Coinbase, Binance and FTX All Announce Support for New Altcoin Project “Solana Killer” Cryptocurrency News

Three of the world’s largest crypto exchanges are backing the launch of a highly anticipated digital asset project.
Coinbase, FTX, Binance and other crypto exchanges have announced support for Aptos (APT), a new Layer 1Blockchainled by Aptos Labs developer co-founders Mo Shaikh and Avery Ching.

The Aptos chain uses a programming language originally developed for Diem, tech giant Meta’s legacy crypto project that was eventually abandoned. Aptos focuses on Diem’s ​​original goal of creating a super-fast and scalable blockchain.

While Aptos originally aimed to enable up to 160,000 transactions per second (TPS) on its network, rivaling Solana’s speed, the chain is currently clocking in at 4 TPS at the time of writing.

According to Aptos, the blockchain works “as expected” on day one.

Update from day one:
Today was exciting. Many thanks for the support!

The Aptos network has evolved as expected and will see increased activity as ecosystem projects are on board and ramping up.

— Aptos (@AptosLabs) October 18, 2022

Coinbase said trading in APT/USD will be phased in on the platform once sufficient altcoin supply is established.

The day before the launch, Aptos released the project’s tokenomics, revealing that there were 1 billion tokens in circulation at the time of the mainnet launch on October 12.

Of the existing APT, 51% was allocated to the community, 19% to the main contributors, 16.5% to the Aptos Foundation and 13.48% to the seed investors. APTs held by retail investors are subject to a one-year lock-up period and all circulating supply will be released over the next decade.

Featured image: Shutterstock/Marinamiltusova2250/Tun_Thanakorn

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