Two veteran blockchain developers are attempting to build the next big blockchain at Aptos Labs using the doomed Diem technology. The project has the support of venture capital firm A16z, big tech partners, and is the subject of a $1 billion lawsuit.
The project, which is being led by the two meta vets, aims to create a new blockchain that is faster, more efficient, and more secure than existing systems. The team is using the technology developed by Diem, which was previously known as Libra, as a starting point for their efforts.
Diem was a controversial project that was backed by Facebook and a consortium of major companies. However, it faced regulatory hurdles and backlash, leading to its eventual demise. Despite this, the meta vets believe that the technology developed by Diem has the potential to be the foundation for a successful blockchain, and they are working to build on this foundation at Aptos Labs.
The project has the support of A16z, a well-known venture capital firm, as well as big tech partners. However, it is also the subject of a $1 billion lawsuit, which could potentially impact its success. It remains to be seen how this ambitious project will fare, but it is certainly one to watch as it develops.