Project Name: Aptos
Tag: $APT
Type: Layer1

Introduction

Aptos is a Layer 1 blockchain designed with core principles of scalability, security, reliability, and upgradeability. It employs a BFT consensus mechanism and parallel computing to achieve better performance.

Consensus Mechanism

Aptos uses a BFT mechanism. Diem BFT is a production-grade, low-latency Byzantine Fault Tolerance (BFT) engine developed by Aptos. This consensus protocol is a derivative of HotStuff. To improve efficiency, the BFT mechanism only requires a threshold number of nodes to participate in consensus and validation.

Unlike most other blockchains, which have a layered structure with a core group of active validators responsible for processing transactions, generating blocks, and achieving consensus, the Aptos network allows active nodes to sync states with new validator nodes (inactive validators). Aptos nodes synchronize to the latest state of the Aptos blockchain through two mechanisms: consensus or state synchronization. Validator nodes use both consensus and state synchronization to stay updated, while FullNodes use only state synchronization. For example, a validator node will call state synchronization when first coming online or restarting. Once the validator obtains the latest state of the blockchain, it will start participating in consensus and rely entirely on consensus to stay updated; FullNodes continuously rely on state synchronization to obtain and maintain the latest blocks. This consensus mechanism enhances the network’s scalability and upgradeability.

Parallel Execution

Most blockchains use serial transaction execution, where transactions are included in blocks one by one, and each transaction must wait for the previous one to complete before proceeding to the next. This method simplifies transaction state confirmation but limits scalability.
Parallel execution, on the other hand, allows multiple transactions to be executed simultaneously by taking a snapshot of the current state and processing multiple transactions at once. This approach significantly increases transaction throughput, but the challenge lies in ensuring that different transactions do not interfere with each other.
Aptos uses Block-STM to achieve parallel transaction execution. Block-STM is a technology derived from Diem that accelerates smart contract execution through parallelism, which is a core technology of Aptos. Block-STM allows new nodes to participate in state synchronization to achieve high TPS. Block-STM can be understood as a parallel execution engine for smart contracts, built around the principles of software transactional memory. Transactions are grouped into blocks, and each execution of a block must produce the same deterministic result. Block-STM further enforces that the results are consistent with executing transactions in a preset order, dynamically detecting dependencies to avoid conflicts during transaction execution.

Key Metrics

Tokenomics

APT has a total token supply of 1,000,000,000, distributed as follows:

• Community Members: 51.02%
• Core Contributors: 19.00%
• Investors: 13.48%
• Foundation: 16.0%
  Tokens allocated to investors and core contributors have a four-year lock-up period, with linear unlocking starting from the 13th month. The 510 million APT tokens designated for the community are allocated for ecosystem-related projects such as grants, incentives, and other community development programs. The Aptos Foundation holds 410 million tokens, and Aptos Labs holds 100 million tokens, which are expected to be distributed over ten years.
  

  Community & Background

• Twitter Followers: 585,700+
• Discord Members: 254,300+
  On March 15, 2022, Aptos completed a $200 million funding round led by a16z, with participation from Multicoin Capital, Katie Haun, ParaFi Capital, IRONGREY, Hashed, Variant, Tiger Global, BlockTower, FTX Ventures, Paxos, and Coinbase Ventures, among others.
  On July 25, 2022, Aptos announced the completion of a new $150 million funding round led by FTX Ventures and Jump Crypto, with other investors including Griffin Gaming Partners, Franklin Templeton, Circle Ventures, and Superscrypt, along with a16z crypto and Multicoin Capital.