Aptos Network Community Approves AIP-17 Proposal for Improved Gas Efficiency and Lower 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

The Aptos network recently announced on social media that its community has approved the AIP-17 proposal, which promises to significantly improve gas efficiency and lower gas fees. This is a major development for Aptos and its users, as execution gas usage is set to increase by 100 times while 90% of transactions will experience at least a 90-times increase.

The AIP-17 Proposal

The AIP-17 proposal is aimed at addressing the gas fee issue in a way that benefits both the platform and its users. Execution or transaction fees on the network have often been criticized for being high, which can lead to a reduced number of users that are willing to pay the fees. This is where the AIP-17 proposal comes in.
The proposal introduces a gas efficient data structure through intelligent vectors and smart tables to improve the gas storage footprint, while reducing overall execution costs. Specifically, this will decouple the storage and execution of gas, which can safely change execution costs without affecting storage, further reducing gas costs for users.

The Key Benefits

One of the significant benefits of the new proposal is improved gas efficiency. As mentioned earlier, execution gas usage will increase by 100 times, which means transactions will be faster and cheaper. This is an improvement in transaction speed as well as cost efficiency.
The proposal also promises to lead to a significant reduction in gas fees by 90%. This will result in more people using the platform, benefiting the Aptos network in the long term.

The Role of Aptos Native Tokens

Aptos native tokens, APT, have been designed to play a vital role in the Aptos network ecosystem. In addition to being a primary means of value exchange, they are also used for paying gas fees on the network.
With respect to the recent proposal, data shows that about 4.5 million Aptos native tokens are set to be unlocked in the near future. It is expected that unlocking these tokens will lead to further improvement in gas efficiency and lowered gas fees, benefiting the Aptos community in the long term.

Conclusion

The approval of the AIP-17 proposal by the Aptos network community signifies a major step towards improving gas efficiency and lowering gas fees on the network, leading to a better experience for its users. The decoupling of storage and execution of gas, coupled with the introduction of gas-efficient data structure, will improve transaction speed and cost efficiency, leading to more people using the platform in the long term.

FAQs

1. What is gas in the context of blockchain networks?
– ‘Gas’ is a term used in the context of blockchain networks to describe the fee paid to miners or validators in the network to execute or validate transactions.
2. What are native tokens?
– Native tokens are cryptocurrencies that are exclusive to a particular blockchain network and can be used as a means of value exchange or for paying fees on the network.
3. How can Aptos’ proposal improve gas efficiency without affecting storage?
– Aptos’ proposal involves decoupling the storage and execution of gas, which changes execution costs without affecting storage, leading to improved gas efficiency and lowered gas fees.