Crypto Aptos Boss, Mo Shaikh: Kind Of Frustrated Seeing Big Company Bahas Web3 But Doing Nothing

JAKARTA - The founder of crypto Aptos (APT), Mo Shaikh recently revealed that his party will have a number of important innovations for the Aptos blockchain project next year.

The statement was made by Mo Shaikh in an interview with Scott Melker, a crypto influencer. Furthermore, Shaikh explained developments to come for Aptos. One of them is to provide decentralized financial services or DeFi.

"There are some really cool DeFi things that will soon be shown that take advantage of not only things like Move, but also parallel transaction processing. So, you know, central limit order books, AMM (automatic market makers), DEX (decentralized bursts) - all of these things will be really cool to keep an eye on Aptos, "said Mo Shaikh.

"It will be a step of change in innovation relative to everything we have seen in previous blockchain generations. So we look forward to that," said founder of Aptos.

The Aptos network uses a programming language called Move, originally created for Diem, an abandoned Meta crypto project. The aptos aims to advance Diem's original goal of creating fast and measurable blockchains.

Aptos for Web3

Mo Shaikh assessed that his party would conduct a number of testing and piloting related to Web3. The reason is, he is frustrated to hear a number of giant companies discuss Web3 but are doing nothing to develop it.

"Another thing that we focus on is, well, a bit frustrated to hear big companies talk about Web3, but don't really do anything," said Shaikh.

"And partly because, [they think] 'good, we're going to do a little bit of a pilot and do some testing here, but we know that this doesn't really work for millions of people. So we don't take the risk of bringing all of our users to layer two or layer one," he continued.

About Aptos

Aptos is a Proof-of-Stake (PoS) blockchain that uses a new smart contract programming language called Move, Rust-based programming language developed independently by blockchain engineer Diem Meta (formerly Facebook).

Aptos has a vision of becoming a blockchain that brings mainstream adoption to web3 and empowers the DApps ecosystem to solve real-world users' problems. The PoS blockchain can achieve throughput of theoretical transactions of more than 150,000 transactions per second (tps) through parallel execution.

According to a CoinMarketCap report, in March 2022, Aptos raised $200 million in an early round led by venture capital firm Andreessen Horowitz (a16z). Other crypto heavyweights such as Tiger Global and Multicoin Capital took part in the funding round. Then in July, the startup raised another 150 million US dollars in a Series A round led by FTX Ventures Sam Bankman-Fried and Jump Crypto.

Two months later, Binance Labs made an undisclosed strategic investment in Aptos, bringing its valuation to $4 billion in September. On October 18, 2022, Aptos announced the launch of the mainnet, while the Aptos genesis was announced on October 12, 2022.