Innovation is going to happen a lot faster than most people think, and Aptos is impatient to get moving, co-founder and chief technology officer Avery Ching told Cointelegraph’s Arijit Sarkar at India Blockchain Week 2024.
Aptos seeks to address the scalability and throughput limitations of other layer-1 blockchains with scalable, decentralized infrastructure capable of supporting billions of transactions.
“We want to be able to support every internet application out there” and “scale out to support the giants of Web3 that are going to come forth in the future,” Ching said.
It takes a lot of tech
Its technology is often considered Aptos’ “killer edge,” Ching said. Besides the high throughput, he had in mind infrastructure features like parallel transaction processing and onchain randomness, which can support such use cases as prediction markets and voting systems.
Business practices such as loyalty programs and coupons can also be supported when payments are integrated into ecosystems. Aptos has onboarded Tether’s USDt (USDT) and Circle’s USD Coin (USDC) and will bring on a Hong Kong dollar stablecoin.
Aptos is also looking at storing and managing artificial intelligence data lineage to facilitate AI agents interacting with blockchain systems.
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Ching emphasized Aptos’ usability as well, saying the blockchain provides developer support and a user experience with simplified authentication methods and flexible account recovery methods.
Source: Debangana Ghosh
Ahead of the curve in India
Nonetheless, Ching said Aptos’ real edge is its team. India, with the world’s second-largest Web3 developer pool, plays a large role in Aptos’ activities, placing it “ahead of the curve.” Aptos has over 40 ecosystem teams and 500 developers in India. According to Ching:
“This is one of the most developer-oriented areas of the world […] The developers are very hungry and very excited about building applications that have utility and experimenting. I think the experimenting space in Web3 is the most important thing to be doing.”
Not only that, 6.5 million of Aptos’ 8.5 million monthly active addresses are believed to be from India.
Aptos intends to power its accelerated innovation with several projects. A more advanced programming language, Move 2, will be brought out, along with a new consensus protocol called Raptor. An enhanced parallelism engine will be introduced, as will a new financial platform — Aptos Asset Management.
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