Three of the giants crypto trades in the world are supporting the launch of an exceptionally anticipated digital asset project. A crypto project less popular than Pi Network may go live before the end of this year.
Coinbase, FTX, Binance and other crypto trades have reported support for Aptos (APT), another layer 1 blockchain headed by developers Co-founder Mo Shaikh and Avery Ching from Aptos Labs.
The Aptos chain utilizes programming language initially made for Diem, tech giant Meta’s old crypto project that was at last abandoned. Aptos centers around Diem’s unique objective of making a fast and versatile blockchain.
While Aptos originally aimed to power up to 160,000 transactions per second (TPS) on its network, rivaling Solana’s speed, the chain is currently recording 4 TPS at time of writing.
According to Aptos, the blockchain on day one is working “as expected.”
Day one update:
Today has been exciting. Thank you for all the support!
The Aptos network has been performing as expected and will see increased activity as ecosystem projects onboard and get going.
— Aptos (@Aptos) October 18, 2022
The day before launch, Aptos released the tokenomics of the project, revealing that at time of mainnet launch on October 12th, there were 1 billion tokens in circulation.
Coinbase said that trading for APT/USD will be rolled out on the platform in phases, once sufficient supply of the altcoin has been established.
Of the existing APT, 51% were allocated to the community, 19% to the core contributors, 16.5% to the Aptos Foundation and 13.48% to the seed investors. APT held by private investors are subject to a one year lockup, and the entire circulating supply will be released over the next decade.
In case you are not aware
- Aptos is a proposed Layer 1 blockchain that uses the Move programming language. The cryptocurrency promises users increased scalability, reliability, security and usability.
- Aptos is still in the very early stages of planning. It hasn’t generated any Aptos coins yet or published an official white paper. However, crypto experts are already beginning to discuss the Aptos blockchain, and it’s raised millions of dollars from investors. Aptos will be a Layer 1 blockchain built with a Rust-based programming language called Move.
