We have to talk about several different “Ethereum killers” that are gaining momentum with the fallout of the merge being quite chaotic. ETH dropped to $1455 at the time of writing. Investors are panicking. Bitcoin has been falling amidst all this chaos forcing traders to liquidate their positions and drive prices further down.
While it is a very concerning and even frightening moment for BTC and ETH enthusiasts, the crypto industry sees a great opportunity with many companies suddenly entering the spotlight.
What is Aptos and why should we care?
One of the scalability issues is that many developers who create blockchain solutions usually sacrifice it to ensure that throughput is high enough to impress end users. However, vulnerabilities created by this approach often erase any utility when the confidence of end users drops. It means that we need secure solutions that would provide the necessary level of safety to new blockchain projects.
Aptos is a Diem-based layer 1 network that will focus strongly on building a highly secure network without any vulnerabilities. Despite what many enthusiasts in the crypto community think, this is a very good focus. Instead of infinite scalability, Aptos will focus on controlled growth and providing safety unlike networks like Solana that want to achieve better throughput with mechanisms that create critical weaknesses.
The series A funding round was very successful with over $350 million secured for the upcoming development cycle. Developers of Aptos are promising a solution that will facilitate quick deployment of decentralized apps and incredible scalability without issues with security which is a bold promise that can sway some investors to their side.
If technical parameters reach Aptos’ goals of 10 000 TPS and impenetrable security will be reached, it stands a chance to completely overtake Ethereum and leave it biting the dust.
The future is not locked in the success of Ethereum
Many crypto enthusiasts think that Ethereum is what will convince the world that cryptocurrencies have more utility and flexibility than fiat. However, when these advantages are paid with reductions in safety, traditional investors will think twice before going all in. Aptos seems to be a solution to this issue.
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