In-depth Analysis of the Aptos Ecosystem: Technical Competitiveness, Adoption Status, Risk Factors, Key Indicators @Aptos is a high-performance Layer 1 blockchain that aims to maximize performance through parallel execution and a modular structure while building a developer-friendly ecosystem. This network is designed around the Move language and the Block-STM execution engine, seeking differentiation in the highly competitive performance blockchain space. Aptos's core competitiveness lies in its modular structure and dynamic parallel processing capabilities. It is designed to operate transaction propagation, block metadata sorting, parallel execution, batch storage, and ledger certification simultaneously, providing excellent scalability and efficiency. The Block-STM engine analyzes dependencies between transactions in real-time to maximize parallel execution, while the Raptr consensus protocol aims for ultra-low latency consensus based on DAG. Additionally, the Move language, based on Rust, enhances resource management and formal verification, increasing the security of smart contracts. In terms of latency optimization, a combination of pipeline structure and sharding technology has achieved up to a 40 percent reduction in latency through the parallelization of the block generation process. The horizontal expansion using Shardines demonstrates the capability to process one million transactions per second in an environment with 30 shards. Aptos also integrates with LayerZero, Stargate, and Chainlink CCIP, supporting asset transfers across more than 60 chains, and has been recognized for its technical appeal, being chosen as the first non-EVM deployment target by major DeFi protocols like Aave and Sushi. However, the maturity of the developer ecosystem remains a challenge. The unfamiliarity of the Move language compared to Solidity or Rust and the lack of compatibility with external infrastructure act as initial barriers. Improvements have been made in bridging and liquidity through LayerZero and CCIP integration, but issues such as liquidity concentration of certain assets and disruptions in user experience remain problematic. In terms of community scalability, strategies focused on education and incentives are being implemented to overcome the strong inertia of the EVM ecosystem and developer dependency. On-chain usage is rapidly increasing. In May 2024, the daily transaction count surpassed 156 million, and by December 2024, the number of active wallets reached 4.1 million. DeFi transaction volume increased 28 times year-on-year, exceeding an average of $20 million per day, and the circulation of stablecoins also surged. However, some unnatural activities due to short-term reward events or airdrop campaigns have been included, leading to a drop in the pure voluntary user retention rate to around 25 percent in Q2 2025. The risk factors are clear. While the network has proven high performance, there is a risk of bugs during frequent upgrades, as seen in the five-hour outage case in October 2023. Additionally, over 40 percent of the network is concentrated in centralized hosting environments like AWS and Hetzner, posing limitations in terms of censorship resistance. The accumulation of state data due to surges in transaction volume may also pose long-term scalability risks. Key indicators for assessing the maturity of Aptos include DeFi TVL, stablecoin market size, DEX trading volume, number of active validators, user retention rate, and governance participation rate. The TVL, which was $120 million at the end of 2023, surpassed $1.1 billion in Q1 2025, and the market capitalization of stablecoins grew more than 20 times in a year. However, the level of validator decentralization and governance participation rate remain low, necessitating further decentralization to enhance network resilience. In conclusion, Aptos is a next-generation Layer 1 with strengths in high performance through modular architecture and parallel processing engines, security through the Move language, and rapid upgrade capabilities. However, the lack of developer friendliness, liquidity concentration, declining user retention rates, and validator centralization remain ongoing risk factors. For Aptos to establish itself as a sustainable ecosystem in the future, strategic execution that transitions its technical advantages into real-world use and expansion of the developer ecosystem will be key.