Aptos community votes to approve AIP-17, significantly improving gas efficiency and lowering gas fees

04/12/2023 14:56 • Crypto & Markets • 71 views

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

The crypto industry has been facing challenges in recent years due to the increasing gas fees on the Ethereum network. Layer 1 network Aptos has found a solution to this problem by introducing an efficient gas data structure that will have a significant impact on transaction costs. According to the announcement on social media by Aptos, its community has voted to approve the AIP-17 proposal. This proposal will bring about a significant improvement in gas efficiency and lower gas fees for users.

Understanding AIP-17

The Aptos Improvement Proposal (AIP)-17 aims to improve gas efficiency on the platform by introducing an efficient gas data structure. Execution gas usage will increase by 100 times, and 90% of transactions will increase by at least 90 times. This change will improve the user experience on the platform, especially for users who carry out a lot of transactions.

Efficient Gas Data Structure

Aptos has introduced an efficient gas data structure through intelligent vectors and smart tables. This new structure aims 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.

Impact on Gas Fees

The implementation of AIP-17 will significantly reduce gas fees on the Aptos network. Users will enjoy a lower transaction cost when carrying out their activities on the platform. This change will make the platform more attractive to users and increase its overall adoption.

Unlocked Tokens

According to data provided by Aptos, about 4.5 million Aptos native tokens APT will be unlocked in the near future. This announcement is significant for users who hold these tokens as it is expected to increase its overall value in the market.

Conclusion

The approval of AIP-17 by the Aptos community is a significant milestone in the crypto industry. It shows that innovative solutions can be used to solve the challenges facing the industry. The new gas data structure will improve user experience on the platform and reduce transaction costs. The unlocked tokens will also provide more opportunities for users to benefit from their investments.

FAQs

1. What is AIP-17?
AIP-17 is a proposal that aims to improve gas efficiency on the Aptos network by introducing an efficient gas data structure.
2. What is the impact of AIP-17 on gas fees?
The implementation of AIP-17 will significantly reduce gas fees on the Aptos network, making it more attractive to users.
3. How will the unlocked tokens affect the market?
The unlocking of the Aptos native tokens APT is expected to increase its overall value in the market.

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