Aptos (APT) 'Solana killer' has a bumpy launch

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Aptos

Aptos (APT) aims to be the best for scalability, security, dApps and more.

The new layer 1 blockchain launched its mainnet on October 18, 2022.

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Despite Aptos's promises, some crypto investors are still on the fence with the new ‘Solana killer’ blockchain.

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Aptos (APT) ecosystem

Aptos is a scalable proof of stake (PoS) layer 1 blockchain network. Built using the Move programming language, Aptos aims to be an adaptable blockchain with high throughput.

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The network has partnered with LayerZero Labs, an omnichain interoperability platform, to bring interoperability and high security to the Aptos network.

Hippo Labs, the aggregation layer of Aptos, will help Aptos developers build composable decentralised applications while PetraWallet will be the first web3 wallet to support Aptos' native APT token, enabling Aptos holders to connect with the Aptos ecosystem and its forthcoming DeFi services.

During Aptos’s testnet phase, the network secured a $150 million investment in a funding round from FTX Ventures. Other investors include Apollo, Circle Ventures and a16z.

FTX exchange and Binance will list Apto's native APT token, bringing the Aptos ecosystem to mainstream crypto investors and traders.

Aptos (APT) troubles

Following Apto’s launch, Twitter VC ghostwritter highlighted potential game-breaking issues with the Aptos network.

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The issues range from fewer TPS (transactions per second) than was initially promised and institutional meddling common in big crypto launches whereby investors who bought tokens during a funding round will have their tokens released early and ‘dumped’ on retail buyers.

Unfortunately, it's common for most crypto launches to come with undesirable tokenomics for retail investors.

APT competitors

Sui is a PoS blockchain network built using Aptos’s Move programming language. Sui has very similar specifications to Aptos, aiming to provide high throughput and instant settlements.

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With over 60 DeFi projects building on Sui already, some crypto speculators believe Sui is ahead of Aptos and has been crowned an ‘Ethereum killer'.

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