Aptos Is Here, Will It Be The “Solana Killer” Many Tout It As?

The Layer 1 solution built by Meta alums is VC-backed and touts novel transaction-ordering algorithm

Aptos hopes to be the “safest and most scalable layer 1 blockchain” and has launched its mainnet yesterday. The platform has been in development for four years and features ex-Meta talent as the developers. The platform is currently already at a $1billion valuation with FTX promising to offer the token APT for sale this Wednesday.

The blockchain was able to gain ground after garnering a lot of attention with various VCs. A $200 million initial strategic round was closed with players like Andreessen Horowitz joining. Another $150 million was collected in a round led by FTX. The constant influx of funds by major companies and big name VCs has led some to believe that Aptos was the way to go in the future. There have been a few projects called the killer of Solana, Bitgert was another but currently has not made any real moves against the blockchain, Aptos is poised to do what the other blockchains couldn’t.

 

The “Solana Killer”

The token and blockchain have been dubbed a “Solana Killer” by many as the latest offering is an attempt to build the perfect blockchain for smart contracts. The platform will create support for NFTs,DAOs,DeFi, Web3, and the metaverse.

Solana has been known for its amazing speed when it comes to transactions allowing the blockchain to outperform many of its competitors. Solana has had some success but real growth has been cut short by the amount of outages the platform has seen since the latter part of 2021 ongoing.  Speaking of transactions it has been stated that Aptos has the ability to handle 130,000 transactions per second, this trumps the top 65,000 done by Solana and completely tramples on Ethereum’s 35.

Aptos comes from two ex-Meta employees that saw value in part of Facebook’s failed Libra-turned-Diem blockchain project. The project had a key differentiator known as parallel execution which was a method of ordering and combining transitions to rapidly accelerate processes. The platform also uses the move programming language prioritizing scarcity and control.

Issues

The launch of Aptos was not as smooth as hoped however. There seemed to be a few issues with the launch of Aptos, the transaction speeds being less than promised.

The Aptos team stated in their Discord that the transaction speed shown was not a complete representation of the blockchain’s ability as the mainnet was only hours old.

There are of course those that believe in the blockchain and chose to be positive about all aspects of the launch. Blockchain engineer and venture lead Siddhanjay Godre was one of those people praising the parallel execution model of the blockchain.

There is also speculation that the introduction of Aptos and a future blockchain named Sui will begin a type of war with only one survivor.

There is no reason to think that a war of such could be an issue but it will be good to see how each community deals with issues that are brought before them in the future.

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