What Is Aptos, and What Must You Know About It?
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Aptos is a newly developed public proof-of-stake blockchain that was designed by an ex-employee of Facebook. This blockchain has the basic goal of providing quality throughput and impressive protection for smart contracts that are implemented using the “Move” programming language.
Aptos positions itself as a highly scalable Layer 1 blockchain system by leveraging a Byzantine Fault Tolerant (BFT) consensus mechanism and the Move language.
With its fourth version, Aptos BFT, the consensus protocol has undergone breakthroughs. The newest version provides the lowest latency and most cutting-edge features yet. Notably, Aptos BFT divides the consensus and execution procedures, leading to improved authentication and simplified data structures. Transaction execution time is significantly shortened by these changes. Aptos’ use of parallel transaction execution, which makes it exceptionally scalable, is a fundamental technical aspect.
Aptos uses parallel execution as opposed to typical blockchains, which process transactions in a serial fashion, one after the other. By taking a snapshot of the current state and processing each transaction simultaneously, this method enables several transactions to be carried out concurrently. Serial execution ensures validation of the transaction state but limits scalability by nature. By using parallel processing, Aptos overcomes this restriction and dramatically increases transaction throughput.
Who Are the Founders of the Aptos Blockchain?
The team behind the previous Meta (Facebook) Web3 project “Diem” that formed Aptos was led by Mo Shaikh, who now serves as the company’s CEO, and Avery Ching, who is currently the CTO. Because Aptos was developed by Diem developers, who spent more than three years on a good launch, the mainnet and token launches were highly anticipated. This indicates that Aptos was built on a strong foundation from the beginning.
Metrics
The Aptos token has a solid market capitalization of $1.4 billion as of the time of writing. It has also witnessed a trading volume of $166 million, which seems quite impressive for a new crypto. The number of Aptos tokens in circulation is 226 million APT, with a maximum supply of approximately 1.1 billion Aptos tokens that will ever exist. This shows that this token is still young but seems to be gaining considerable traction.
Benefits of Holding Aptos
Holding an Aptos token gives its holder access to one of the most popular blockchains out there. As mentioned above, the Aptos has great features that are potential bullish points when it comes to value. An additional selling point is the fact that its blockchain has a very solid background, going by the profile of its founders the amount of time and other resources invested in its development. Aptos has a blockchain that can effectively compete with the famous Ethereum, which, as a result, places its token on the right track to gaining value as time goes by.
Therefore, it appears that holders of this token may reap significant profits in the future, even as its blockchain gains more fame.
Technical Analysis
The APTUSDT 4-hour market reveals that its price action seems to be gaining momentum after hitting the support level at the $6.200 price mark. As a result, it appears that the mentioned support is holding quite well, as price action has been kept above it for more than five sessions now. Meanwhile, the ongoing session seems to have brought a noticeable upside correction toward the 9-day Smooth Moving Average SMA curve. At the same time, the Stochastic Relative Strength Index (RSI) indicator lines continue to rise towards level 50 of the indicator. This further agrees with the perceived upside correction on the price chart.
Future Price of Aptos
From the APTUSDT 4-hour market chart analysis, it could be assumed that in the near term, Apto’s price may rise above the $6.2484 mark. Eventually, this may give way for a further price increase toward the $6.500 price level. Nevertheless, beyond this, it could be assumed that this token has a good outlook in the long term, given its starting price point.
Conclusion
Every venture has a beginning, but how well any venture will fare can be deduced to some degree from the starting point. Considering Aptos in general, we can assume that it has a bright outlook. And this plays a key role in determining how profitable investing in it will be.
