APT Token

What is Aptos (APT)?

Aptos (APT) is a scalable layer 1 blockchain token based on the Move programming language. The token is the native token of the Aptos project, serving a variety of use cases within the network​.

The Aptos project consists of several major components:

• Move: Aptos uses Move, a smart contract programming language that was originally developed at Meta to power the Diem blockchain. Move focuses on safety and flexibility, making it a central component of the Aptos project.
• Parallel Processing Execution: Aptos employs a parallel data model and execution engine to improve execution efficiency.
• AptosBFT Consensus: Aptos uses a variant of the Byzantine fault tolerance consensus mechanism, enhancing the overall efficiency of the network​.

What is Aptos (APT) used for?

The APT token is primarily used for:

• Network Fees: APT is used to pay for transaction fees on the network.
• Validator Staking: APT is staked by validators to participate in the DPoS network consensus.
• Governance: APT token holders can participate in on-chain community governance, contributing to the direction and development of the Aptos project​.

Who created Aptos (APT)?

Aptos Labs, led by Mo Shaikh and Avery Ching in 2021, is the organization that developed the Aptos blockchain and the APT token. Both Shaikh and Ching have prior experience with Meta's blockchain project, Diem.