APT
APTOS Layer-1 Blockchain Updates: Enhanced Security and Lower Transaction Costs
By
Soumen Datta
April 12, 2023
1
MINS
With its AIP-17 release, Aptos has introduced major improvements to gas usage, resulting in reduced overall execution costs.
Enhancing Security, Token Unlocks and More
The Aptos chain has been making waves in the world of blockchain technology since its inception, thanks to its unique blend of features and functionalities that promise to revolutionize the space.
Recently, there have been a number of updates and developments on the Aptos chain that have strengthened its position as one of the most innovative blockchain solutions on the market.
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Aptos is a layer-1 blockchain that utilizes key elements of the former Diem blockchain and Move, a Rust-based programming language independently developed by Meta. Lets take a closer look at some of the most recent updates and developments on the Aptos chain:
Aptos joined with auditors Otter Sec, Halborn Security, and Move Bit to perform ‘rigorous’ testing on the network.
According to Aptos, important improvements have been made to type safety, Move VM, and the Aptos framework due to the collaboration.
2. Aptos maintains a bounty program to work together with the community. Multiple attacks were reported through the bug bounty program and converted into a test.
4. Through its AIP-17 release, Aptos introduced major improvements to gas usage that allow users to see an improvement in execution gas usage of 100x, with at least a 10x improvement on 90% of transactions.
Execution charges can now be altered without affecting storage-further reducing gas costs. In addition, Aptos has reduced overall execution costs.
5. Aptos unlocked 0.5% of its supply (50 million tokens) at 00:00 UTC on April 12. Aptos ($APT) gained 10.9% ahead of the token unlock between April 9 and April 11.
Aptos has a total volume locked of $66.7 million, with PancakeSwap dominating 33.7%. Aptos ($APT) is trading at 11.25, down 3.25% in 24 hours, with a market cap of $2.033 billion.
What is Aptos:
Aptos is a new, independent project focused on delivering the world’s safest and most production-ready Layer 1 blockchain. The team includes the original creators, researchers, designers, and builders of Diem, the blockchain first built to serve this purpose.
Where to find Aptos Labs:
Website | Twitter | Telegram | Medium | Discord |
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Author
Soumen Datta
Soumen Datta
Soumen is an experienced writer in cryptocurrencies, DeFi, NFTs, and GameFi. He has been analyzing the space for the last several years and believes there is a lot of potential with blockchain technology, even though we are still at an early stage. In his spare time, Soumen enjoys playing his guitar and singing along. Soumen holds bags in BTC, ETH, BNB, MATIC, and ADA.
