Hassan Maishera
On Friday, Aptos Labs announced via X that NETSTARS has entered into a Memorandum of Understanding (“MOU”) with Aptos. The two entities will collaborate toward the broader adoption of Web3‑based payments, including stablecoin payments.
NETSTARS aims to bring instant, cost-efficient, and compliance-embedded stablecoin transactions to its merchant network via Aptos.
This MOU establishes a framework for discussions and joint exploration aimed at bridging the new financial capabilities enabled by Web3 into the Web2 environment, leveraging the respective solutions and technological strengths of both companies with a view toward real‑world use cases.
Under the MoU, NETSTARS and Aptos plan to collaborate to explore applications for using NETSTARS’ payment solutions and other product offerings within Aptos’ blockchain infrastructure, ecosystem, and related markets, to deliver innovation and build new markets and product offerings based on NETSTARS’ and Aptos’ products.
Aptos is a scalable layer-1 blockchain based on the Move programming language. APT is the project's native token.
Aptos is a Layer 1 Proof-of-Stake (PoS) blockchain that employs a novel smart contract programming language called Move, a Rust-based programming language that was independently developed by Meta (formerly Facebook)’s Diem blockchain engineers.
Aptos’s vision is a blockchain that brings mainstream adoption to web3 and empowers an ecosystem of DApps to solve real-world user problems.
The PoS blockchain can achieve a theoretical transaction throughput of over 150,000 transactions per second (tps) through parallel execution.
In March 2022, Aptos raised $200 million in a seed round led by the venture capital firm Andreessen Horowitz (a16z). Other crypto heavyweights like Tiger Global and Multicoin Capital took part in the funding round.
Fast forward to July, the startup raised another $200 million in a Series A round with participation from Dragonfly, Apollo Global, Franklin Templeton, Animoca, Jump Crypto, and others.
APT is up 2.8%, trading at $1.13 per coin. For a start, the Aptos team claims that its network can process over 150,000 tps. By comparison, Ethereum’s mainnet TPS is around 12 to 15.
This high transaction throughput is possible through a parallel execution engine (Block-STM) — a byzantine fault-tolerant (BFT) PoS consensus mechanism. For context, most blockchains execute transactions sequentially, which means that a single failed transaction or high demand on the network could hold up the entire chain.
