Should You Invest in Aptos Crypto? Is Aptos Worth It?

By CoinUnited.io Research Team

28 Jan 2023

2 min read

For starters, let's find out who's behind this blockchain. Aptos was formed in 2021 by a team of former Meta workers who had been in charge of Meta's Diem blockchain project. The Aptos blockchain is a fork of the Diem blockchain project and makes use of the same Move programming language. Aptos attracted the attention of respected VCs who believed in their vision thanks to their highly experienced team of blockchain researchers and designers that shared a same goal of creating the most secure and scalable Layer 1 blockchain. Aptos further distinguished itself from other Layer 1 blockchains in the crypto sector by proposing a design that integrates Block-STM technology, the Move programming language, and BFT consensus. In March of 2022, Aptos raised $200 million from investors such Andreessen Horowitz (also known as "a16z"), Coinbase Ventures, FTX Ventures, Kathryn (Katie) Haun, and Multicoin Capital.

Just one month after unveiling its testnet to developers, Aptos has amassed a total of 20,000 fully operational nodes. Its first incentive testnet phase went live in May 2022, and it has already attracted over 30,000 participants eager to help verify the network's security. Now, according to Aptos, its blockchain can handle up to 160,000 transactions per second (TPS). For comparison, even the fastest transaction, Solana, processes transactions at a rate of just 3,000 TPS. Given this rapid growth, it's not surprising that Aptos was able to swiftly secure $150 million in July from new and existing venture capital firms including FTX Ventures, Jump Crypto, a16z, Apollo, Circle Ventures, Franklin Templeton, and Griffin Gaming Partners.

On October 12, 2022, Aptos' mainnet became live. The Aptos Names Service and the Petra Wallet were both introduced at this time. Later, it became possible for users to mint their own NFTs by setting up their own minting sites, in addition to creating their own NFT collections and launching their own NFT projects.

An Aptos developer found that the Aptos blockchain was optimal for NFT minting. The Aptos official blog article states that the devnet blockchain can create millions of NFTs in under an hour.

The Aptos Names Service (ANS) was released alongside the Aptos mainnet, enabling users to shorten their wallet addresses from lengthy alphanumeric sequences into human-friendly.apt domains. This aligns with Aptos' mission to simplify and democratize blockchain technology. Users can establish an own web3 identity and use their own names when conducting business. There is now a one-year leasing time (with possible increases) to register your name, after which you have the moment to renew. The goal of this is to offer people an opportunity to register the names they like while also encouraging them to become more involved with the blockchain.

In the Aptos ecosystem, the recommended wallet is Petra Wallet. You may add it as an extension to Google Chrome and then use it to enter the Aptos ecosystem. You may send and receive money, check your transaction history, make new NFTs, and peruse the available decentralized apps (DApps). As of right now, Petra Wallet is still in its early stages as a beta, so its features are rather restricted. However, the Aptos team is working on a complete release.

Aptos is tasked with reducing dynamic NFT pricing by a factor of ten by optimizing its operations on NFT data by the beginning of January 2023. The goal for the first quarter of 2023 is to build gas-efficient data structures and to launch an innovative gas model with demand-based gas pricing.

Aptos delayed the distribution of a tokenomics overview until October 17, 2022, when it was eventually made available to the public. A total of 1 billion Aptos tokens were created at the outset, with 41.02% controlled by the Aptos Foundation and 10% by Aptos Labs, 19% going to the project's key contributors, 16.50% to the Aptos Foundation, and 13.48% going to investors. On the other hand, 125 million APT tokens are available to back community expansion efforts, and another 5 million are available to support Aptos Foundation endeavors. After the mainnet is live for the thirteenth month, they will begin unlocking in stages (November 2023). Staking one's APT tokens with a validator operator is one way for APT token holders to receive passive revenue while helping to secure the network. The maximum rate of reward is initially set at 7% per year and will be reviewed at the end of each epoch. Aptos estimates that it will take at least 50 years for the rate to drop to 3.25% each year, although it will decrease by 1.5% per year until it reaches that level.

These forecasts may seem upbeat, but keep in mind that the value of any cryptocurrency, including Aptos, can change dramatically at any given moment. Even if Aptos doesn't look ideal as a long-term investment, you may always try shorting it.

Along with Binance and OKX, CoinUnited.io is one of the earliest trading platforms to support Aptos through its spot trading platform. On October 19, 2022 at 1:00AM UTC, the APT/USDT spot pair became available on the CoinUnited.io Spot Trading platform. Beginning at 12:00 PM UTC on October 18, 2022, users may deposit APT, and on October 20, 2022, users could start withdrawing APT beginning at 1:00 AM UTC. Then you may get USDT using the CoinUnited.io P2P Trading Platform or the One-Click Buy. Now that you have some USDT, you may head over to the APT/USDT Spot Trading website.

Aptos's novel design and short performance on its testnet make it look like a promising investment, at least in the near term. The Aptos development team has an excellent reputation, which helps the project's overall legitimacy. After all is said and done, it seems like a good crypto to add to your investing portfolio.

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