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A Chaotic Crypto Launch Reveals How Hard It Is to Beat Ethereum

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Other community members have attacked Aptos for failing to release. Tokenomics— A description of the distribution of tokens, how they will work, and when they will be released into circulation — before the launch date, which is considered bad form. This is like asking someone to sign a contract without setting all the terms first.

Despite these issues, Aptos CEO Mo Shaikh dismisses many of the criticisms of the launch. “[The] The mainnet launch went better than expected for a brand new network. In just under two days he reached nearly 3 million transactions, and at peak he surpassed 100 TPS,” he says. While this TPS number is higher than some rival networks’ performances, he’s currently underperforming Solana. 4,500 TPS.

According to Shaikh, the priority now is to ensure that developers have everything they need to start building applications on Aptos. Only then, he claims, “will we see an impressive number of transactions on which the Aptos blockchain was built.”

Aptos is backed by leading VCs such as Andreesen Horowitz, FTX Ventures, Coinbase Ventures and Binance Labs. Details of the latest funding round have not been made public. Bloomberg report Fixed valuation at $4 billion.

According to the tokennomics finally published by Aptos, each of these VC backers is set to win a proportionate amount of tokens. Developers and individual investors will be handed a combined 32.48% of the volume, question As to whether this could distort the economics of the network. VCs and developers cannot offload tokens for at least one year and cannot access all allocated assets until 2026, but this protection does not apply to staking rewards (equivalent to interest payments). Theoretically, Aptos backers could make a large profit from their holdings, which could then be put into the market and put downward pressure on prices.

Shaikh concedes that tokennomics “should have been announced much earlier.” But as for concerns about the amount allocated to investors, he claims shares are “among the lowest”. […] For all blockchains on the market today. ”

Shaikh and his co-founder Avery Ching previously worked together on Novi, a crypto wallet built to support the Diem stablecoin. They call the Aptos network “Layer 1 for everyone”. This is a reference to our ambition to develop a blockchain that is cheap, scalable, versatile and easy to use.

Whether Aptos can achieve this goal has a lot to do with the programming language that underpins the chain, called Move. Move was developed from the ground up to power the Diem blockchain.language enables peak theoretical A performance of 160,000 TPS, well above the theoretical peaks of both Ethereum and Solana.

Publicly, the Aptos team opposes the “Solana Killer” designation. But just as Solana is designed to process transactions faster than Ethereum, Aptos promises better performance than Solana.

The competition is healthy for the blockchain ecosystem, said David Shuttleworth, senior DeFi economist at ConsenSys, a development studio founded by Ethereum co-founder Joe Rubin. “Technology advancement should always be pursued at all levels, not just blockchain, and should not be confined to a particular ecosystem or protocol,” he says.

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