Aptos (APT): what it is and how it works

Important: following the alignment with Regulation (EU) 2023/1114 (MiCAR), on Young Platform Aptos (APT) is currently available for selling only: it can no longer be bought or deposited. Selling remains possible with no deadlines.

What is Aptos (APT)

Aptos is a Layer 1 blockchain born from the legacy of Diem and Libra, the protocol and stablecoin project that Meta (formerly Facebook) had developed but which never went into operation. Many members of the Aptos team come precisely from that experience and have reused some of the technologies developed there.

APT is the network’s native token: it is used to pay transaction fees, to take part in security through staking and for the blockchain’s general functioning. Aptos positions itself as a high-performance network, designed to handle a very large number of operations.

How it works: the Move language

Aptos uses a Proof of Stake consensus mechanism and is programmed in Move, a language originally created for Diem and designed to make on-chain applications more secure, reducing some types of errors and vulnerabilities typical of smart contracts.

The project’s stated aim is to simplify the use of decentralised applications even for non-technical users. Aptos also claims a very high theoretical transactions-per-second capacity, a figure that should however be regarded as potential and not yet fully confirmed in real-world use.

Origins and funding

The Aptos Foundation was established in August 2022 by former Meta employees. Despite its young age, the project attracted great attention and significant capital from the outset.

Aptos raised about 350 million dollars across several funding rounds, with the backing of leading investors such as Andreessen Horowitz (a16z), Jump Crypto and Binance Labs.

What to consider

Like all crypto-assets, APT has had a highly volatile price trend, typical of relatively recent projects tied to evolving technological narratives.

Past performance is not a guarantee of future results.