Layer-1 Blockchain Aptos Launches Its Mainnet

Aptos Labs Raised $150M In July

Aptos, the much-hyped Layer 1 blockchain being built by ex-Meta engineers, has launched Aptos Mainnet after months of testing.

The project cites upgradeability, the Move programming language and a “people-first user experience” as some of its key differentiators from existing Layer 1 networks.

Aptos Labs, the startup behind the project, raised hundreds of millions of dollars in 2022, including a $150M Series A in July.

Aptos $150M Fundraising Breathes Life into Layer 1 Prospects

FTX and Jump Crypto Led

The announcement goes on to note various technical features that aim to deliver a speedy network, but does not give details on how users may connect to the blockchain.

Aptos’ two co-founders, Mo Shaikh and Avery Ching, both worked on Meta’s Diem initiative before leaving the company and starting Aptos Labs.

As a blockchain designed to act as a base network for applications, Aptos is known as a Layer 1 (L1), a category that includes Ethereum, Solana, and Avalanche. 

Move is an executable bytecode language used to implement custom transactions and smart contracts, according to Diem’s website, and crypto VCs have clearly shown their interest in the technology this year with their investments in Aptos and Sui, a competing Layer 1.

Layer 1 Blockchain Sui Raises $300M At $2B Valuation

Series B Was Led By FTX Ventures