APT Token: What to Know About the New Kid on the Block
Published January 8, 2023.
The Aptos cryptocurrency program has gained a lot of media coverage. While some experts argue that blockchain technology has yet to find its "killer app," others believe that this platform is sustainable enough to play a significant role in future data security management.
Whatever your position on the topic, it's impossible to deny that Aptos has caught the interest of crypto fans worldwide. The project has also already obtained funding from several venture capital firms, which is significant for any new coin, even though it is still in its early phases.
This article will cover what APT is, the controversy it has caused, and the token's predictions.
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APT in Brief
The layer 1 blockchain known as Aptos was created by Aptos Labs, which Mo Shaikh and Avery Ching founded. Both were previous employees of Meta. Shaikh and Ching spent years working as senior developers in the blockchain sector, and they built Aptos using the Move programming language.
Scalability, dependability, safety, and upgradeability are the foundations of the Aptos blockchain. The program aims to integrate cutting-edge ideas for performance optimization, system security, consensus mechanisms—and smart contract designs—to change the layer 1 sector.
Web3 is an all-inclusive blockchain system that APT is developing, intending to increase the adoption of this technology by the general public. Web2 is supported by cloud infrastructure that APT wants to recreate in a decentralized manner. Additionally, Aptos intends to create a DApp ecosystem that is geared at resolving real problems.
Controversy Behind APT
Aptos released an overview of its token distribution and reward programs following allegations of a weak start and community criticism concerning the percentage of its native APT tokens held by private investors.
A total of 1 billion Aptos tokens were available at the mainnet's launch. The Aptos Foundation and private investors held the remaining tokens, of which 510 million were distributed to community members and 190 million to core developers.
410 million tokens have been secured by the Aptos Foundation, which will gradually distribute them over the next ten years. Initially, over 125 million APT will be made available to fund ecosystem projects, grants, and other community growth activities; the Foundation category will receive a reduced 5 million APT.
Aptos Labs own 100 million of the 1 billion tokens in circulation. Private investors and current core contributors will have four years to sell their tokens, starting with the mainnet launch. According to Aptos, stakers who support the network can receive incentives. The reward rate will be adjusted at each epoch, or collection of blocks mined by miners and is currently listed at 7% annually.
Until it hits a lower bound of 3.25%, the maximum reward rate is reduced by 1.5% annually. All transaction costs, though, are currently burned. This will change depending on the Aptos community's choices to influence its future development.
Although most of the community had mixed feelings about the token strategy, many people criticized the number of tokens given to developers.
Aptos Token Predictions
Now that Aptos Token (APT) has been released, it's time to see what we can expect from this cryptocurrency. Here are some predictions to consider:
- At the end of December 2022, Aptos is predicted to be worth around 7 USD. 7.67 USD is the highest value Aptos will ever reach in this time frame.
- APT is expected to have a bullish year in 2023, establishing its true value. Its predicted price should fall between 5.44 USD to 14.61 USD.
- The cost of APT is then expected to rise dramatically in 2024. Once it starts heading upwards, the token is expected to see a 2.5X increase, with a predicted maximum and minimum price of 13.55 USD and 33, respectively.
Although the APT Token is a newcomer to the field, its developers have extensive knowledge of blockchain technology.
Aptos has generated a great deal of media interest while in its early phases. They have already received funding from several venture capital firms, partly because of Move's use in the project's development and partly due to the layer 1 blockchain technology.
Aptos wants to build a blockchain platform that can handle lots of transactions and fast processing. This will make it possible for Aptos developers to create a wide range of decentralized applications that offer practical solutions.