Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Since the public chain project Aptos was officially revealed in February this year, it has continued to attract market attention due to its background from the Facebook team. With the blessing of the “star team background”, the capital side threw a high olive branch. On July 25th, Aptos has completed a new round of financing of 150 million US dollars. As of now, the total public financing amount has reached 350 million US dollars . In the silent market, Aptos and projects such as Sui and Linera have set off a wave of discussions on “Meta Layer 1” .

Aptos has obtained hundreds of millions of financing progress and enough market attention before the mainnet is launched, but it is relatively mature with the relatively mature Layer1 companies represented by BSC, Solana, Avalanche, Fantom, Near, etc. Compared with the chain, it is still in the early stage of development . CryptoJ will conduct a brief discussion on the basic situation of the Aptos project, ecological development, technological network progress, development planning and other aspects based on public information. The research content in this article is for reference only and does not constitute investment advice.

Summary of the highlights of this article, TL;DR:

  • Part 1: Introduce the basic situation of Aptos from the basic positioning of Aptos, important events in its development, time node establishment, main team background, public financing, etc.;
  • The second part: combing Aptos’ existing ecological projects and its main social media popularity with DeFi, NFT, wallet, infrastructure, Web3 and other modules as the entrance;
  • The third part: Explore Aptos’ existing network and technological progress from the aspects of Move language, state synchronization, incentive test network, parallel execution engine, BFT consensus protocol, and blockchain core stack of technology roadmap;
  • The fourth part: Discuss the potential uncertainties of Aptos’ future development from five aspects: the actual landing of the main network, the competition of the public chain track, the Meta-based competitive network, the capture of network value and the cost of learning.

1. Basic situation of Aptos

1.1 Project brief

Aptos (https://aptoslabs.com/) is a Layer 1 public chain project initiated by the former team members of the Facebook (later renamed Meta) stablecoin project Diem (formerly Libra), whose goal is to build the safest and most scalable Layer1 blockchain.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Aptos (Ohlone, which means “The People”), encapsulates its mission and ethos, which is why it is built, and the vision (https://medium.com/aptoslabs/the-aptos-vision-1028ac56676e) is a number of One billion people create universal and equitable access to decentralized assets . Web3’s stack is huge and rich, from smart contract platforms to developer infrastructure and tools, wallets and decentralized applications. Over the next few years, expect to form partnerships with ecosystem players to improve the entire space.

Aptos firmly believes that the user experience needs to be significantly improved in terms of security and scalability in order to reach the masses (especially non-crypto industry native users).

1.2 Aptos development history

To trace the development history of Aptos so far, we have to mention the predecessor Meta (former Facebook) of the team members .

  • Diem, a stablecoin project owned by Meta (formerly Facebook), was acquired by Silvergate

On January 31, 2022 , crypto infrastructure provider Silvergate issued an announcement (https://ir.silvergate.com/news/news-details/2022/Silvergate-Purchases-Blockchain-Payment-Network-Assets-from-Diem/ default.aspx) said it had acquired the technology and other assets of the Meta stablecoin project Diem (formerly Libra) to enhance its existing stablecoin infrastructure.

Under terms, Silvergate will manage reserves and issue its own “regulated and highly scalable” dollar stablecoin, which is scheduled to launch by the end of this year. Assets acquired by Silvergate include the development, deployment and operation of related infrastructure, as well as operational tools to support a blockchain payment network that facilitates commercial payments and cross-border remittances.

  • Aptos has publicly entered the market, and the founders and other team members are all from Diem

On February 24, 2022 , Aptos went to market with a blog post titled “The Genesis of Aptos” (https://medium.com/aptoslabs/the-genesis-of-aptos-ff98d86e9445) The author of this article is Mo Shaikh , the former main tribute builder of Diem, and also speaks as the co-founder and CEO of Aptos.

“We are not starting from scratch ,” Mo Shaikh points out in this blog post . “ We are the original creators, researchers, designers and builders of Diem, and the original blockchain was built for this purpose. Although the world has always Haven’t seen what we’ve built, but our work is far from over.”

“Aptos will be based in part on publicly available technology we have developed over the past three years. Aptos uses Move , a secure and reliable language originally developed for Diem  . The ideas we envisioned at the time are still relevant and will serve as a secure, scalable, A vital foundation for a scalable  Web3 . Our plans for decentralization and permissionless access are progressing rapidly and will evolve in the open.”

  • Aptos closes $200 million financing

On March 15, 2022 , Aptos  closed a $200 million financing round (https://medium.com/aptoslabs/expanding-the-aptos-community-38c5b18a84b7), led by a16z, Multicoin Capital, Katie Haun, ParaFi Capital, IRONGREY, Hashed, Variant, Tiger Global, BlockTower, FTX Ventures, Paxos, Coinbase Ventures, etc. participated in the investment.

In addition to the participating institutions announced above, according to CoinDesk (https://www.coindesk.com/business/2022/05/31/paypal-ventures-invested-in-team-reviving-diem-blockchain/), the payment giant On May 31, PayPal confirmed that its venture capital arm, PayPal Ventures, was one of the investors in Aptos’ $200 million financing round. This investment is the first Layer 1 public chain project invested by PayPal Ventures.

  • Binance Labs Announces Strategic Investment in Aptos

On March 28, 2022, Binance Labs announced (https://www.binance.com/en/blog/ecosystem/binance-labs-makes-strategic-investment-in-aptos-labs-for-the-industry-adoption -acceleration-421499824684903620) Aptos Labs, a strategic investment public chain project Aptos development team, will work closely with Aptos in development, code review, infrastructure construction and hackathons. However, the specific round and amount of this round of financing have not been publicly disclosed.

  • Aptos Launches Incentivized Testnet

On May 14, 2022, Aptos officially launched (https://medium.com/aptoslabs/announcing-the-aptos-grant-program-7654b92e22a1) to incentivize the testnet, and participating users need to use a valid Discord or GitHub account to identify Validate and deploy validators to join the testnet. Registration will end at 5:00 Beijing time on May 20, 2022, and test invitations will be issued at 3:00 Beijing time on May 24.

  • Aptos Launches Ecosystem Grant Program

On June 29, 2022, Aptos announced the launch of the (https://medium.com/aptoslabs/announcing-the-aptos-grant-program-7654b92e22a1) Ecosystem Grant Program to provide funding for teams, individuals and creators to accelerate the Aptos ecosystem develop. Grant categories include: developer tools, SDKs, libraries, documentation, guides, and tutorials; tools and frameworks for development, governance, DeFi, and NFTs; core protocol contributions: token standards, libraries, protocol upgrades, and more; open source and public products ; educational initiatives; applications. Grant funds will be distributed in U.S. dollars, with a possible option to distribute tokens in the future to help incentivize long-term ecosystem growth for all parties, Aptos said.

  • Aptos Incentive Testnet 2 Opens Registration

On July 1, 2022, Aptos announced (https://medium.com/aptoslabs/welcome-to-aptos-incentivized-testnet-2-af26e2fd69a7) Incentivized Testnet 2 registration is open, and registration closes on July 7 and ends on July 7 Notice on the 11th. The testnet will go live on July 12th and end on July 22nd. Participants taking the test should join the testnet within 24 hours of being notified.

The Aptos team will airdrop enough test coins to the selected participants, and those who complete the test will be rewarded with 500 Aptos tokens . Aptos test reward tokens are only available to non-US participants and are issued after the successful mainnet launch, with a minimum one-year lock-up period .

  • Aptos completes a new round of financing of $ 150 million

July 25, 2022 Aptos announced (https://medium.com/aptoslabs/entering-the-next-phase-of-the-aptos-journey-with-added-funding-and-new-partners-d4daa03dd17c) Completed a new round of financing of $150 million , led by FTX Ventures and Jump Crypto, and other investors including Griffin Gaming Partners, Franklin Templeton, Circle Ventures and Superscrypt, a16z crypto and Multicoin Capital, etc.

  • Mainnet is expected to be launched in autumn

Aptos stated in its official blog at the end of June (https://medium.com/aptoslabs/announcing-the-aptos-grant-program-7654b92e22a1) that teams such as Pontem Network, the Macalinao brothers, Nutrios, PayMagic, MartianDAO, Solrise and others have Write the code to prepare for the Aptos mainnet launch at the end of September.

However, in the official blog (https://medium.com/aptoslabs/aptos-incentivized-testnet-2-highlights-and-updates-ee478eace33c) update on the progress of Aptos Incentive Testnet 2 on August 1, it is pointed out that the main The network will be launched in the fall , and after the mainnet launch, testnet 4 will be launched in the winter . At the same time, the official update on the progress of Incentive Testnet 2 pointed out that in the completed Testnet 2, a total of 225 nodes participated in the test, distributed in 110 cities in 44 countries around the world. Aptos will issue Aptos token rewards to participants in Incentive Testnet 2 who meet certain conditions.

The key time points for other updates are as follows:

  • AIT3 Registration – August 19
  • Code Freeze – August 25
  • AIT3 Launch – August 30
  • AIT3 Ends – September 9th
  • Mainnet Launch – Fall
  • AIT4 – Winter

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

1.3 Team Background

Many of Aptos’ key team members come from Meta , for example, Aptos co-founders and CTOs Avery Ching and Mo Shaikh were both major builders of Diem and Novi.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

In addition, most of the developers and researchers such as Alden Hu in the development team participated in the development of Diem and Novi. Aptos team members have rich experience in large-scale development and deployment, and at the same time continue the familiar Move language, which helps to further continue and enhance the stability and security of the underlying code part of Aptos to a certain extent.

In addition to them are Alden Hu, Alin Tomescu, David Wolinsky and many other team members comprising PhDs, researchers, engineers, designers and strategists . At present, the number of team members is about 60 , and the number is still expanding. CryptoJ has compiled the profiles of some team members based on public information such as LinkedIn as follows:

  • Mo Shaikh – Founder & CEO

Mo Shaikh, founder and CEO of Aptos, was in charge of strategic partnerships at Meta from May 2020 to December 2021, and before that was the founder and CEO of Meridio from October 2017 to May 2020, Meridio is a A blockchain-based platform for investing and trading liquid fractions of real estate.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Mo Shaikh, Source: LinkedIn

  • Avery Ching – Founder & CTO

Avery Ching, Founder & CTO of Aptos, Avery Ching has worked as a chief software engineer at Facebook for more than 10 years from September 2011 to December 2021, and is the technical leader of the Novi team, the encryption platform under the original Meta, focusing on blockchain technology All aspects of the development, and also responsible for maintaining the Diem blockchain. Principal Software Engineer at Yahoo from October 2007 to September 2011.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Avery Ching, source: LinkedIn

  • Josh Lind – Founding Engineer

Josh Lind, the founding engineer of Aptos, is engaged in the research of Layer1 blockchain technology. Before that, he was a research scientist working on Diem blockchain at Novi. He completed his PhD at the Large Scale Data and Systems (LSDS) group and the Centre for Cryptocurrency Research and Engineering (IC3RE) at Imperial College London. The PhD focuses on improving the security and privacy of large-scale distributed systems using trusted hardware.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Josh Lind, Source: LinkedIn

  • Alin Tomescu – Researcher

Alin Tomescu, Aptos founding team member and researcher, was awarded an MS in Computer Science and a PhD in Philosophy by MIT, and has over six years of research experience at MIT with a focus on cryptocurrencies, public keys, authenticated data structure, secure communications, and secure web applications.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Alin Tomescu, Source: LinkedIn

  • David Wolinsky – Software Engineer

David Wolinsky, Software Engineer at Aptos, was a technical lead for Web3 at Meta, working in various organizations and teams to help develop many strategic technology and product initiatives. Prior to that, worked on the Diem blockchain for nearly two years, including designing governance and genesis procedures, establishing security infrastructure plans and principles, and defining integrations with Diem. Before joining Novi, was the technical director/manager at Facebook, responsible for Facebook’s advertising growth. Previously, he was a research scholar at Yale University.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

David Wolinsky, Source: LinkedIn

  • Alden Hu – Software Engineer

Alden Hu, software engineer at Aptos Labs, worked as a senior software engineer at Novi from February 2019 to February 2022, and previously worked for Instagram and Baidu.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Alden Hu, Source: LinkedIn

  • Rati Gelashvili – Researcher

Rati Gelashvili, Aptos founding team researcher, Ph.D. at MIT, with extensive expertise in concurrent, parallel and distributed algorithms and data structures, was a Senior Research Scientist at Novi from May 2020 to January 2022.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Rati Gelashvili, Source: LinkedIn

1.4 Financing

As of July 27, 2022, Aptos has completed a total of $350 million in financing , of which a16z (Andreessen Horowitz), FTX Ventures, and Multicoin Capital have participated in the two rounds of financing so far .

2. Development status of Aptos

2.1 Ecological development

According to Aptos’ blog post (https://medium.com/aptoslabs/announcing-the-aptos-grant-program-7654b92e22a1), its ecosystem currently has more than 100 projects built on the network, with use cases covering DeFi, NFT, games etc. From the perspective of ecological layout, Aptos still focuses on infrastructure construction, and the deployment scenarios are mostly products such as wallets, DEXs, and lending protocols. However, from the public information on the market, most of the Aptos ecological projects are still in a relatively early stage of continuous development , and some projects are still under development. Therefore, CryptoJ has compiled the Aptos native project development as of July 27, 2022 based on public information. details as following:

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks


  • Econia

Econia is an order book on a hyperparallel chain built on the Aptos public chain. More specifically, Econia is a central limit order book (CLOB), a basic financial tool used by financial institutions such as the stock market, but traded with the New York Stock Exchange. Unlike Nasdaq, Econia is open source and decentralized.

Econia is currently in development, and its V1 release will introduce a key innovation for on-chain transactions – the Econia Atomic Matching Engine, which enables finality of market order settlement during transactions.

Related Links: https://www.econialabs.com/


  • NjordFinance

NjordFinance is a lending protocol on Aptos for unlocking yield-generating security and diversification strategies.

Related Links: https://twitter.com/NjordFinance

  • Bridge Network

Pontem is a product development studio dedicated to enabling global financial inclusion through blockchain. Pontem works with Aptos to build the base DAPP and other infrastructure like development tools, EVMs, AMMs, etc. The Pontem team has developed a Diem-Move fork virtual machine that can be easily deployed to other public chains such as Polkadot, Cosmos, Avalanche, etc. Pontem also makes Move VM compatible with traditional virtual machines like EVM for easy deployment using Solidity or Vyper codebases.

The Pontem team developed the first AMM-based DEX on the Aptos chain—Liquidswap and the wallet MultiMask.

Related Links: https://pontem.network/

  • Zaptos

Zaptos is a non-custodial liquid staking protocol built on the Aptos chain. Users can deposit their assets in Zaptos and receive IOU derivatives, which can be used in DeFi protocols or other Dapps built on the Aptos chain. Zaptos’ vision is to increase the decentralization of the network and make stakers’ locked assets productive on-chain. The goal of Zaptos is to make staked APTOS tokens flow through zAPTOS, while distributing APTOS across multiple validators to increase the network’s censorship resistance.

Related Links: https://twitter.com/ZaptosFinance

  • Thala Labs

An efficient stablecoin project built using the Move language.

Related Links: https://twitter.com/ThalaLabs

  • Aries Markets

Decentralized margin trading platform built on Aptos.

Related Links: https://twitter.com/AriesMarkets


EMPO is a DEX built on Aptos.

Related Links: https://twitter.com/Empo_Fi

  • Laminar

Laminar is a fully decentralized DEX built on Aptos.

Related Links: https://laminar.markets/

  • Vial

Vial is a pooled interest rate protocol that allows users to lend and borrow assets on the Aptos chain. Lending rates are determined algorithmically based on pool utilization (the ratio of borrowed assets to supply assets). Vial has now released a testnet on its official website, and users can connect to the wallet to apply for test coins for experience testing.

Related links: https://www.vial.fi/

  • last

ultima is a liquidity protocol built on Aptos.

Related link: https://twitter.com/ultimaprotocol

  • seam.aptos

A stablecoin revenue platform built on Celo and Aptos.

Related Links: https://www.seam.money/app

  • Hanson

AMM-based DEX built on Aptos.

Related Links: https://twitter.com/hansondotso


  • Topaz

Topaz is an NFT marketplace on the Aptos chain, which enables the creation, browsing and trading of NFTs.

Related links: https://www.topaz.so/

  • Aptos Egg with Witch 

It is planned to launch 5,616 NFTs 10 days after the launch of the Aptos mainnet. After the NFTs are sold out, new magical creatures will be created through the destruction system.

Related link: https://forum.aptoslabs.com/t/aptos-egg-with-witch-nft-project/3475


  • Martian

The Martian wallet can be used to manage digital assets and access Dapps on the Aptos chain, and also supports minting NFTs on the Aptos development network. Martian Wallet is currently available as a Chrome plugin and plans to provide an IOS version soon.

Related Links: https://martianwallet.xyz/

  • Grow up

Fewcha is a non-custodial wallet on the Aptos chain, and its features include support for token listing and trading, as well as NFT minting and transfer. The plug-in version of the Chrome browser has been launched, and the project plans to release mobile Dapps for ios and Android in the fourth quarter of 2022.

Related Links: https://fewcha.app/

  • Hive

A mobile multi-signature wallet on the Aptos chain.

Related Links: https://twitter.com/hivewithme


  • Hippo Labs

Hippo Labs is the aggregation layer on the Aptos chain, providing the Aptos ecosystem developers with compiler, SDK and framework level tools to significantly increase their productivity. More appropriately, Hippo is described as an aggregation mechanism — leveraging a user-friendly front-end that gives users direct access to the best pricing and lending rates across multiple indices and currency markets.

Hippo is currently developing and constructing a transaction aggregator, open source Swap protocol (including constant product exchange, stable curve exchange, piecewise constant product exchange), Move to Typescript Transpiler, transaction simulation API, Aptos-wallet-adapter and other functions and components.

Related Links: https://hippo.space/


  • Nutrios

Nutrios is a privacy project on Aptos that is still in the early stages of development.

Related Links: https://www.nutrios.co/

  • Aptosphere

Aptosphere indexes Aptos’ on-chain activities in real time, providing developers with a fast and friendly API interface.

Related Links: https://www.aptosphere.com/#


  • names.aptos

A domain name service provider (ANS, Aptos Name Service) on the Aptos chain, ANS is a smart contract that maps names to Aptos addresses. A user applying for a name in names.aptos will get a special NFT, which gives the user the sole right to edit the address of the name. This NFT is composable and can be bought, sold and traded as needed.

Related Links: https://www.aptosnames.com/

In addition to the above projects, Solana and other ecological projects and developers have also joined the Aptos ecosystem and participated in the development and construction, such as Saber, Wormhole, Solrise, Dialect, Notifi, Switchboard, Paymagic and other projects.

Solana’s former marketing director Austin announced on Twitter (https://twitter.com/austinvirts/status/1549115616233041920) on July 19 that he has joined the public chain project Aptos as the director of the ecosystem, which will be officially opened next month Work. Most of Austin’s career at Web3 has been focused on incubating and scaling global communities and teams.

2.2 Aptos social media popularity

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

3. Aptos Network and Technology Progress

3.1 Move language

Move is a smart contract language originally developed and designed by Facebook . Move (https://diem.github.io/move/introduction.html) is a next-generation language for secure, sandboxed, and formally verified programming. Its first use case was the Diem blockchain , and Move provided the foundation for its implementation . Move allows developers to write programs that flexibly manage and transfer assets, while providing security and protection from attacks on those assets. However, Move was also developed with use cases outside of the blockchain environment in mind.

  • 3.1.1 Aptos blockchain and Move language were developed simultaneously more than three years ago

Move draws inspiration from Rust (https://www.rust-lang.org/) by using resource types with move (hence the name) semantics as explicit representations of digital assets such as money.

The Move language is designed for secure resource management and verifiable execution on the blockchain. Execution of transactions is deterministic, closed and measured . Deterministic and closed means that the output of transaction execution is completely predictable and based only on the information contained in the transaction and the current ledger state. Metering is an important defense against denial-of-service attacks at the transaction execution level .

Move validators can formally verify the properties of Move modules through an expressive specification language fast enough to run as part of continuous integration testing. Move resources, inspired by linear types, statically ensure that resources are preserved and not copied or accidentally destroyed — completely avoiding a class of potential attacks.

According to Aptos founder & CTO Avery Ching (https://medium.com/aptoslabs/the-aptos-vision-1028ac56676e), “The Aptos blockchain and the Move language were developed simultaneously more than three years ago. Accounts, transactions Fees, standard library, validator node management and configuration are all implemented with Move. We love Move’s security and are excited to help build a broad ecosystem around it.”

  • 3.1.2 Four main goals of the Move language

The Move language design attempts to solve the problem of digital asset protection from the perspective of programming language . The Move language has four main goals : protection of first-class resource types (Frist-Clase Resources), flexibility, safety, and static verifiability.

The Move language (https://diem-developers-components.netlify.app/papers/diem-move-a-language-with-programmable-resources/2020-05-26.pdf) introduces a ” first-class ” design The concept of resource type protection (Frist Class Resources)”, simply put, a first-class resource type is first a variable type , and then specifies the variable of this type:

  • cannot be copied
  • cannot be destroyed implicitly
  • “Move” can only be performed on different program addresses

Flexibility design, Move bytecode can be directly executed, and can also call other published Modules code, can call multiple programs in one transaction, and can flexibly transfer money to multiple people in one transaction.

Designed for security and verifiability, the Move coding system provides targeted security protection for resources. Move resources cannot be copied, reused or destroyed. A resource type can only be created or destroyed by the module that defines its type. Move virtual machine (https://developers.libra-china.org/docs/reference/glossary/index.html#move-virtual-machine-mvm) will pass static bytecode verification and reject failed bytecode verification program to run to ensure its safety.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Schematic diagram of transfer, source: white paper

3.2 Aptos state synchronization

Aptos published an article titled “The Evolution of State Sync: Achieving 100k+ TPS per second with less than 1 second latency in Aptos” (https://medium.com/aptoslabs/the-evolution-of-state-sync-the-path -to-100k-transactions-per-second-with-sub-second-latency-at-52e25a2c6f10) blog post on the topic of state synchronization , the Aptos blockchain leverages a wide range of new technologies to ensure a decentralized network State synchronization for high-throughput, low-latency cards in . In Aptos, peers can verify and synchronize over 10k TPS with a latency of less than 1 second, while Aptos is already moving towards 100k+ TPS.

  • 3.2.1 What is state synchronization?

State synchronization is an important but often overlooked direction in blockchain design. Most blockchains are hierarchical, with a set of active validators at the core of the network. Validators grow the blockchain by executing transactions, producing blocks, and reaching consensus. Other peers in the network (e.g. full nodes and clients) replicate the blockchain data (e.g. blocks and transactions) generated by validators. State synchronization is a protocol that allows non-validating nodes to distribute, validate and persist blockchain data and ensure that all nodes in the ecosystem are in sync.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Aptos Ecosystem (Overview)

  • 3.2.2 The importance of state synchronization

State synchronization is rarely mentioned when evaluating blockchains, however, state synchronization has a significant impact on blockchain performance, security, and user experience. Consider the following:

  1. Completion time and user experience
  2. relationship with consensus
  3. Impact on decentralization
  4. data correctness
  • 3.2.3 Objectives of state synchronization

With the generic model in place, it is now possible to define several basic goals for state synchronization:

  1. high throughput
  2. low latency
  3. Fast boot time
  4. Resistant to glitches and malicious actors
  5. Tolerating resource constraints and heterogeneity

3.3 Incentive Testnet

Aptos has conducted two rounds of incentivized testnets so far, and the goal of AIT-1 is to demonstrate that the Aptos community can come together to deploy and maintain a decentralized network. With AIT-2, start preparing to become a reliable node operator and test the staking and node reputation framework.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

AT1 (Incentivized Testnet 1): Decentralized Launch

  • May 14th launch time
  • Send invitations on May 24
  • Number of participants: 100
  • Success Criteria
    – Successfully started node and passed liveness check within 24 hours
    – Availability over 95%
  • Rewards (non-US participants only): 500 Aptos tokens per successful participant
  • Main achievements
    – Registration and tracking website will be available before IT1 starts
    – Initially limited to 100 validating nodes (will be expanded in subsequent phases)
    – Decentralized web launch tool using GitHub – Documentation to run production-grade validators
  • Goal
    – Implement a decentralized web using GitHub/Genesis tools

– Testnet completion as measured by Aptos stay online and participate

AIT2: Staking

  • Launch: July 1st
  • Testnet end date: July 22
  • main result

– Test coins support staking and staking rewards

– Decentralized faucet support

– Update the gas schedule, e.g. improve and document the cost of each operation in a transaction, to make transaction costs predictable

In the closed Testnet 2, there are more than 225 community nodes, 26 of which are operated by Aptos and Aptos partners. These nodes are distributed in 44 countries and 110 cities around the world.

  • The rewards are as follows:

– Full reward: 500 Aptos tokens for those who meet all the official conditions

– Partial reward: 300 Aptos tokens for those who can achieve at least 50% in terms of activity and engagement and other criteria

– Reward: 200 Aptos tokens for each of the following criteria:

  • Top 10% and upgrade at least once
  • Operators that keep nodes in remote locations while meeting all of the above requirements. Because they help to better understand the nuances of how decentralized node distribution affects performance
  • Operators who have done an excellent job of helping to identify critical issues and make significant contributions

Note: Due to regulatory concerns, Aptos tokens can only be offered to non-US participants. Any rewards associated with incentivizing the testnet will only be offered after the mainnet has successfully launched, and any tokens offered will have a lock-up period of at least one year.

AIT3: Governance and Escalation

  • Expected number of participants: 1000
  • Success Criteria – Successfully started node and passed liveness check within 12 hours of node start time – Over 97% availability – Successful participation in standard network upgrade, 2 days response time – Successful participation in patch network upgrade, 12 hour response time – in the first 75 % of consensus participants (consensus voting)
  • Rewards (non-US participants only): – 5000, 2500 and 1000 Aptos tokens for the first 3 voting nodes – 500 Aptos tokens for each successful participant
  • AIT3 Registration – August 19
  • AIT3 Launch – August 30
  • AIT3 Ends – September 9th

AIT4: Dynamic validator topology

  • Expected number of participants: 1000+
  • Success Criteria – Successfully launched node within 12 hours of node launch time and passed liveness check – remaining criteria are still being determined
  • Rewards (non-US participants only): 500 Aptos tokens per successful participant, additional rewards under consideration

3.4 Parallel execution engine

Aptos shared in an official blog (https://medium.com/aptoslabs/block-stm-how-we-execute-over-160k-transactions-per-second-on-the-aptos-blockchain-3b003657e4ba) to , Aptos designs and implements an efficient, multi-threaded, in-memory parallel execution engine by leveraging preset transaction orders and combining software transactional memory techniques with novel cooperative schedules.

Aptos implements Block-STM in an open source codebase, relying on Rayon, Dashmap and ArcSwap crates for concurrency. The system was evaluated using non-trivial point-to-point move transactions (8 reads and 5 writes).

In the figure below, Aptos compares Block-STM with sequential execution of blocks. Each block contains 10k transactions , and the number of accounts determines the level of conflict and contention. In the low contention case, Block STM archiving is 16 times faster than sequential execution using 32 threads, while in the high contention case, Block-STM archiving is over 8 times faster. Importantly, Block-STM incurs a small amount of overhead when the workload is sequential in nature. Overall, Block-STM is able to dynamically and transparently (without user prompts) extract the inherent parallelism from the workload. A detailed comparison with related work can be found in the paper (https://arxiv.org/pdf/2203.06871.pdf).

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

Different levels of Block STM performance

3.5 BFT Consensus Protocol

The Aptos team has developed a production-grade, low-latency Byzantine Fault Tolerance (BFT) engine. In the past three years, the fourth iteration of the protocol has been implemented (https://github.com/diem/diem/blob/main/developers.diem.com/static/papers/diem-consensus-state-machine -replication-in-the-diem-blockchain/2021-08-17.pdf) (state-of-the-art HotStuff derivative). During this period, the consensus protocol was upgraded in a private mainnet environment with diverse operators and zero downtime.

Aptos’ first implementation of the BFT protocol (https://github.com/aptos-labs/aptos-core/blob/main/developer-docs-site/static/papers/aptos-consensus-state-machine-replication- in-the-aptos-blockchain/2019-06-28.pdf) adds an active pacer that uses a timeout to sync validators, which is much faster than waiting for an increased timeout. With recent improvements to the protocol, blocks can be committed in just two network round trips, making sub-second finality a common case.

Aptos’ novel reputation system (https://arxiv.org/abs/2110.00960) analyzes on-chain state and automatically updates leader rotation to accommodate unresponsive validators without any human intervention, making it ideal for decentralized environments . Furthermore, Aptos’ protocol clearly distinguishes liveness from safety. Whether the network is unreachable or the non-secure core is compromised in some way, the chain will not fork as long as the BFT honesty guarantees are maintained. The security of the consensus protocol has been audited and formally verified (https://www.garillot.net/talks/2020-05-27-mechanized-proof-libra).

3.6 Technology Roadmap – Blockchain Core Stack

According to Aptos community (https://wiki.aptos.movemove.org/gai-lan/ji-shu-lu-xian-tu) via GitHub repository (https://github.com/aptos-labs/aptos-core) The technical roadmap for tracking issues in the following is as follows:


  • On-chain discovery for full nodes – no more advertising required
  • Improved network topology, such as distinguishing upstream, downstream and peers
  • DDoS mitigation and assessment for validators – attacks from downstream full nodes and validators
  • Inline health checks to reduce unnecessary contention on the network stack


  • Dynamic validator sets, subcommittees
  • Remove legacy consensus code
  • Deep security rule integration via reference models to minimize replication overhead
  • Query keys via environment variables or configuration parameters
  • Secure data storage in the consensus database (rocksdb)


  • Fine-grained storage – the current model leverages Blob storage to limit the maximum storage capacity of a single account, including native table expansion
  • CRSN (Collision Resistant Sequence Number) – use the eligible sequence number window instead of the sequence field
  • Storage economics, anti-state explosion. gas and state eviction
  • Performance benchmarks and improvements, including per-block rather than per-transaction state authentication structure maintenance

state synchronization

  • Synchronize using latest state and state output deltas instead of transactions
  • Backup and recovery adapters for endpoints, such as AWS S3 buckets
  • Intelligence between consensus and state synchronization, performance awareness and roles in consensus (validator set or followers)

memory pool

  • Improved transaction serialization and stickiness, including parallel support for transactions on the same account
  • Eliminate or restrict validators from broadcasting transactions


  • Enable parallel execution of transactions
  • Reduce the granularity of merkle tree updates from transaction to block
  • Remove execution correctness trusted computing library

Virtual Machine (VM) / Framework

  • Stricter enforcement of module variability, e.g. temporarily freezing versions and leaving open governance to enable it
  • Error type or richer error from non-core framework module
  • A modern gas schedule that maps to actual usage
  • Support for parallelizable sequence numbers, allowing “out-of-order” transaction execution for a single account, also known as conflict-resistant sequence numbers

Operation tool

  • Validator and full node creation and registration
  • Key and address rotation
  • Collaborative backup and restore with state sync
  • Deep Health Checker
  • Retrieve and print managed node information
  • Retrieve and print node’s on-chain information
  • Validate full node/validator deployments, e.g. run a standalone testnet

Smart Contracts and Frameworks

  • Proof of stake, delegation and rewards
  • Governance/DAO upgrade framework to replace root account
  • DeFi or exchange applications

performance tuning

  • Use perf to evaluate waste and apply valuable changes between validators and full nodes
  • Unify Tokio executors to reduce contention

4. Potential Uncertainties for Future Development

Although Aptos, which has a “star halo” above its head and is favored by mainstream head agencies, has made its debut after going through two rounds of incentive testnets, it remains to be seen what technology, projects, white papers and other materials can be disclosed, as well as the actual implementation. There are still some potential uncertainties in the future development of the chain .

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

4.1 The actual landing of the main network

Aptos will inevitably expose certain problems in the two rounds of incentive test network, such as node panic, state synchronization blocking, high traffic and other problems. The sooner the problem is found, the better the official solution.

According to the official roadmap, there are 4 rounds of Aptos incentive testnet, which are:

  • AIT1: Decentralized Startup
  • AIT2: Staking
  • AIT3: Governance and Escalation
  • AIT4: Dynamic validator topology

However, there are still differences in the environment of the two rounds of testnets that have been carried out and the future mainnet . Due to the adjustment of test nodes, number of people, and configuration, although the core functions may be guaranteed to be safe, it is still not ruled out that the mainnet may be launched later. problems that arise.

At the same time, certain technical problems may be encountered in the upcoming AIT3/AIT4, which may affect the original launch time of the main network and affect the progress of some related ecological projects. Also, Aptos, which is in beta, still lacks a lot of regular user participation.

4.2 Competition on the public chain track

The public chain track has always been the most challenging and the best place to carry the value. With the rapid explosion of applications such as DeFi, NFT, and Web3, the narrative and conceptual nature of the public chain are the main concerns of the market. One of the points, of course, the competition on the public chain track has never stopped.

Counting the development of the public chain track, from BSC, Solana, Avalanche, Fantom, Near, Avalanche, to Terra, one after another public chain not only showed a good answer in the secondary market price, but also ushered in a boom in ecology The development of , has led to a small upsurge belonging to the emerging public chain.

But among the public chains with a TVL of more than 10 billion US dollars, only Solana is currently incompatible with Ethereum, although Aptos is also trying to develop a public chain development path with its own characteristics, nonetheless, such as Framework co-founder Vance Spencer and others on Twitter Asked: “Did Aptos do anything that solana didn’t do?”.

Although Solana’s rapid explosion is exciting, its fast enough speed and performance also bring a good user experience, but the centralization problem seems to be difficult to gain the trust of some developers, whether Aptos can be decentralized and secure enough And the task of completing the “impossible triangle” of the public chain while maintaining high performance remains to be observed.

Aptos In-Depth Interpretation: Opportunities, Challenges and Risks

4.3 Meta-series Competitive Networks

The public chain projects that belong to the Meta department with Aptos include Sui and Linera . The founders of the three public chains were all born in Meta, and the team members used to be the main creators and core developers of Diem and the encrypted wallet Novi, and a16z participated. investment.

Similar to Aptos, Sui also continues Libra’s Move development language, but Sui has made certain improvements on the original version (Core Move, https://docs.sui.io/learn/sui-move-diffs).

According to people familiar with the matter (https://www.theinformation.com/articles/startup-founded-by-former-meta-crypto-execs-seeks-2-billion-valuation?utm_source=organic&utm_content=headline&utm_medium=awarenessbar&utm_campaign=AB_post), Sui development team Mysten Labs is seeking to raise at least $200 million in Series B financing at a $2 billion valuation . This round of financing will be led by FTX Ventures, which has already committed at least $140 million in funding. Mysten Labs has previously completed a $36 million Series A financing, also led by a16z, with participation from Coinbase Ventures, NFX, Slow Ventures, Scribble Ventures, Samsung NEXT, and Lux ​​Capital.

As early as last November, Mysten Labs completed a $36 million Series A financing led by a16z, with participation from Coinbase Ventures, NFX, Slow Ventures, Scribble Ventures, Samsung NEXT, and Lux ​​Capital.

In terms of network progress , Sui has also opened the incentive testnet registration , and validators, developers, and Sui enthusiasts can apply to participate. The Sui Foundation will reward validators with 2,000 SUI for each testnet “wave” they participate in, and pledge up to 10% of the supply of Sui tokens to be pledged to top-performing validators who continue to participate in the Sui mainnet. SUI token rewards are only available after the mainnet launch of Sui Protocol, with a one-year lock-up period.

In addition, in the current public project information and white paper version (https://github.com/MystenLabs/sui/blob/main/doc/paper/sui.pdf), Sui has captured its network, technology, and token value. etc. are described in more detail.

Another “Meta series” Layer1 blockchain Linera announced the completion of a $6 million seed round, also led by a16z , with participation from Cygni Capital, Kima Ventures and Tribe Capital. Funds raised will be used to hire engineers and team members to build the protocol. Linera founder and CEO Mathieu Baudet is a former Meta employee who helped Meta create Libra.

Judging from the current development of the three public chains, Aptos has a slight advantage in terms of ecology and progress. However, due to the great overlap in the background, technology and institutional support of the three public chains, the future progress of similar competition still needs to be Observed.

4.4 Network Value Capture

Since Aptos has not yet released the official white paper, it is impossible to query the detailed information about the network and token value capture. On the other hand, when a16z, FTX Ventures and other investment institutions raise the valuation of Aptos, there are chips In a relatively concentrated situation, in the context of capital, market makers, and high valuations, there are still unknowns in the performance of the token secondary market.

4.5 Learning costs

Although the Move language is very innovative, the new language will also increase the cost of learning. In addition, it requires a certain amount of re-learning and construction time in terms of ecological security, auditing, and development infrastructure. How does Aptos attract more developers? It is still an unavoidable problem to ensure the sufficient security of the upper-layer applications to jointly build the ecological future.

V. Summary

On the whole, Aptos has great first-mover advantages in terms of technology accumulation, development team, capital support, and narrative direction .

Relying on the basic bottom layer, Aptos tries to break through the layout of the previous public chain, and promotes together in terms of network performance, transaction processing ability, security, speed, decentralization, etc., to create a new definition of public chain.

Aptos is still in the forward stage of rapid development, including the community, ecology, white paper, network, main network and other aspects are still being further improved, so there may inevitably be some potential uncertainties, but with the unique opportunity advantage, the market still has high hopes for the future of Aptos.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/aptos-in-depth-interpretation-opportunities-challenges-and-risks/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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