Aptos Community Approves AIP-17: Significantly Improving Gas Efficiency And Lowering Gas Fees

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

Introduction

On April 12th, Aptos, a Layer 1 network, announced on social media that its community voted to approve the AIP-17 proposal. The approval is a significant milestone in the Aptos network’s quest to enhance gas efficiency and lower gas fees. The proposal will increase execution gas usage by 100 times, and 90% of transactions will increase by at least 90 times. The Aptos team has also introduced a gas-efficient data structure that uses intelligent vectors and smart tables to improve the gas storage footprint and reduce execution costs. Decoupling storage and execution also enhances efficiency and brings down gas costs.

What is Aptos Network?

The Aptos network is a community-driven platform that focuses on scalability, security, and decentralization. It is built on top of the Ethereum blockchain and provides developers with a range of tools to develop and deploy decentralized applications. The Aptos network has its native token, APT, which is used for various purposes, including transaction fees and staking to contribute to network security.

The AIP-17 Proposal

The AIP-17 proposal aims to enhance the gas efficiency and lower gas fees in the Aptos network. The proposal has the following features:

Increase Execution Gas Usage by 100 Times

The Aptos team has optimized the code execution process, leading to a 100X increase in execution gas usage. This optimization will help increase transaction throughput and make the network more responsive to applications’ needs.

Transaction Processing Speed Increased by 90X

The Aptos network has introduced a smart contract that reduces the time required to process transactions by at least 90 times. This improvement will lead to higher transaction throughput and make the network more scalable.

Introduction of Gas-Efficient Data Structure

The Aptos team has introduced a gas-efficient data structure that uses intelligent vectors and smart tables. This data structure optimizes the gas storage footprint and reduces execution costs, making the network more efficient.

Decoupling Storage and Execution

By separating storage and execution, Aptos has come up with a way to change execution costs without affecting storage. This decoupling also helps to further reduce gas costs.

APT Token Unlocking

According to data available, about 4.5 million Aptos native tokens will be unlocked shortly. This development will undoubtedly impact the market and might lead to increased demand for the token, leading to appreciation in its value.

Conclusion

Aptos network’s AIP-17 proposal represents a significant milestone in the network’s quest to enhance gas efficiency and lower gas fees. The proposal’s introduction will lead to a more efficient network, increased transaction throughput, and lowered gas fees. With the unlocking of the Aptos native token, the network might experience an increase in demand, leading to an increase in its value.

FAQs

1. What is the Aptos network?
Ans. The Aptos network is a community-driven platform that focuses on scalability, security, and decentralization.
2. What is the AIP-17 proposal?
Ans. The AIP-17 proposal aims to enhance the gas efficiency and lower gas fees in the Aptos network.
3. What are the benefits of the AIP-17 proposal?
Ans. The benefits of the proposal include increased execution gas usage, increased transaction processing speed, and the introduction of a gas-efficient data structure.