{"id":486231,"date":"2022-03-17T10:03:05","date_gmt":"2022-03-17T10:03:05","guid":{"rendered":"https:\/\/wncen.com\/?p=486231"},"modified":"2024-06-11T14:18:32","modified_gmt":"2024-06-11T14:18:32","slug":"former-facebook-employees","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/former-facebook-employees\/","title":{"rendered":"Former Facebook Employees Get $200 Million To Create Blockchain System For Aptos"},"content":{"rendered":"

This year, Silvergate Capital paid $182 million for Diem’s technology assets, bringing an end to Facebook’s plan to build a crypto payments network.<\/p>\n

The deal underscores how the social network giant, now Meta, has just a limited number of regulatory-approved options for becoming a prominent player in the blockchain space.<\/p>\n

These well-known investors participated in a strategic investing round, which was led by investors including Tiger Global, Multicoin Capital, Katie Haun\u00a0and Coinbase Ventures.<\/p>\n

Blockchain System For Aptos<\/h2>\n

Aptos, a project founded by ex-Facebook employees who just left the firm in December, has already received unicorn money from Andreessen Horowitz and other prominent web3 investors.<\/p>\n

Aptos Chief Executive Officer Mo Shaikh said in a recent blog post:<\/p>\n

“We are the founders, researchers, designers, and builders of Diem, the first blockchain developed for this purpose\u2026 while the rest of the world never saw what we produced, our job is far from done.”<\/p><\/blockquote>\n

Aptos has disclosed\u00a0that it has raised $200 million in capital\u00a0from Tiger Global, Katie Haun, Multicoin Capital, 3 Arrows Capital, FTX Ventures, and Coinbase Ventures to pursue its goal of establishing a blockchain scalability system.<\/p>\n

Another prominent first-round investor is Silvergate Capital, while the Aptos team assures that they will not license or use any of Silvergate’s Diem IP as they develop their blockchain.<\/p>\n

Related Article | Gloomy Crypto Future? Book Author Warns We\u2019re In The Biggest Bubble In History<\/a><\/em><\/strong><\/p>\n

<\/p>\n

Crypto total market cap at $1.78 trillion on the daily chart | Source: TradingView.com<\/a><\/pre>\n
No Direct Link With Facebook<\/h2>\n
However, some in the crypto industry are skeptical of implementing Facebook’s web3 vision, even though Diem proponents like Andreessen Horowitz may rally behind a group aiming to take up the effort.<\/p>\n
“To be clear, we have no official connection with Facebook and no funding from them,” Shaikh said.<\/p>\n
As a result, Aptos sees another challenge in recruiting developers. Move, an open-source programming language developed by Meta, is being used to lure new developers to the company.<\/p>\n
The Aptos Devnet<\/h2>\n
Instead of building on top of existing decentralized networks like Ethereum or Solana, Aptos will create its own decentralized network from the ground up.<\/p>\n
Additionally, Aptos launched its “devnet,” which will allow developers to explore and build on the Aptos blockchain before its public release, which the company expects to take place in the third quarter this year.<\/p>\n
The fundamental objective of Aptos is to develop a blockchain that is more scalable, faster, and has cheaper transaction fees than the current major networks.<\/p>\n
Customers that are interested in embracing blockchain technology should expect a more stable and dependable network from the project’s developers.<\/p>\n
Related Article | Abra CEO Predicts Ethereum Could Reach $40,000 \u2013 But Some Fintech Analysts Don\u2019t Agree<\/a><\/em><\/strong><\/p>\n
Featured image from SiliconANGLE, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
This year, Silvergate Capital paid $182 million for Diem’s technology assets, bringing an end to Facebook’s plan to build a crypto payments network. The deal underscores how the social network giant, now Meta, has just a limited number of regulatory-approved options for becoming a prominent player in the blockchain space. These well-known investors participated in a strategic investing round, which was led by investors including Tiger Global, Multicoin Capital, Katie Haun\u00a0and Coinbase Ventures. Blockchain System For Aptos Aptos, a project founded by ex-Facebook employees who just left the firm in December, has already received unicorn money from Andreessen Horowitz and other prominent web3 investors. Aptos Chief Executive Officer Mo Shaikh said in a recent blog post: “We are the founders, researchers, designers, and builders of Diem, the first blockchain developed for this purpose\u2026 while the rest of the world never saw what we produced, our job is far from done.” Aptos has disclosed\u00a0that it has raised $200 million in capital\u00a0from Tiger Global, Katie Haun, Multicoin Capital, 3 Arrows Capital, FTX Ventures, and Coinbase Ventures to pursue its goal of establishing a blockchain scalability system. Another prominent first-round investor is Silvergate Capital, while the Aptos team assures that they will not license or use any of Silvergate’s Diem IP as they develop their blockchain. Related Article | Gloomy Crypto Future? Book Author Warns We\u2019re In The Biggest Bubble In History Crypto total market cap at $1.78 trillion on the daily chart | Source: TradingView.com No Direct Link With Facebook However, some in the crypto industry are skeptical of implementing Facebook’s web3 vision, even though Diem proponents like Andreessen Horowitz may rally behind a group aiming to take up the effort. “To be clear, we have no official connection with Facebook and no funding from them,” Shaikh said. As a result, Aptos sees another challenge in recruiting developers. Move, an open-source programming language developed by Meta, is being used to lure new developers to the company. The Aptos Devnet Instead of building on top of existing decentralized networks like Ethereum or Solana, Aptos will create its own decentralized network from the ground up. Additionally, Aptos launched its “devnet,” which will allow developers to explore and build on the Aptos blockchain before its public release, which the company expects to take place in the third quarter this year. The fundamental objective of Aptos is to develop a blockchain that is more scalable, faster, and has cheaper transaction fees than the current major networks. Customers that are interested in embracing blockchain technology should expect a more stable and dependable network from the project’s developers. Related Article | Abra CEO Predicts Ethereum Could Reach $40,000 \u2013 But Some Fintech Analysts Don\u2019t Agree Featured image from SiliconANGLE, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":486238,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12436,83386,3],"tags":[85692,1020,6664,84121,1985],"class_list":["post-486231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai-and-tech","category-crypto","category-news","tag-aptos","tag-blockchain","tag-crypto","tag-diem","tag-facebook"],"acf":[],"yoast_head":"\nFormer Facebook Employees Get $200 Million To Create Blockchain System For Aptos<\/title>\n<meta name=\"description\" content=\"This year, Silvergate Capital paid $182 million for Diem's technology assets, bringing an end to Facebook's plan to build a crypto payments network. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Former Facebook Employees Get $200 Million To Create Blockchain System For Aptos","url":"http:\/\/wncen.com\/news\/former-facebook-employees\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/former-facebook-employees\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Facebook.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Facebook.png?fit=1400%2C766"},"articleSection":"AI and Tech","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["aptos","blockchain","crypto","diem","facebook"],"dateCreated":"2022-03-17T10:03:05Z","datePublished":"2022-03-17T10:03:05Z","dateModified":"2024-06-11T14:18:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Former Facebook Employees Get $200 Million To Create Blockchain System For Aptos\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/former-facebook-employees\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/former-facebook-employees\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Facebook.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Facebook.png?fit=1400%2C766\"},\"articleSection\":\"AI and Tech\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"aptos\",\"blockchain\",\"crypto\",\"diem\",\"facebook\"],\"dateCreated\":\"2022-03-17T10:03:05Z\",\"datePublished\":\"2022-03-17T10:03:05Z\",\"dateModified\":\"2024-06-11T14:18:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Facebook.png?fit=1400%2C766","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/486231"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=486231"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/486231\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/486238"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=486231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=486231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=486231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}