Aptos is a Layer 1 blockchain created by Aptos Labs, established in 2021 by Mo Shaikh and Avery Ching, both formerly at Meta . Building on the technology once developed for Meta’s discontinued Diem initiative, Aptos aims to provide a highly scalable, secure, and easily upgradeable environment for decentralised applications (dApps) and smart contracts.
At its core is the Move programming language, a Rust-based framework engineered for the safe and efficient execution of smart contracts. This choice enhances security, performance, and reliability for developers. A standout feature of Aptos is its parallel execution engine, Block-STM, which processes multiple transactions simultaneously. Under optimal conditions, this architecture can handle up to 160,000 transactions per second (TPS), delivering both high throughput and low latency.
The network relies on a Proof-of-Stake (PoS) consensus mechanism, requiring validators to stake Aptos’s native APT token to participate in transaction validation and governance. This model promotes security, energy efficiency, and a fair distribution of rewards among validators. APT also serves as a means for paying transaction fees and earning staking returns.
Following its mainnet launch on 17 October 2022, Aptos has cultivated an expanding ecosystem that includes DeFi, NFTs, and gaming. Thanks to its speed, developer-friendly features, and commitment to scalability, Aptos stands as a noteworthy competitor to other Layer 1 blockchains such as Ethereum and Solana, further advancing the broader Web3 landscape.
Technical Architecture Overview
Consensus and Data Management
Aptos operates as a delegated proof-of-stake blockchain, with approximately 80% of its circulating supply staked across 135 validators.
Its core components include the AptosBFT v4 consensus protocol, Quorum Store, and the Block-STM execution engine.
- AptosBFT v4: This consensus protocol builds on Jolteon to improve communication efficiency and reduce latency by up to 33% compared to systems like Tendermint’s Hotstuff. Validators communicate directly, bypassing leaders as intermediaries, to optimise network performance.
- Quorum Store: Quorum Store separates the dissemination of transactions from their ordering. It organises transactions into batches, which are then shared across validators, reducing the workload on leaders and improving horizontal scalability. This approach enables the system to efficiently handle increasing transaction loads.
- Block-STM Execution Engine: Block-STM leverages optimistic concurrency, allowing multiple transactions to be processed simultaneously. Unlike Solana and Sui, which use pessimistic concurrency, Aptos reduces development complexity while improving throughput and performance.
Together, these components enable Aptos to handle up to 30,000 TPS in simulated environments and sustain 25,000 TPS under typical conditions. In a single day, Aptos has demonstrated the capability to process over 2.1 billion transactions.
Programming with Move
Aptos employs the Move programming language, originally developed at Meta, which offers a tailored solution for blockchain development. Move prioritises security, efficiency, and simplicity. Its design prevents common vulnerabilities, such as reentrancy attacks, and supports parallel processing, reducing the burden on developers.
Move introduces features like efficient memory management and formal verification, ensuring smart contracts are robust and error-free. Recent improvements include receiver-style function calls, user-defined abilities, and resource access controls, enhancing the developer experience. The Move Prover provides an additional layer of verification, allowing developers to validate contracts quickly and reliably.
Applications and Ecosystem Potential
High Throughput and Low Fees
Aptos’s architecture supports diverse applications, including decentralised exchanges, on-chain order books, gaming, and AI-based solutions. Its high throughput and low fees make it suitable for handling large transaction volumes. Additionally, sponsored transactions enable seamless user interactions without requiring wallets or transaction fees.
Secure Tokenization and Institutional Support
Aptos has prioritised secure tokenization through its Move language, addressing vulnerabilities commonly found in other blockchain systems. The Aptos Ascend programme, developed in collaboration with industry leaders, provides tailored solutions for secure tokenization, offering features like zk-enabled privacy, conditional transactions, and automated revenue collection. This approach caters to institutional adoption, offering customised solutions instead of relying on generic blockchain tools.
Overall, Aptos combines innovative architecture, a developer-centric programming language, and scalability to deliver a high-performance blockchain platform. Its focus on efficiency, security, and adaptability positions it as a strong contender in the development of decentralised applications and institutional blockchain adoption.
Aptos Core recent technical developments
The latter half of 2024 saw some key technical enhancements introduced to prioritize scalability, security, and developer productivity.
Sub-Second Latency and High Throughput:
Aptos has succeeded in achieving sub-second confirmation times - an essential feature for financial services that depend on instantaneous transaction processing. Alongside this rapid latency, the network also delivers high throughput, enabling large transaction volumes without any dip in reliability or security.
Block-STM v2:
Block-STM v2 represents a landmark update to Aptos’ parallel execution engine. Engineered to scale efficiently on 256-core systems, this upgrade accelerates parallel transaction processing and significantly increases overall throughput. Thanks to this adaptable architecture, Aptos is able to maintain very low gas fees (approximately US$0.00005 per transaction) even at peak network usage. Block-STM v2 has raised the bar for straightforward and secure parallel execution, encouraging notable blockchain platforms, including Polygon, Sei, Monad, and Starknet, to adopt it. These integrations emphasise Aptos’ dedication to expanding parallelism and advancing web3 capabilities.
Raptr:
Aptos plans to adopt Raptr, BFT consensus protocol. According to Aptos Labs’ Head of Research, Sasha Spiegelman, it represents the “endgame for blockchain consensus”. Raptr aims to preserve sub-second latency and high throughput even under considerable network strain. By guaranteeing both scalability and stability, this protocol paves the way for Aptos to accommodate substantial use cases like streaming and autonomous payments, both vital elements for driving global economic activity on the platform.
Move Programming Language Enhancements:
Significant strides have been taken to improve the Move programming language, which underpins Aptos’ smart contract functions. The new Move Compiler v2 adds dynamic dispatch, facilitating more complex asset handling and reinforcing the security of smart contracts. These updates give developers greater adaptability and resilience when building decentralised applications.
AptosBFT v4 Consensus Protocol:
The rollout of the AptosBFT v4 consensus protocol includes reputation-based leader selection and direct validator-to-validator communication. This refined protocol enhances the network’s flexibility and dependability, providing robust security and smooth transaction validation. AptosBFT v4 also enables seamless upgrades, ensuring the network can evolve without disrupting existing dApps or requiring hard forks.
Aptos Connect Wallet:
With the launch of Aptos Connect (a sophisticated self-custodial wallet) entry barriers for new users have been significantly lowered. By incorporating standard social logins, Aptos Connect removes the complexities of managing private keys while retaining strong protection through Zero-Knowledge proofs. The wallet also provides web2-style recovery options, allowing users to regain account access should they lose their social credentials. With no need for browser extensions or mobile apps, Aptos Connect simplifies user onboarding and helps broaden adoption of Aptos-based solutions.
Developer Tools and Ecosystem Support:
Aptos remains committed to supporting developers by offering new tools and resources to streamline the creation and deployment of decentralised applications. Aptos Build, a comprehensive toolkit, enables developers of all skill levels to build and grow dApps efficiently. This includes features such as generating API keys, minting NFTs, and implementing robust identity systems, thereby reducing complexity and accelerating development timelines.
Carbon Neutral.
Climate-Conscious.
Aptos is actively pursuing carbon-negative status, setting a new benchmark in sustainable blockchain practices. Through its partnership with Flow Carbon, it offsets weekly protocol emissions, amounting to around 7.75 tonnes of CO₂ equivalent, by acquiring and retiring high-quality tokenized carbon credits directly on-chain. This arrangement also accounts for Aptos’s historical emissions, reflecting its commitment to comprehensive environmental accountability.
In its drive to achieve a carbon-negative footprint, Aptos offsets more emissions than it produces, establishing a net-positive impact that goes beyond mere neutrality. The blockchain’s leadership in sustainable operations is underlined by its transparent on-chain carbon-credit framework, energy-efficient Proof-of-Stake consensus, and the resource-efficient Move programming language.
Aptos also actively seeks feedback from its community to refine these practices further. By facilitating transparent carbon tracking, encouraging sustainable tools and frameworks, and demonstrating accountability for both current and historical emissions, Aptos exemplifies how a blockchain platform can drive environmental stewardship and set an industry-wide standard.
Aptos Key Metrics Overview
Aptos’ core activity metrics underscore the network’s significant growth and large-scale adoption. All-time cumulative active addresses have surpassed 42 million, while the total transaction count exceeds 2.1 billion. Year-to-date figures are equally impressive, with over 34 million active addresses and more than 1.7 billion transactions so far. In the past 30 days alone, Aptos has recorded nearly 10 million active addresses and processed more than 140 million transactions. These milestones highlight Aptos’ ability to handle high volumes of user engagement, reflecting both the platform’s ongoing technical innovations and its steady expansion into new markets.
Aptos’ Decentralised Finance Landscape
This bar chart, drawn from DefiLlama data as of 1 January 2025, illustrates the top protocols on Aptos by TVL, showcasing the network’s rapid DeFi expansion since early 2024.
Aries Markets leads with over $309 million in TVL, followed by Amnis Finance ($250 million) and Echo Protocol ($247 million). The presence of well-known multi-chain projects such as PancakeSwap AMM and Sushi highlights Aptos’ growing cross-chain appeal. These figures align with the timeline’s reports of surging user adoption and technical breakthroughs - like parallel execution (Block-STM), sub-second transaction latency, and the integration of key partners such as Tether, Chainlink, and Alibaba Cloud. The protocols shown here collectively demonstrate Aptos’ successful push into emerging markets, the ecosystem’s support for builders, and its continued evolution as one of the leading platforms in decentralised finance.
Aptos 2024 Review
DeFi Expansion and Major Protocols
In 2024, Aptos witnessed significant growth in decentralised finance, propelled by several prominent projects. Amnis Finance reached an impressive TVL of US$390 million, with active wallets soaring from 15,300 to 134,200, an increase of 770%. Echo, climbed to US$250 million in TVL and secured the position of the network’s third-largest protocol, thanks in part to its integration of BTC. Meanwhile, Kana Labs attracted almost three million unique users in just one month, as its Paymaster feature handled over 70 million sponsored transactions. Thala led among decentralised exchanges, surpassing US$3 billion in cumulative spot trading volume within six months and achieving a TVL of US$220 million.
Innovation Spotlight: Emojicoin
Showcasing Aptos’s commitment to innovation, the launch of Emojicoin allowed users to create and trade emoji-based tokens. Within its first month, the platform recorded 1,933 tokens minted, engaged 27,559 users, and generated US$33.6 million in trading volume, complemented by US$1 million in TVL.
Stablecoin Market Growth
Stablecoins on Aptos expanded rapidly, with their total market capitalization reaching US$320 million by November, representing a US$50 million increase within one month. This surge was largely driven by the integration of USDT and the impending launch of USDC, which collectively now represent over a quarter of Aptos’s TVL.
Ecosystem Milestones and Community Engagement
Over the course of the year, Aptos processed more than two billion transactions, realised a twentyfold increase in its TVL, and attracted nearly nine million monthly users, positioning the network to meet institutional, developer, and consumer needs in 2025. The ecosystem itself broadened from 250 to over 330 active projects spanning DeFi, gaming, and consumer applications. Community engagement also thrived, with the Aptos Collective gaining more than 60 ambassadors. Major events included the Ecosystem Summit in Palo Alto, focused on defining the year’s objectives, the DeFi Summit in Hong Kong, and “The Aptos Experience” in September, each providing a platform to foster partnerships and innovation.
Code Collision Hackathon
The Aptos Foundation’s “Code Collision” hackathon exemplified the community’s creativity and drive, drawing over 2,600 participants who submitted 650 projects. Fifty winners shared a total prize pool of US$500,000, reflecting Aptos’s continued commitment to developer support and collaboration.
Technical Advancements
Aptos introduced multiple technical upgrades throughout 2024. An on-chain randomness API launched in February, followed by Aptos Keyless and Aptos Connect in July, before culminating in the release of Move 2, Raptr, Block-STM v2, and Aptos Build later in the year. These improvements enhanced the network’s efficiency and security, paving the way for innovative initiatives like KYD Labs (blockchain-based ticketing), Overlai (digital rights management), and Econia (on-chain trading). Aptos’s high throughput capabilities were proven by processing 156 million transactions in a single day in May, escalating to 326 million in August.
Network Performance and Scalability
Alongside these technological leaps, overall developer activity surged by 96%, and daily active addresses reached 1.2 million by November. The TVL grew by 1,800%, culminating in a US$1.2 billion valuation. These metrics underscore Aptos’s robust network performance and its potential for long-term growth.
Across its DeFi ecosystem, stablecoin market, community engagement, and technical advancements, Aptos has firmly established itself as a major contributor to decentralised technology. With two billion transactions processed, a twentyfold increase in TVL, and nearly nine million monthly users, Aptos closed 2024 well-positioned to serve as one of the leading blockchain platforms in the coming year.
Conclusion
Aptos has quickly evolved into a promising Layer 1 blockchains, combining technical innovation, developer-focused tooling, and a flourishing ecosystem of DeFi, gaming, and consumer applications. In 2024, the network’s parallel execution engine (Block-STM v2), sub-second confirmation times, and next-generation Move features together delivered exceptional scalability and security, attracting a surge of users and spurring rapid growth in total value locked. By prioritising sustainable operations with a carbon-negative footprint and actively engaging its developer community (through frequent upgrades, hackathons, and major partnerships) Aptos has demonstrated its commitment to building a high-performance blockchain that can cater to diverse use cases at scale.
From decentralised exchanges and stablecoins to innovative concepts such as Emojicoin, Aptos has positioned itself as a dynamic hub for both retail and institutional adoption. Metrics like two billion total transactions, 42 million active addresses, and a twentyfold increase in TVL underscore the network’s momentum, while ongoing improvements, such as the Raptr consensus protocol and Aptos Connect wallet, ensure the project remains at the forefront of blockchain innovation. As it enters 2025, Aptos is well-prepared to solidify its standing as one of the leading platforms for cutting-edge decentralised applications and broader financial integration.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
Aptos is a Layer 1 blockchain created by Aptos Labs, established in 2021 by Mo Shaikh and Avery Ching, both formerly at Meta . Building on the technology once developed for Meta’s discontinued Diem initiative, Aptos aims to provide a highly scalable, secure, and easily upgradeable environment for decentralised applications (dApps) and smart contracts.
At its core is the Move programming language, a Rust-based framework engineered for the safe and efficient execution of smart contracts. This choice enhances security, performance, and reliability for developers. A standout feature of Aptos is its parallel execution engine, Block-STM, which processes multiple transactions simultaneously. Under optimal conditions, this architecture can handle up to 160,000 transactions per second (TPS), delivering both high throughput and low latency.
The network relies on a Proof-of-Stake (PoS) consensus mechanism, requiring validators to stake Aptos’s native APT token to participate in transaction validation and governance. This model promotes security, energy efficiency, and a fair distribution of rewards among validators. APT also serves as a means for paying transaction fees and earning staking returns.
Following its mainnet launch on 17 October 2022, Aptos has cultivated an expanding ecosystem that includes DeFi, NFTs, and gaming. Thanks to its speed, developer-friendly features, and commitment to scalability, Aptos stands as a noteworthy competitor to other Layer 1 blockchains such as Ethereum and Solana, further advancing the broader Web3 landscape.
Technical Architecture Overview
Consensus and Data Management
Aptos operates as a delegated proof-of-stake blockchain, with approximately 80% of its circulating supply staked across 135 validators.
Its core components include the AptosBFT v4 consensus protocol, Quorum Store, and the Block-STM execution engine.
- AptosBFT v4: This consensus protocol builds on Jolteon to improve communication efficiency and reduce latency by up to 33% compared to systems like Tendermint’s Hotstuff. Validators communicate directly, bypassing leaders as intermediaries, to optimise network performance.
- Quorum Store: Quorum Store separates the dissemination of transactions from their ordering. It organises transactions into batches, which are then shared across validators, reducing the workload on leaders and improving horizontal scalability. This approach enables the system to efficiently handle increasing transaction loads.
- Block-STM Execution Engine: Block-STM leverages optimistic concurrency, allowing multiple transactions to be processed simultaneously. Unlike Solana and Sui, which use pessimistic concurrency, Aptos reduces development complexity while improving throughput and performance.
Together, these components enable Aptos to handle up to 30,000 TPS in simulated environments and sustain 25,000 TPS under typical conditions. In a single day, Aptos has demonstrated the capability to process over 2.1 billion transactions.
Programming with Move
Aptos employs the Move programming language, originally developed at Meta, which offers a tailored solution for blockchain development. Move prioritises security, efficiency, and simplicity. Its design prevents common vulnerabilities, such as reentrancy attacks, and supports parallel processing, reducing the burden on developers.
Move introduces features like efficient memory management and formal verification, ensuring smart contracts are robust and error-free. Recent improvements include receiver-style function calls, user-defined abilities, and resource access controls, enhancing the developer experience. The Move Prover provides an additional layer of verification, allowing developers to validate contracts quickly and reliably.
Applications and Ecosystem Potential
High Throughput and Low Fees
Aptos’s architecture supports diverse applications, including decentralised exchanges, on-chain order books, gaming, and AI-based solutions. Its high throughput and low fees make it suitable for handling large transaction volumes. Additionally, sponsored transactions enable seamless user interactions without requiring wallets or transaction fees.
Secure Tokenization and Institutional Support
Aptos has prioritised secure tokenization through its Move language, addressing vulnerabilities commonly found in other blockchain systems. The Aptos Ascend programme, developed in collaboration with industry leaders, provides tailored solutions for secure tokenization, offering features like zk-enabled privacy, conditional transactions, and automated revenue collection. This approach caters to institutional adoption, offering customised solutions instead of relying on generic blockchain tools.
Overall, Aptos combines innovative architecture, a developer-centric programming language, and scalability to deliver a high-performance blockchain platform. Its focus on efficiency, security, and adaptability positions it as a strong contender in the development of decentralised applications and institutional blockchain adoption.
Aptos Core recent technical developments
The latter half of 2024 saw some key technical enhancements introduced to prioritize scalability, security, and developer productivity.
Sub-Second Latency and High Throughput:
Aptos has succeeded in achieving sub-second confirmation times - an essential feature for financial services that depend on instantaneous transaction processing. Alongside this rapid latency, the network also delivers high throughput, enabling large transaction volumes without any dip in reliability or security.
Block-STM v2:
Block-STM v2 represents a landmark update to Aptos’ parallel execution engine. Engineered to scale efficiently on 256-core systems, this upgrade accelerates parallel transaction processing and significantly increases overall throughput. Thanks to this adaptable architecture, Aptos is able to maintain very low gas fees (approximately US$0.00005 per transaction) even at peak network usage. Block-STM v2 has raised the bar for straightforward and secure parallel execution, encouraging notable blockchain platforms, including Polygon, Sei, Monad, and Starknet, to adopt it. These integrations emphasise Aptos’ dedication to expanding parallelism and advancing web3 capabilities.
Raptr:
Aptos plans to adopt Raptr, BFT consensus protocol. According to Aptos Labs’ Head of Research, Sasha Spiegelman, it represents the “endgame for blockchain consensus”. Raptr aims to preserve sub-second latency and high throughput even under considerable network strain. By guaranteeing both scalability and stability, this protocol paves the way for Aptos to accommodate substantial use cases like streaming and autonomous payments, both vital elements for driving global economic activity on the platform.
Move Programming Language Enhancements:
Significant strides have been taken to improve the Move programming language, which underpins Aptos’ smart contract functions. The new Move Compiler v2 adds dynamic dispatch, facilitating more complex asset handling and reinforcing the security of smart contracts. These updates give developers greater adaptability and resilience when building decentralised applications.
AptosBFT v4 Consensus Protocol:
The rollout of the AptosBFT v4 consensus protocol includes reputation-based leader selection and direct validator-to-validator communication. This refined protocol enhances the network’s flexibility and dependability, providing robust security and smooth transaction validation. AptosBFT v4 also enables seamless upgrades, ensuring the network can evolve without disrupting existing dApps or requiring hard forks.
Aptos Connect Wallet:
With the launch of Aptos Connect (a sophisticated self-custodial wallet) entry barriers for new users have been significantly lowered. By incorporating standard social logins, Aptos Connect removes the complexities of managing private keys while retaining strong protection through Zero-Knowledge proofs. The wallet also provides web2-style recovery options, allowing users to regain account access should they lose their social credentials. With no need for browser extensions or mobile apps, Aptos Connect simplifies user onboarding and helps broaden adoption of Aptos-based solutions.
Developer Tools and Ecosystem Support:
Aptos remains committed to supporting developers by offering new tools and resources to streamline the creation and deployment of decentralised applications. Aptos Build, a comprehensive toolkit, enables developers of all skill levels to build and grow dApps efficiently. This includes features such as generating API keys, minting NFTs, and implementing robust identity systems, thereby reducing complexity and accelerating development timelines.
Carbon Neutral.
Climate-Conscious.
Aptos is actively pursuing carbon-negative status, setting a new benchmark in sustainable blockchain practices. Through its partnership with Flow Carbon, it offsets weekly protocol emissions, amounting to around 7.75 tonnes of CO₂ equivalent, by acquiring and retiring high-quality tokenized carbon credits directly on-chain. This arrangement also accounts for Aptos’s historical emissions, reflecting its commitment to comprehensive environmental accountability.
In its drive to achieve a carbon-negative footprint, Aptos offsets more emissions than it produces, establishing a net-positive impact that goes beyond mere neutrality. The blockchain’s leadership in sustainable operations is underlined by its transparent on-chain carbon-credit framework, energy-efficient Proof-of-Stake consensus, and the resource-efficient Move programming language.
Aptos also actively seeks feedback from its community to refine these practices further. By facilitating transparent carbon tracking, encouraging sustainable tools and frameworks, and demonstrating accountability for both current and historical emissions, Aptos exemplifies how a blockchain platform can drive environmental stewardship and set an industry-wide standard.
Aptos Key Metrics Overview
Aptos’ core activity metrics underscore the network’s significant growth and large-scale adoption. All-time cumulative active addresses have surpassed 42 million, while the total transaction count exceeds 2.1 billion. Year-to-date figures are equally impressive, with over 34 million active addresses and more than 1.7 billion transactions so far. In the past 30 days alone, Aptos has recorded nearly 10 million active addresses and processed more than 140 million transactions. These milestones highlight Aptos’ ability to handle high volumes of user engagement, reflecting both the platform’s ongoing technical innovations and its steady expansion into new markets.
Aptos’ Decentralised Finance Landscape
This bar chart, drawn from DefiLlama data as of 1 January 2025, illustrates the top protocols on Aptos by TVL, showcasing the network’s rapid DeFi expansion since early 2024.
Aries Markets leads with over $309 million in TVL, followed by Amnis Finance ($250 million) and Echo Protocol ($247 million). The presence of well-known multi-chain projects such as PancakeSwap AMM and Sushi highlights Aptos’ growing cross-chain appeal. These figures align with the timeline’s reports of surging user adoption and technical breakthroughs - like parallel execution (Block-STM), sub-second transaction latency, and the integration of key partners such as Tether, Chainlink, and Alibaba Cloud. The protocols shown here collectively demonstrate Aptos’ successful push into emerging markets, the ecosystem’s support for builders, and its continued evolution as one of the leading platforms in decentralised finance.
Aptos 2024 Review
DeFi Expansion and Major Protocols
In 2024, Aptos witnessed significant growth in decentralised finance, propelled by several prominent projects. Amnis Finance reached an impressive TVL of US$390 million, with active wallets soaring from 15,300 to 134,200, an increase of 770%. Echo, climbed to US$250 million in TVL and secured the position of the network’s third-largest protocol, thanks in part to its integration of BTC. Meanwhile, Kana Labs attracted almost three million unique users in just one month, as its Paymaster feature handled over 70 million sponsored transactions. Thala led among decentralised exchanges, surpassing US$3 billion in cumulative spot trading volume within six months and achieving a TVL of US$220 million.
Innovation Spotlight: Emojicoin
Showcasing Aptos’s commitment to innovation, the launch of Emojicoin allowed users to create and trade emoji-based tokens. Within its first month, the platform recorded 1,933 tokens minted, engaged 27,559 users, and generated US$33.6 million in trading volume, complemented by US$1 million in TVL.
Stablecoin Market Growth
Stablecoins on Aptos expanded rapidly, with their total market capitalization reaching US$320 million by November, representing a US$50 million increase within one month. This surge was largely driven by the integration of USDT and the impending launch of USDC, which collectively now represent over a quarter of Aptos’s TVL.
Ecosystem Milestones and Community Engagement
Over the course of the year, Aptos processed more than two billion transactions, realised a twentyfold increase in its TVL, and attracted nearly nine million monthly users, positioning the network to meet institutional, developer, and consumer needs in 2025. The ecosystem itself broadened from 250 to over 330 active projects spanning DeFi, gaming, and consumer applications. Community engagement also thrived, with the Aptos Collective gaining more than 60 ambassadors. Major events included the Ecosystem Summit in Palo Alto, focused on defining the year’s objectives, the DeFi Summit in Hong Kong, and “The Aptos Experience” in September, each providing a platform to foster partnerships and innovation.
Code Collision Hackathon
The Aptos Foundation’s “Code Collision” hackathon exemplified the community’s creativity and drive, drawing over 2,600 participants who submitted 650 projects. Fifty winners shared a total prize pool of US$500,000, reflecting Aptos’s continued commitment to developer support and collaboration.
Technical Advancements
Aptos introduced multiple technical upgrades throughout 2024. An on-chain randomness API launched in February, followed by Aptos Keyless and Aptos Connect in July, before culminating in the release of Move 2, Raptr, Block-STM v2, and Aptos Build later in the year. These improvements enhanced the network’s efficiency and security, paving the way for innovative initiatives like KYD Labs (blockchain-based ticketing), Overlai (digital rights management), and Econia (on-chain trading). Aptos’s high throughput capabilities were proven by processing 156 million transactions in a single day in May, escalating to 326 million in August.
Network Performance and Scalability
Alongside these technological leaps, overall developer activity surged by 96%, and daily active addresses reached 1.2 million by November. The TVL grew by 1,800%, culminating in a US$1.2 billion valuation. These metrics underscore Aptos’s robust network performance and its potential for long-term growth.
Across its DeFi ecosystem, stablecoin market, community engagement, and technical advancements, Aptos has firmly established itself as a major contributor to decentralised technology. With two billion transactions processed, a twentyfold increase in TVL, and nearly nine million monthly users, Aptos closed 2024 well-positioned to serve as one of the leading blockchain platforms in the coming year.
Conclusion
Aptos has quickly evolved into a promising Layer 1 blockchains, combining technical innovation, developer-focused tooling, and a flourishing ecosystem of DeFi, gaming, and consumer applications. In 2024, the network’s parallel execution engine (Block-STM v2), sub-second confirmation times, and next-generation Move features together delivered exceptional scalability and security, attracting a surge of users and spurring rapid growth in total value locked. By prioritising sustainable operations with a carbon-negative footprint and actively engaging its developer community (through frequent upgrades, hackathons, and major partnerships) Aptos has demonstrated its commitment to building a high-performance blockchain that can cater to diverse use cases at scale.
From decentralised exchanges and stablecoins to innovative concepts such as Emojicoin, Aptos has positioned itself as a dynamic hub for both retail and institutional adoption. Metrics like two billion total transactions, 42 million active addresses, and a twentyfold increase in TVL underscore the network’s momentum, while ongoing improvements, such as the Raptr consensus protocol and Aptos Connect wallet, ensure the project remains at the forefront of blockchain innovation. As it enters 2025, Aptos is well-prepared to solidify its standing as one of the leading platforms for cutting-edge decentralised applications and broader financial integration.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
Aptos is a Layer 1 blockchain created by Aptos Labs, established in 2021 by Mo Shaikh and Avery Ching, both formerly at Meta . Building on the technology once developed for Meta’s discontinued Diem initiative, Aptos aims to provide a highly scalable, secure, and easily upgradeable environment for decentralised applications (dApps) and smart contracts.
At its core is the Move programming language, a Rust-based framework engineered for the safe and efficient execution of smart contracts. This choice enhances security, performance, and reliability for developers. A standout feature of Aptos is its parallel execution engine, Block-STM, which processes multiple transactions simultaneously. Under optimal conditions, this architecture can handle up to 160,000 transactions per second (TPS), delivering both high throughput and low latency.
The network relies on a Proof-of-Stake (PoS) consensus mechanism, requiring validators to stake Aptos’s native APT token to participate in transaction validation and governance. This model promotes security, energy efficiency, and a fair distribution of rewards among validators. APT also serves as a means for paying transaction fees and earning staking returns.
Following its mainnet launch on 17 October 2022, Aptos has cultivated an expanding ecosystem that includes DeFi, NFTs, and gaming. Thanks to its speed, developer-friendly features, and commitment to scalability, Aptos stands as a noteworthy competitor to other Layer 1 blockchains such as Ethereum and Solana, further advancing the broader Web3 landscape.
Technical Architecture Overview
Consensus and Data Management
Aptos operates as a delegated proof-of-stake blockchain, with approximately 80% of its circulating supply staked across 135 validators.
Its core components include the AptosBFT v4 consensus protocol, Quorum Store, and the Block-STM execution engine.
- AptosBFT v4: This consensus protocol builds on Jolteon to improve communication efficiency and reduce latency by up to 33% compared to systems like Tendermint’s Hotstuff. Validators communicate directly, bypassing leaders as intermediaries, to optimise network performance.
- Quorum Store: Quorum Store separates the dissemination of transactions from their ordering. It organises transactions into batches, which are then shared across validators, reducing the workload on leaders and improving horizontal scalability. This approach enables the system to efficiently handle increasing transaction loads.
- Block-STM Execution Engine: Block-STM leverages optimistic concurrency, allowing multiple transactions to be processed simultaneously. Unlike Solana and Sui, which use pessimistic concurrency, Aptos reduces development complexity while improving throughput and performance.
Together, these components enable Aptos to handle up to 30,000 TPS in simulated environments and sustain 25,000 TPS under typical conditions. In a single day, Aptos has demonstrated the capability to process over 2.1 billion transactions.
Programming with Move
Aptos employs the Move programming language, originally developed at Meta, which offers a tailored solution for blockchain development. Move prioritises security, efficiency, and simplicity. Its design prevents common vulnerabilities, such as reentrancy attacks, and supports parallel processing, reducing the burden on developers.
Move introduces features like efficient memory management and formal verification, ensuring smart contracts are robust and error-free. Recent improvements include receiver-style function calls, user-defined abilities, and resource access controls, enhancing the developer experience. The Move Prover provides an additional layer of verification, allowing developers to validate contracts quickly and reliably.
Applications and Ecosystem Potential
High Throughput and Low Fees
Aptos’s architecture supports diverse applications, including decentralised exchanges, on-chain order books, gaming, and AI-based solutions. Its high throughput and low fees make it suitable for handling large transaction volumes. Additionally, sponsored transactions enable seamless user interactions without requiring wallets or transaction fees.
Secure Tokenization and Institutional Support
Aptos has prioritised secure tokenization through its Move language, addressing vulnerabilities commonly found in other blockchain systems. The Aptos Ascend programme, developed in collaboration with industry leaders, provides tailored solutions for secure tokenization, offering features like zk-enabled privacy, conditional transactions, and automated revenue collection. This approach caters to institutional adoption, offering customised solutions instead of relying on generic blockchain tools.
Overall, Aptos combines innovative architecture, a developer-centric programming language, and scalability to deliver a high-performance blockchain platform. Its focus on efficiency, security, and adaptability positions it as a strong contender in the development of decentralised applications and institutional blockchain adoption.
Aptos Core recent technical developments
The latter half of 2024 saw some key technical enhancements introduced to prioritize scalability, security, and developer productivity.
Sub-Second Latency and High Throughput:
Aptos has succeeded in achieving sub-second confirmation times - an essential feature for financial services that depend on instantaneous transaction processing. Alongside this rapid latency, the network also delivers high throughput, enabling large transaction volumes without any dip in reliability or security.
Block-STM v2:
Block-STM v2 represents a landmark update to Aptos’ parallel execution engine. Engineered to scale efficiently on 256-core systems, this upgrade accelerates parallel transaction processing and significantly increases overall throughput. Thanks to this adaptable architecture, Aptos is able to maintain very low gas fees (approximately US$0.00005 per transaction) even at peak network usage. Block-STM v2 has raised the bar for straightforward and secure parallel execution, encouraging notable blockchain platforms, including Polygon, Sei, Monad, and Starknet, to adopt it. These integrations emphasise Aptos’ dedication to expanding parallelism and advancing web3 capabilities.
Raptr:
Aptos plans to adopt Raptr, BFT consensus protocol. According to Aptos Labs’ Head of Research, Sasha Spiegelman, it represents the “endgame for blockchain consensus”. Raptr aims to preserve sub-second latency and high throughput even under considerable network strain. By guaranteeing both scalability and stability, this protocol paves the way for Aptos to accommodate substantial use cases like streaming and autonomous payments, both vital elements for driving global economic activity on the platform.
Move Programming Language Enhancements:
Significant strides have been taken to improve the Move programming language, which underpins Aptos’ smart contract functions. The new Move Compiler v2 adds dynamic dispatch, facilitating more complex asset handling and reinforcing the security of smart contracts. These updates give developers greater adaptability and resilience when building decentralised applications.
AptosBFT v4 Consensus Protocol:
The rollout of the AptosBFT v4 consensus protocol includes reputation-based leader selection and direct validator-to-validator communication. This refined protocol enhances the network’s flexibility and dependability, providing robust security and smooth transaction validation. AptosBFT v4 also enables seamless upgrades, ensuring the network can evolve without disrupting existing dApps or requiring hard forks.
Aptos Connect Wallet:
With the launch of Aptos Connect (a sophisticated self-custodial wallet) entry barriers for new users have been significantly lowered. By incorporating standard social logins, Aptos Connect removes the complexities of managing private keys while retaining strong protection through Zero-Knowledge proofs. The wallet also provides web2-style recovery options, allowing users to regain account access should they lose their social credentials. With no need for browser extensions or mobile apps, Aptos Connect simplifies user onboarding and helps broaden adoption of Aptos-based solutions.
Developer Tools and Ecosystem Support:
Aptos remains committed to supporting developers by offering new tools and resources to streamline the creation and deployment of decentralised applications. Aptos Build, a comprehensive toolkit, enables developers of all skill levels to build and grow dApps efficiently. This includes features such as generating API keys, minting NFTs, and implementing robust identity systems, thereby reducing complexity and accelerating development timelines.
Carbon Neutral.
Climate-Conscious.
Aptos is actively pursuing carbon-negative status, setting a new benchmark in sustainable blockchain practices. Through its partnership with Flow Carbon, it offsets weekly protocol emissions, amounting to around 7.75 tonnes of CO₂ equivalent, by acquiring and retiring high-quality tokenized carbon credits directly on-chain. This arrangement also accounts for Aptos’s historical emissions, reflecting its commitment to comprehensive environmental accountability.
In its drive to achieve a carbon-negative footprint, Aptos offsets more emissions than it produces, establishing a net-positive impact that goes beyond mere neutrality. The blockchain’s leadership in sustainable operations is underlined by its transparent on-chain carbon-credit framework, energy-efficient Proof-of-Stake consensus, and the resource-efficient Move programming language.
Aptos also actively seeks feedback from its community to refine these practices further. By facilitating transparent carbon tracking, encouraging sustainable tools and frameworks, and demonstrating accountability for both current and historical emissions, Aptos exemplifies how a blockchain platform can drive environmental stewardship and set an industry-wide standard.
Aptos Key Metrics Overview
Aptos’ core activity metrics underscore the network’s significant growth and large-scale adoption. All-time cumulative active addresses have surpassed 42 million, while the total transaction count exceeds 2.1 billion. Year-to-date figures are equally impressive, with over 34 million active addresses and more than 1.7 billion transactions so far. In the past 30 days alone, Aptos has recorded nearly 10 million active addresses and processed more than 140 million transactions. These milestones highlight Aptos’ ability to handle high volumes of user engagement, reflecting both the platform’s ongoing technical innovations and its steady expansion into new markets.
Aptos’ Decentralised Finance Landscape
This bar chart, drawn from DefiLlama data as of 1 January 2025, illustrates the top protocols on Aptos by TVL, showcasing the network’s rapid DeFi expansion since early 2024.
Aries Markets leads with over $309 million in TVL, followed by Amnis Finance ($250 million) and Echo Protocol ($247 million). The presence of well-known multi-chain projects such as PancakeSwap AMM and Sushi highlights Aptos’ growing cross-chain appeal. These figures align with the timeline’s reports of surging user adoption and technical breakthroughs - like parallel execution (Block-STM), sub-second transaction latency, and the integration of key partners such as Tether, Chainlink, and Alibaba Cloud. The protocols shown here collectively demonstrate Aptos’ successful push into emerging markets, the ecosystem’s support for builders, and its continued evolution as one of the leading platforms in decentralised finance.
Aptos 2024 Review
DeFi Expansion and Major Protocols
In 2024, Aptos witnessed significant growth in decentralised finance, propelled by several prominent projects. Amnis Finance reached an impressive TVL of US$390 million, with active wallets soaring from 15,300 to 134,200, an increase of 770%. Echo, climbed to US$250 million in TVL and secured the position of the network’s third-largest protocol, thanks in part to its integration of BTC. Meanwhile, Kana Labs attracted almost three million unique users in just one month, as its Paymaster feature handled over 70 million sponsored transactions. Thala led among decentralised exchanges, surpassing US$3 billion in cumulative spot trading volume within six months and achieving a TVL of US$220 million.
Innovation Spotlight: Emojicoin
Showcasing Aptos’s commitment to innovation, the launch of Emojicoin allowed users to create and trade emoji-based tokens. Within its first month, the platform recorded 1,933 tokens minted, engaged 27,559 users, and generated US$33.6 million in trading volume, complemented by US$1 million in TVL.
Stablecoin Market Growth
Stablecoins on Aptos expanded rapidly, with their total market capitalization reaching US$320 million by November, representing a US$50 million increase within one month. This surge was largely driven by the integration of USDT and the impending launch of USDC, which collectively now represent over a quarter of Aptos’s TVL.
Ecosystem Milestones and Community Engagement
Over the course of the year, Aptos processed more than two billion transactions, realised a twentyfold increase in its TVL, and attracted nearly nine million monthly users, positioning the network to meet institutional, developer, and consumer needs in 2025. The ecosystem itself broadened from 250 to over 330 active projects spanning DeFi, gaming, and consumer applications. Community engagement also thrived, with the Aptos Collective gaining more than 60 ambassadors. Major events included the Ecosystem Summit in Palo Alto, focused on defining the year’s objectives, the DeFi Summit in Hong Kong, and “The Aptos Experience” in September, each providing a platform to foster partnerships and innovation.
Code Collision Hackathon
The Aptos Foundation’s “Code Collision” hackathon exemplified the community’s creativity and drive, drawing over 2,600 participants who submitted 650 projects. Fifty winners shared a total prize pool of US$500,000, reflecting Aptos’s continued commitment to developer support and collaboration.
Technical Advancements
Aptos introduced multiple technical upgrades throughout 2024. An on-chain randomness API launched in February, followed by Aptos Keyless and Aptos Connect in July, before culminating in the release of Move 2, Raptr, Block-STM v2, and Aptos Build later in the year. These improvements enhanced the network’s efficiency and security, paving the way for innovative initiatives like KYD Labs (blockchain-based ticketing), Overlai (digital rights management), and Econia (on-chain trading). Aptos’s high throughput capabilities were proven by processing 156 million transactions in a single day in May, escalating to 326 million in August.
Network Performance and Scalability
Alongside these technological leaps, overall developer activity surged by 96%, and daily active addresses reached 1.2 million by November. The TVL grew by 1,800%, culminating in a US$1.2 billion valuation. These metrics underscore Aptos’s robust network performance and its potential for long-term growth.
Across its DeFi ecosystem, stablecoin market, community engagement, and technical advancements, Aptos has firmly established itself as a major contributor to decentralised technology. With two billion transactions processed, a twentyfold increase in TVL, and nearly nine million monthly users, Aptos closed 2024 well-positioned to serve as one of the leading blockchain platforms in the coming year.
Conclusion
Aptos has quickly evolved into a promising Layer 1 blockchains, combining technical innovation, developer-focused tooling, and a flourishing ecosystem of DeFi, gaming, and consumer applications. In 2024, the network’s parallel execution engine (Block-STM v2), sub-second confirmation times, and next-generation Move features together delivered exceptional scalability and security, attracting a surge of users and spurring rapid growth in total value locked. By prioritising sustainable operations with a carbon-negative footprint and actively engaging its developer community (through frequent upgrades, hackathons, and major partnerships) Aptos has demonstrated its commitment to building a high-performance blockchain that can cater to diverse use cases at scale.
From decentralised exchanges and stablecoins to innovative concepts such as Emojicoin, Aptos has positioned itself as a dynamic hub for both retail and institutional adoption. Metrics like two billion total transactions, 42 million active addresses, and a twentyfold increase in TVL underscore the network’s momentum, while ongoing improvements, such as the Raptr consensus protocol and Aptos Connect wallet, ensure the project remains at the forefront of blockchain innovation. As it enters 2025, Aptos is well-prepared to solidify its standing as one of the leading platforms for cutting-edge decentralised applications and broader financial integration.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
