Aptos: AIP-17 has been approved and gas efficiency will be significantly improved
On April 12th, according to the announcement on social media by Layer 1 network Aptos, its community has voted to approve the AIP-17 proposal, which will significantly improve gas
On April 12th, according to the announcement on social media by Layer 1 network Aptos, its community has voted to approve the AIP-17 proposal, which will significantly improve gas efficiency and lower gas fees. Execution gas usage will increase by 100 times, and 90% of transactions will increase by at least 90 times. Aptos also introduced the gas efficient data structure through intelligent vectors and smart tables to improve the gas storage footprint, while reducing overall execution costs. When storing and executing gas are coupled, decoupling can safely change execution costs without affecting storage, further reducing gas costs. In addition, data shows that about 4.5 million Aptos native tokens APT will be unlocked in the near future.
Aptos: AIP-17 has been approved and gas efficiency will be significantly improved
I. Introduction: Aptos Community Approval of AIP-17 Proposal
II. Overview of AIP-17 and Its Benefits
III. How AIP-17 Improves Gas Efficiency
A. Execution Gas Usage Increase
B. Transaction Speed Increase
C. Gas Efficient Data Structure
IV. Decoupling Execution and Storage to Reduce Gas Costs
V. Future APT Tokens Unlocking
VI. Conclusion
VII. FAQs
Article
On April 12th, the Aptos community, an on-chain decentralized finance (DeFi) project and layer-1 network, announced its approval of the AIP-17 proposal. This proposal will lead to significant improvement in gas efficiency and lower gas fees on the network. In this article, we will discuss the details of the proposal, how it works, and its benefits.
Overview of AIP-17 and Its Benefits
The AIP-17 proposal is a set of technical changes that the Aptos network will implement to improve its performance. The primary goal of the proposal is to reduce gas fees and increase network efficiency. Generally, every transaction in a blockchain network requires a certain amount of gas. The gas fees are essential to maintaining network security and incentivizing miners in Proof-of-Work networks or validators in Proof-of-Stake networks. However, high gas fees have been a significant obstacle to expanding DeFi and blockchain adoption by average users.
With the implementation of AIP-17, the Aptos network expects transaction speeds to increase by at least 90 times, and the gas usage for execution to increase by over 100 times. This significant reduction in gas fees is expected to encourage more users to use the network without worrying about high transaction costs.
How AIP-17 Improves Gas Efficiency
The AIP-17 proposal aims to improve the gas efficiency of the Aptos network by introducing a “gas-efficient data structure.” This approach reduces the gas required for storage, hence reducing the overall execution costs. The developers designed the Aptos network to use “intelligent vectors” and “smart tables” to improve the gas storage footprint, resulting in significant benefits.
#Execution Gas Usage Increase
One of the primary benefits of AIP-17 is the increased execution gas usage. The proposal introduces several technical changes that allow the network to execute many transactions in a short time without increasing gas fees. The improved execution gas usage will also lead to a faster confirmation of transactions, providing a better user experience for network users.
#Transaction Speed Increase
Alongside improved execution gas usage, transactions on the Aptos network will increase in speed. The Aptos network currently relies on the Proof-of-Stake consensus algorithm, popular due to its feature of no energy-intensive mining. Therefore the network is faster than most other blockchain networks. AIP-17 will improve the network’s performance further and possibly provide the network with the fastest transaction speeds in the industry.
#Gas Efficient Data Structure
To support the improved execution and transaction speed, the Aptos network introduces a new “gas efficient data structure” that reduces overall execution costs. By storing and executing gas separately, they can reduce the gas costs of the network. With this innovation, they can further reduce gas fees, enabling new users and businesses to affordably interact with the network.
Decoupling Execution and Storage to Reduce Gas Costs
The coupling of execution and storage in smart contract and blockchain programming means that gas costs for storage and execution increase together. Decoupling execution and storage means separating execution from storage to reduce the overall gas fees for transactions. This feature is introduced through AIP-17 and will contribute to reducing the gas costs of the Aptos network. With this feature, the network can safely reduce execution costs without affecting storage.
Future APT Tokens Unlocking
According to available data, approximately 4.5 million Aptos native tokens, APT, will be unlocked in the near future. This unveiling will provide more liquidity to the market and increase the value of APT in the long run. The additional tokens will also allow more people to engage with the network, resulting in increased adoption rates.
Conclusion
In conclusion, the Aptos network’s adoption of AIP-17 is a significant step towards improving its performance, reducing gas fees, and increasing adoption. With the increased execution gas usage and transaction speed, businesses and users can create applications without worrying about high transaction costs. The future unlocking of APT tokens also brings more liquidity to the network and increases the value of APT.
FAQs
1. How does the AIP-17 proposal differ from other proposals?
A: The AIP-17 proposal is unique because it improves network performance without adding new features, hence increasing gas costs.
2. How will AIP-17 improve transaction confirmation on the Aptos network?
A: AIP-17 increases execution gas usage, which will help confirm transactions faster and ensure the network is operating smoothly.
3. What is the significance of Smart Tables in the AIP-17 proposal?
A: Smart Tables help improve gas storage efficiency by using an innovative data structure, allowing transactions to be executed with a smaller gas requirement.
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