Aptos is a layer 1, proof of stake blockchain developed by Aptos Labs. This start-up is led by former Meta employees that worked on the Diem project.
In a report by Stefan Stankovic in cryptobriefing.com, the project have already raised a total of $350 million this year after its latest funding round, raising the firm’s overall valuation to $2 billion.
The latest capital infusion is $150 million with its leading funders FTX Ventures and Jump Crypto. The latest funding round is reported to have been participated also by well-known venture capital firms, including Andreessen Horowitz, Multicoin Capital, and Circle Ventures.
According to a blog post published early this year, Aptos aims to be the “safest and most scalable Layer 1 blockchain” in the world. Aptos is hoping to build and improve upon Diem’s (formerly named Libra) work with the same group of renowned scientists and researchers.
“Aptos was designed with an emphasis on absolute safety, extensible scalability, and credible neutrality—values that we know firsthand and viscerally understand,” the February post reads.
Explaining in a press release, Aptos Labs co-founder and CEO Mo Shaikh said that Aptos optimizes for scalability, safety, and ease of use. “We’ve known for a while that, due to issues like outages and downtime, current blockchains are not fit for purpose when it comes to mass Web3 adoption,” he said.
Based on their press release, Aptos will use the fresh capital to support the project’s development and build a blockchain that would onboard “the next billion users.”
The overall goal of Aptos can be gleaned on the first page of its white paper – to build a safe, scalable and upgradeable web3 infrastructure.
The Aptos blockchain is now its third testnet stage, dubbed Aptos Incentivized Testnet 3 or AIT-3 as explained on its website – aptoslabs.com.