highest speed on Blockchain.

Q: How does Aptos achieve these speeds?

Richard: Aptos decoupled the consensus mechanism from the execution pipeline. This means that transactions can be organized almost like an assembly line, with consensus and execution occurring separately and optimized for simultaneous speed.

If we compare it to other blockchains, we can see that most blockchains either execute smart contracts sequentially or require a massive parallel workload for improved performance, which requires a lot of power. Aptos differs from other blockchains because a single failed transaction will not hold up the entire chain. Instead, all transactions are processed simultaneously and validated afterwards. The ones that failed are aborted and re-executed, thanks to their STM (software transactional memory) libraries which detect and manage conflicts. So this is how MOVE Language can make faster transactions.

Q: What is the tokenomics of Aptos?

Richard: According to Aptos Explorer, its total supply is over 1 billion and more than 800 million of the tokens are actively staked, suggesting that early investors, private buyers, and the Aptos team collectively control 80% of the token supply.

But that doesn't mean that they will dump the token on you like many Influencers are claiming.

Because as per Aptos tokenomics, tokens held by private investors and current core contributors are subject to one to four-year lockup schedule from the mainnet launch.

There are rewards for holders who stake their tokens to contribute to the network’s upkeep. Currently, the maximum reward rate starts at 7% annually.

Q: How about Aptos Ecosystem?

Richard: Now let's check Aptos Ecosystem.

Aptos is home for a lot of projects, and many of these projects shifted from SOL and ETH to Aptos

The latest update of the Aptos ecosystem.

Here are some interesting projects:

Vial: Defi

Topaz: NFT

Martian: Wallet

Aptos Name Service: Tools and Infrastructure.

Anyway, that's another topic for next week where we will go over a couple of interesting projects on Aptos blockchain.

In brief, Aptos offers unique and promising features that cannot be found in other layer-1 protocols (except for Sui which is also a Diem-based blockchain).

Aptos has the potential to compete with Ethereum and Solana in terms of scalability and overall network capacity. Especially with Move technology as it is a revolution programming foundation for blockchain scalability and security.

Notice: KuCoin does not provide financial advice. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology.

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