Is SBF Responsible for Destroying Aptos? (The Rise of the “Solana Killer” in 2023)

Aptos, a layer 1 blockchain, suffered a rocky launch due to its association with FTX and a plummeting token price. However, despite some bad actors, Aptos attracted nearly $200 million in funding from hedge funds and VCs. The blockchain can theoretically process up to 160,000 transactions per second, thanks to its Block-STM parallel execution engine. Aptos uses its own virtual machine, which separates it from the field by using parallel execution and is faster than Sui. Aptos has the potential to be a competitive layer 1 blockchain and has been touted as a Solana killer, as it can process 95,000 more transactions per second than Solana.

Aptos: A Promising but Troubled Layer 1 Blockchain

Aptos is a layer 1 blockchain that has gained a lot of attention over the past months. But its association with FTX and Sam Bankman-Fried caused its reputation to take a hit. Despite its troubled start, can Aptos recover, and does it have what it takes to be a competitive layer 1? In this article, we’ll take a closer look at Aptos and make a case for its potential move in the next bull run.

The Rocky Start of Aptos

Back in July, Aptos received a $150 million investment from Sam Bankman-Fried and FTX. However, the launch didn’t go as smoothly as expected. The token price plummeted, and the blockchain’s promised fast speeds were slow. Although Aptos clarified that no treasury was held by FTX, the association with SBF caused the blockchain’s value to tank.

Is There Enough Cash Flow for Aptos to Succeed?

Aptos raised almost $200 million from hedge funds and VCs. Thanks to its Block-STM parallel execution engine, Aptos can theoretically process up to 160,000 transactions per second. But some investors are concerned about the inflationary supply of the Aptos token and its long-term value.

The Good News: Cutting-Edge Research and Development

Despite its troubled start, Aptos is on the cutting edge of blockchain technology. Its own virtual machine is a freeware find, and it uses parallel execution to perform transactions simultaneously. Aptos is more like a shoot-first-ask-questions-later type of blockchain compared to sequential blockchains. It’s flexible and fast, making it a contender in the race for layer 1 dominance.

Aptos: A Solana Killer?

Aptos is touted as a Solana killer, as it can process 95,000 more transactions per second than Solana. Its development is also more stable than Solana’s, which has suffered outages. Aptos is undeniably cutting-edge research and development, and its potential move in the next bull run is one to watch.

In conclusion, Aptos is a promising layer 1 blockchain that has had a rocky start. But its cutting-edge technology and potential for success make it a contender in the race for layer 1 dominance.

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