Can Aptos Replace Solana?
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Monday marked the mainnet debut of Aptos (APT), a four-year-old tech development with a multibillion-dollar valuation. The concept for this project may be traced back to 2019, when Meta (previously Facebook) was working on its own blockchain initiative called Libra (later known as Diem stablecoin). But because to pressure from government officials and criticism from the cryptocurrency communities, the international technology giant gave up on the idea. The usefulness of parallel execution, a technique for advancing the transaction order and combination process swiftly, is then predicted by a few ex-Meta employees.
Test results show that Aptos completed 130,000 transactions per second, compared to Ethereum's 30 transactions per second. Decentralized apps (dApps) can be created on the Layer 1 proof-of-stake blockchain known as Aptos utilizing the Move virtual machine and programming language (MoveVM). It is important to note that the Move underscores how important access control and scarcity are to the growth of the Aptos ecosystem. Another upcoming project, Sui blockchain, also uses Move.
Due to its well-known endeavor to develop the ideal blockchain for smart contracts, the code that supports the booming NFT, DAO, and DeFi industries, many people believe Aptos might potentially become the "Solana killer." Although after the Merge Ethereum made significant improvements in transaction speeds, rivals like Solana and Aptos may become the new market leaders in this dynamic cryptocurrency landscape.
A Bloomberg report states that Aptos is worth up to $4 billion. It may be essential for Aptos to fall short of such a high valuation in order to achieve its stated goal of strengthening its position in the Web3 market. The winner of the transactional "game" is whoever can do the task most quickly and efficiently. Another possible Ethereum substitute in the Rust computer language family, besides Solana, is Aptos. Please feel free to read the whitepaper if you want to learn more about Aptos.
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