What is Aptos (APT)?

Aptos is a layer-1 blockchain network with APT as its native token. Both the platform and Aptos Lab were developed by ex-Meta employees, Mohammad Shaikh and Avery Ching. Aptos seeks to promote the widespread adoption of web3 by furnishing a scalable, upgradeable, and dependable blockchain ecosystem for creating and launching DApps. The central focus of Aptos revolves around the development of DApps designed to tackle real-world issues commonly encountered by web3 users. To support these dApps, Aptos uses a strategic combination of two consensus protocols- AptosBFT (A custom-made Byzantine Fault Tolerance algorithm) and PoS (Proof-of-stake) consensus. This approach makes Aptos efficient in processing over 150,000 TPS.

When launched on October 12, 2022. The initial supply of its native APT token was 1 billion. This token can be fractioned by up to 8 digits, and its smallest unit is called Octa. The initial distribution of APT tokens is as follows- Aptos community (51.02%), core contributors (19%), Aptos foundation (16.50%), and investors (13.48%). Notably, the Aptos Foundation and Aptos Labs hold the community-owned APT tokens in an 80:20 proportion. These institutions will use that amount to support and drive the growth of the Aptos community by distributing 1/120 of them every month to various members of the Aptos community in the next 10-year period. The holders of APT tokens can use them to pay network gas fees, participate in staking programs, and become network validators.

How does Aptos (APT) work?

Aptos is a Proof-of-Stake (PoS) blockchain that employs a custom-made Byzantine Fault Tolerance (AptosBFT) consensus mechanism. This system works through a set of validators who receive, process, and validate transactions. Anyone can become a validator for Aptos by staking its APT tokens. The APT holding of a validator shares a direct relation with their voting weightage in the Aptos consensus. With that voting weightage, the validators can vote in the governance decisions related to the blockchain. The AptosBFT component means that the Aptos system can function even with some nodes failing or proving trustless.

Apart from Validators, the Aptos network also needs clients to work efficiently. These clients are nothing but a set of two types of node clients- Full node and Light node clients. While full node clients are required to keep an entire copy of the Aptos transaction ledger, the light client node only keeps a recent copy of the same. The former maintains the blockchain state by working with validators, and the latter only maintains the current set of validators.

When anyone initiates a transaction in the Aptos blockchain, the Aptos submits their request to the full node client for initial checks. If the transaction contains some obvious error, the full node will reject it even before sending it to validators. In case the transaction request passes the initial checks set by the client nodes, the full nodes forward it to the mempool (the waiting room for pending transactions) of validators.

At the mempool, the transaction is assigned to a validator node. Once the selected validator node validates the transaction, it presents the transaction block to other validator nodes who come to an agreement based on the consensus. Once they come to an agreement, the transaction gets executed, and its entry is saved in the blockchain.

But what gives Aptos the high transaction processing speed of 1,50,000 is its parallel transaction execution engine, Block-STM. It handles multiple transactions simultaneously in the Aptos blockchain to give a high throughput compared to other chains. Either a transaction gets executed or becomes unsuccessful depending on its initial legitimacy check. If the transaction becomes unsuccessful, the network aborts it and then re-executes it in the conflict library of the system. Such a system makes transaction processing quicker in Aptos because a single failed transaction does not clog the whole chain. The validators execute transactions concurrently and validate them post-execution. Thus, Aptos processes transactions, executes them, and then validates them later.

To strengthen its security and flexibility, Aptos uses Move, a Smart contract programming language. This language was created for Meta’s project, but now blockchains use it for various purposes. This programming language offers developers more control over their data and customizability.

How to Buy Aptos (APT) in India?

There are many platforms where you can invest and trade Aptos (APT) in India.

One such platform is Flitpay. To buy Aptos (APT) in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Aptos (APT) and execute the Aptos (APT) purchase.

You can instantly convert your INR to Aptos (APT) and Aptos (APT) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying Aptos (APT)?

Aptos (APT) crypto can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the Aptos (APT) till it reaches a high price, and then you can sell it through the FLITPAY Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

In case you are interested in utilizing the Aptos network for developing or deploying dApps and other decentralized projects, then you can use APT tokens to pay transaction fees. Moreover, APT token holders can also participate in the staking programs and consensus protocols of the Aptos network.

Why Use Aptos (APT)?

Aptos (APT) offers a compelling blockchain solution with its unique consensus mechanism, programming language, and other features. Developed by ex-Meta employees, Aptos aims to drive web3 adoption by providing a scalable and reliable ecosystem for DApps. It employs a combination of AptosBFT and PoS consensus, enabling it to process over 150,000 TPS efficiently. With an initial token supply of 1 billion, APT tokens can serve multiple purposes, from paying network gas fees to staking and network validation.

The system's parallel transaction execution engine, Block-STM, ensures rapid transaction processing. Additionally, its Move Smart contract programming language enhances security and flexibility. These attributes make Aptos a compelling choice for developers and users seeking a high-performance blockchain solution for web3 applications.

FAQs

What is Aptos (APT)?

Aptos (APT) is the native token of the Aptos blockchain that works to provide an efficient and scalable blockchain ecosystem for dApps focussing on real-life applications. The holders of APT tokens can use them to pay the platform fees, exchange values, and participate in the consensus of the network.

What is the Aptos (APT) price in India?

Check out the INR price of Aptos crypto in India today on Flitpay.

Which is the best platform to buy Aptos (APT) in India?

The best platform to buy Aptos or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

How to buy Aptos crypto in India?

You can easily buy Aptos (APT) in India on the safest crypto exchanges like Flitpay, with the lowest fees.

To buy Aptos coin in India:

1. Register on Flitpay and create an account.
2. Verify your identity through Know-your-customer (KYC).
3. Add INR or Fiat currency, corresponding to the amount of Aptos (APT) you want to buy.
4. Instantly buy APT tokens with the deposited funds.

What are the benefits of the Aptos (APT)?

Aptos (APT) presents a versatile blockchain ecosystem, primed for scalability, upgradability, and reliability, tailored for the creation and launch of dApps. Its user-centric approach includes the adoption of Move, a developer-friendly Smart contract programming language, enhancing the overall user experience. With its innovative fusion of Byzantine Fault Tolerance (BFT) and Proof-of-Stake (PoS) consensus mechanisms, Aptos boasts an impressive transaction throughput of 150,000 transactions per second (TPS), solidifying its position as a high-performance blockchain solution.

Is it safe to invest in Aptos (APT) in India?

There are no rules in India that make crypto trading illegal. Even the Reserve Bank of India has informed banks that they can not warn people trading in cryptocurrency. Hence, it can be said that it is safe to buy Aptos crypto in India.

Is Aptos (APT) a Good Investment?

Aptos (APT) presents an enticing investment opportunity within the blockchain space. It offers a robust ecosystem for dApps, with Move as a developer-friendly language. The combination of AptosBFT and PoS consensus ensures a remarkable transaction throughput of 150,000 TPS, enhancing its potential for widespread adoption. However, as with any investment in the crypto market, it's important to consider the inherent volatility and risks. Careful evaluation and risk management are advisable when considering Aptos as an investment.