Aptos: New Layer 1 Crypto Solving Solana and Ethereum Constraints

In Brief

• Aptos is a new new layer 1 protocol that aims to outshine Solana and Ethereum.
• The APT team has raised $350 million from venture capitalists.
• To date, the network has gained over 20,000 node validators on the Aptos testnet.

Aptos, a new layer-1 network, is preparing to launch later this year. It boasts technical abilities that solve some of the constraints of Ethereum and the frequent downtime on Solana.

The new Aptos network was built using a unique Rust programming language. MOVE solves some of the problems with Ethereum. These include the scalability trilemma and the fact that Ethereum cannot perform parallel processing.

Aptos Parallel Processing
Parallel processing is essential for faster transactions, but EVM can only process transactions sequentially. These issues also affect Layer 2 on Ethereum, which is part of the reason the mainnet cannot scale without sharding.

However, Solana is a parallel processing blockchain which is why it performs a high number of transactions. But the downtime on the network is a major issue.

With the Aptos blockchain, all these constraints will be absent since the network processes about 160,000 TPS. By utilizing a parallel execution engine (Block-STM), Aptos aims to ensure lower transaction fees.

Parallel processing ensures that all transactions are performed simultaneously and validated afterward. Any failed transactions do not affect the entire chain. In fact, failed transactions are aborted and re-executed due to the STM (software transactional memory) libraries.

Rising Interest in Aptos Labs and its Layer 1 Blockchain
Already, interest in the Aptos is very high, with 20,000 validator nodes on the testnet. That’s more than 10 times the number of validators on the Solana mainnet.

The interest is understandable due to the enormous development of the network for about three years. More than 350 developers worldwide are working on the Aptos blockchain.

Besides its high scalability and reliability, the Aptos network also has another layer of security. All assets can be handled separately on-chain thanks to its programming language.

This means copying or dropping an asset after it has been created is impossible. As a result, common attacks on Ethereum, such as re-entrancy, cannot happen on the network.

The rising interest in the Aptos blockchain means that it will launch at a higher valuation than most Layer 1s. This is not only because of the hype around it but also the funding from venture capitalists.

Meta employers from the failed Diem project founded Aptos Labs. It has already raised $350 million in funding from some of the top venture capitalists in the crypto market. These include Andreessen Horowitz, FTX ventures, Jump Crypto, OAK HC, Coinbase, Tiger Global, Binance Labs, and many more.

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