Hassan Maishera
On Thursday, Aptos Labs announced on X that Tria, the fastest-growing neobank in crypto, has integrated with the Aptos blockchain. Tria users can now trade across 100+ chains with Aptos’ high-speed rails underneath.
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 1.3%, trading at $0.8372 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.
