What is Aptos and How Does It Work?
Introduction
Layer-1 protocols, including Ethereum, Solana, BNB Smart Chain, Avalanche, and others, were being discussed since past years. The rapid emergence of non-fungible tokens (NFTs) revealed that several blockchains failed with popular adoption.
Before Ethereum’s Proof-of-Stake transition (“The Merge”), the network was crowded and had high transaction costs. This issue created the impression that only huge investors, could afford several Ethereum decentralised finance (DeFi) operations.
Despite Solana’s promotion as a high-throughput chain capable of processing thousands of transactions per second (TPS), Solana encountered its own issues. Several disruptions rendered the network unusable and raised reliability worries.
The new blockchain rival Aptos is called the “Solana Killer.” After three years, Aptos introduced its mainnet as a scalable, safe, stable, and upgradable network. It seeks to improve layer-1 protocols and create a more resilient infrastructure for decentralised apps and digital assets with its robust design.
It is a significant breakthrough in the blockchain ecosystem, providing a more efficient and reliable platform. Let’s examine Aptos’ unique position in blockchain technology.
What is Aptos?
Aptos is a layer-1, stable, scalable, and upgradeable blockchain. To lay the groundwork for Web 3.0, about 350 programmers have built it.
It received a lot of attention from history, partly because of its origins in the Diem blockchain project. The original developers of the Diem blockchain created Aptos to benefit from the developments and advantages of the Diem blockchain, which was eventually abandoned. Building on this foundation, It uses cutting-edge technology and improved scalability to make cryptocurrency accessible to anyone. It provides a more efficient and inclusive blockchain experience for all users by utilising Diem’s capabilities.
History of Aptos
Mohammad Shaikh and Avery Ching established Aptos in 2021 to create a safe, upgradeable, and scalable blockchain network for “fair access to decentralisation” for everybody.
Aptos Labs, which developed Aptos, emphasises that the initiative uses Diem blockchain technology. Aptos uses Diem’s secure and reliable programming language, Move. This foundation improves blockchain security and usefulness.
On October 12, 2022, Aptos launched its mainnet. The ability to execute smart contracts and transfer assets laid the groundwork for a scalable blockchain. The team can use it to provide scalability, but they will only implement it when network activity requires it.
Previewnet, Aptos Labs’ transaction capacity test environment, made substantial progress in December 2023. Over 30,000 transactions per second were reached on the testnet. This was done using multiple methods:
Storage Sharding: To increase transaction capacity, shard state storage into numerous “RocksDB” instances. On the mainnet in 2024, storage sharding will strive for 100,000 TPS.
Aggregators: Parallelising execution to accelerate processing.
Aptos Labs is also developing a new Aptos Move Compiler with receiver-style function calls, higher-order functions, and user-defined abilities to simplify development and planning to enhance functionality in 2024.
How does Aptos work?
Aptos uses Move smart contract programming instead of serial transaction processing. It claims to boost network transaction throughput to 160,000 transactions per second using Block-STM, a parallel execution engine.
Transaction processing at Aptos is modular, resulting in high throughput and minimal latency. Smart contract execution, consensus, parallel transaction processing, client interfaces, and validator administration are part of the modular blockchain.
The consensus mechanism uses Byzantine Fault Tolerance (BFT) and Proof of Stake (PoS), where a set of validators processes transactions and clients can download and verify validator-signed proofs.
The network has full nodes that replicate transactions and blockchain state and light clients that safely query a partial blockchain state and maintain the current validators. Modular design and consensus algorithms give Aptos flexibility, security, and dependability in transaction processing, addressing users’ changing needs.
Features of Aptos
AptosBFTv4 Consensus Protocol
The AptosBFTv4 consensus protocol cuts commit latency by 33%. This protocol streamlines transaction confirmations without complicating communication.
Consumer Confidence Protections
It offers configurable key management and transaction pre-execution. These measures boost consumer trust in the network by ensuring operations are safe and secure.
The Modular Architecture
Modular architecture lets Aptos quickly integrate new technologies. The design philosophy makes the network versatile and ready for future improvements, making it a strong platform for tomorrow.
Transactional Throughput
Due to parallel processing, Aptos has high transactional throughput. This method maximises transaction processing while minimising latency for a smooth user experience.
Strong Security Features
Advanced protocols offer high throughput and security in Aptos. For the decentralised finance (DeFi) ecosystem, these strong security measures protect against weaknesses and threats.
dApp Development Help
It provides detailed guidance and integration tools for dApp creation and maintenance. Developers may easily design, deploy, and manage dApps on the platform, encouraging innovation and growth.
Upcoming Roadmap Features
An expanding roadmap includes scalability, security, and developer experience improvements for it. These planned changes will strengthen Aptos’ position as a leading blockchain platform and fulfil the needs of a growing user base.
Pros and Cons of Aptos
Pros
Powerful Development Team
Over 350 competent developers give Aptos a solid technical foundation. This strong team improves and innovates the platform.
A Unique Consensus Mechanism
It’s BFT protocol boosts blockchain speed. This innovative method improves transaction efficiency, speeding up and providing network reliability.
Throughput transactions
It’s testnet’s speed makes cryptocurrency use easier. High throughput speeds up transaction processing, enhancing the user experience and functionality.
Cons
Security Concerns
The BFT protocol prioritises speed but needs security testing. PoW and PoS are known for their security, so BFT must be as secure as them.
Structure of Decentralisation
In theory, it is decentralised, yet the Foundation and Labs hold a lot of APT tokens. True decentralisation and control may be compromised by this token concentration.
Competition
Ethereum, Solana, and Avalanche, with large user bases, compete with Aptos. It requires a strong USP to lure programmers and users away from these existing platforms.
Conclusion
The Aptos project seeks to solve blockchain scalability. Creating a scalable, dependable, and upgradable network will increase web3 and decentralised financial access. The Move programming language makes the blockchain scalable and dependable.
BFT and proof-of-stake consensus procedures strengthen the network. The APT team is continually adding features. Web3 accessibility upgrades are now in focus. Stay tuned for the latest insights and updates on such blockchain trends.
