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What Is Aptos?

Nov 7, 2022
4 min read

This blog post will cover:

  • About Aptos (APT)
  • Where did Aptos (APT) come from?
  • What are the advantages of Aptos (APT)?
  • What are the disadvantages of Aptos (APT)?
  • How to buy Aptos (APT)?

About Aptos (APT)

It is a layer one PoS blockchain employing an innovative language Move, which was separately produced by Meta’s Diem devs. Aptos proclaimed the start of its mainnet in October, 2022. 

Aptos team aims to bring adoption to web3 and empower an ecosystem of decentralized apps to solve users’ actual issues. The blockchain based on Proof-of-Stake could reach a theoretical transaction bandwidth of over 150 thousand TPS via parallel implementation.

Aptos main products are Wallet, Explorer and Names. Each one is utilized within the ecosystem powered by APT token. APT is used to pay both transaction and network fees. 

Where did Aptos (APT) come from?

Aptos was made by Mo Shaikh and Avery Ching, ex-employees of Meta. Mo Shaikh, the Aptos CEO, is a specialist with a rich IT experience. Avery Ching is the Aptos CTO. He was one of the lead software engineers at Meta.

Mo and Avery both worked on the Diem (Libra) project until it was canceled and then they established Aptos Labs. The rest of the team consists of great experienced devs, designers, researchers and strategists.

What are the advantages of Aptos (APT)?

  1. High transaction speed. Considering the theoretical transaction bandwidth of over 150,000 TPS, Aptos might assist the crypto adoption with simplifying the usage for average people who are just getting acquainted with cryptocurrencies.  
  2. Strong team. The project has a really solid team with specialists who have a great crypto and blockchain experience. 
  3. Token price. The cost of APT — $7.04 as for November 7, 2022 — is quite high compared to many other young crypto concepts. The all-time high is $10.25, so Aptos has all the chances to skyrocket on the market. 

What are the disadvantages of Aptos (APT)?

  1. Competition. Ethereum (ETH), Solana (SOL) and Avalanche (AVAX) have huge loyal communities and it might be tough to compete with them as these projects are the “veterans” of the crypto industry. 
  2. Security. The major priority of BFT is speed, however it is highly crucial to make blockchain secure. Aptos has enough time to work on safety characteristics and become even more competitive among hundreds of crypto projects.  

How to buy Aptos (APT)?

Decided to purchase APT after learning more about the Aptos project? Go to the SimpleSwap homepage. Follow this instruction to buy APT:

  1. Let’s assume, you plan to exchange BTC for APT. Select the crypto you wish to exchange (BTC) in the 1st drop-down list. Insert the number you want to swap.
  2. Choose APT in the 2nd drop-down list. You will see the estimated amount that you’ll receive after the swap.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. APT will be sent to this address. Be careful and make sure you use the correct address.
  5. Create the exchange.
  6. You will see the BTC deposit address. You have to transfer the necessary amount of BTC to this address to start the exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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