New layer 1 crypto that solves Solana and Ethereum limitations

by Arthur · October 15, 2022

Aptosa new layer-1 network, preparing for launch later this year. It has technical capabilities that solve some of the limitations of Ethereum and the frequent downtime on Solana.

The new Aptos network was built using a unique Rust programming language. MOVE solves some of the problems with Ethereum. These include the scalability trilemma and the fact that Ethereum cannot perform parallel processing.

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Aptos Parallel Processing

Parallel processing is essential for faster transactions, but EVM can only process transactions sequentially. These problems also affects Layer 2 on Ethereum, which is part of the reason why the mainnet cannot scale without sharding.

However, Solana is a parallel processing blockchain, which is why it performs a large number of transactions. But network downtime is a big problem.

With Apto’s blockchain, all these limitations will be absent since the network processes around 160,000 TPS. By using a parallel execution engine (Block-STM), Aptos aims to ensure lower transaction fees.

Aptos blockchain compared to Solana Ethereum — Comparison of layer 2. Source: Twitter

Parallel processing ensures that all transactions are executed simultaneously and validated afterwards. Any failed transactions do not affect the entire chain. In fact, failed transactions are aborted and re-committed because of the STM (software transaction memory) libraries.

Growing interest in Aptos Labs and Layer 1 Blockchain

Interest in Aptos is already very high, with 20,000 validator nodes on the testnet. That’s more than 10 times the number of validators on Solana’s mainnet.

The interest is understandable due to the enormous development of the network in about three years. More than 350 developers worldwide are working on Apto’s blockchain.

Besides its high scalability and reliability, the Aptos network also has another layer of security. All assets can be handled separately on the chain thanks to the programming language.

This means that it is impossible to copy or drop a resource after it has been created. As a result, common attacks on Ethereum, such as re-entrance, cannot occur on the network.

The growing interest in Apto’s blockchain means it will launch at a higher valuation than most Layer 1s. This is not only because of the hype surrounding it, but also the funding from venture capitalists.

Meta employers from the failed Diem project founded Aptos Labs. It has already raised $350 million in funding from some of the top venture capitalists in the crypto market. These include Andreessen Horowitz, FTX ventures, Jump Crypto, OAK HC, Coinbase, Tiger Global, Binance Labs and many more.

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