• Aptos (APT), a layer 1 proof-of-stake blockchain developed by ex-Meta staff that supports smart contracts and decentralized applications, has seen its token surge 343.76% in the last 30 days.
• The surge comes after a tumultuous start and two rounds of financing, with the company raising $350m in 2022 from a16z, Tiger Global, and Multicoin Capital.
• The Aptos blockchain uses a Rust-based programming language that can process more than 130,000 transactions per second, using a process called sharding.
Aptos (APT), the layer 1 proof-of-stake blockchain developed by ex-Meta staff that supports smart contracts and decentralized applications, has seen its token surge to new all-time highs in the last 30 days. This surge comes after a tumultuous start and two rounds of financing, with the company raising $350m in 2022 from a16z, Tiger Global, and Multicoin Capital, among others.
At the start, the coin was criticized for its tokenomics, but it has now become one of the hottest tokens in the market, especially amid renewed interest in layer 1 (L1) blockchains. L1 blockchains refer to the base-level chains that compose a given network, allowing for an ecosystem of other potential applications to be built on top of it.
Aptos is unique in that it uses a Rust-based programming language that, according to its whitepaper, can process more than 130,000 transactions per second, using a process called sharding. The process of sharding is used to split a database into multiple smaller pieces, which makes it easier for transactions to be processed and stored.
The Aptos blockchain also has a consensus algorithm known as „Proof of Stake“, in which users stake their coins to ensure that the network remains secure and functioning properly. Additionally, the blockchain supports smart contracts, which are computer programs that execute certain tasks automatically when certain conditions are met.
In July, the company raised $150 million in a Series A financing round led by Sam Bankman-Fried’s FTX Ventures and Jump Crypto. The funds are being used to help build out the infrastructure of the Aptos blockchain, as well as to expand its team and operations.
In conclusion, Aptos (APT) has been one of the biggest winners this January, with the token surging more than 343.76% in the last 30 days. The surge comes after a tumultuous start and two rounds of financing, with the company raising $350m in 2022 from a16z, Tiger Global, and Multicoin Capital. The Aptos blockchain uses a Rust-based programming language that can process more than 130,000 transactions per second, using a process called sharding. Moreover, the blockchain has a consensus algorithm known as „Proof of Stake“ and supports smart contracts. With the funds from the Series A financing round, the Aptos team is working to build out the infrastructure of the Aptos blockchain, as well as to expand its team and operations.