Aptos blockchain platform launches its mainnet

The developers claim that the network processes 130 000 transactions per second

18.10.2022 - 14:55

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What’s new? The Aptos blockchain platform has launched its mainnet to provide “the safest and most scalable layer 1 blockchain.” This event was the result of four years of technical development. Crypto exchange FTX, an investor in Aptos, has already announced that it will list the APT token.

Information on the Decrypt website

What is known about the project? In 2019, Meta (formerly Facebook) was working on its own blockchain project called Libra, later renamed Diem. Pressure from government regulators, as well as criticism from the cryptocurrency community, forced the tech giant to close the project. But the developers saw value in its key distinction: a method of sequencing and combining transactions to speed up the process quickly. Aptos representatives say the network processes 130 000 transactions per second, compared to 30 transactions per second on Ethereum.

Who became investors? Aptos drew the attention of venture capital investors in the run-up to its launch: in March, it closed a $200 million strategic round from major industry players, including venture capital fund Andreessen Horowitz (a16z). A $150 million Series A round led by FTX took place in the summer.

On June 23, the developers of the THORChain multichain liquidity protocol announced the launch of the mainnet, after which the price of the RUNE platform's native token rose by 13,29%.

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