The Aptos Ecosystem is just beginning in dawn of the High-Throughput Era with Avery Ching | EP #110
Jan 2, 2024
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Avery Ching, CTO of Aptos Labs and Co-Founder of Aptos, discusses the significance of high throughput in blockchain, progress made in the Aptos ecosystem, the new version of the VM with parallel processing improvements, challenges in establishing industry standards, and addressing misconceptions about the Aptos ecosystem.
High throughput is crucial in blockchain to provide a good user experience and avoid delays or failed transactions.
Aptos has made significant progress since its launch, attracting developers, forming partnerships, and introducing new products.
Aptos supports Move, a programming language that offers stronger security and stability for Web3 assets, making it attractive to developers.
Deep dives
Importance of High Throughput in Blockchain
To efficiently serve a large customer base and provide a good user experience, high throughput is crucial in blockchain. Without it, transactions can be delayed, fail, or never complete. While Layer 2 solutions have traditionally focused on scaling out other stacks, they often result in ecosystem fragmentation and suboptimal experiences when managing assets across different ecosystems. However, networks like Aptos prioritize high throughput, demonstrating peak transaction rates of up to 30,000 transactions per second, which is the highest in the industry.
Progress and Upgrades in the Aptos Ecosystem
Since launching its network in October 2022, Aptos has made significant progress. They have formed a core team, attracted hundreds of developers, and witnessed massive partnerships with companies like Lotte and Microsoft. The developers in the ecosystem have had a major role in shaping the technology. Their feedback and requests have led to the implementation of new language features, such as higher-order functions, improvements in framework upgrades, and the introduction of token V1 and V2 standards to meet developers' needs. Aptos has also introduced new products, like Graphio, an interactive art drawing canvas that received an overwhelming response with over 600,000 wallets simultaneously participating.
The Advantages of Move and Aptos for Web3 Assets
Move, the programming language developed by Meta and used in the Aptos ecosystem, offers unique advantages for Web3 assets. It focuses on preventing common programming mistakes in smart contracts and provides stronger security and stability. Move has gained traction among developers and is viewed as a potential predominant programming language for Web3 assets due to its protections and ability to quickly iterate and upgrade. Aptos supports the full functionality of Move, including move-proof covering all objects in the ecosystem. This trustworthiness and developer-friendly experience have attracted developers and highlighted the benefits of building on the Aptos network.
High throughput is crucial for efficient blockchain usage
One of the main ideas discussed in the podcast is that high throughput is essential for enabling efficient usage of the blockchain. Without high throughput, transactions are delayed or fail, limiting the scale of applications that can be built on top of the blockchain. High throughput also helps to address the issue of increasing prices as throughput limits are reached, allowing a larger number of applications to be usable. The importance of high throughput for large enterprises and the need for confidence in building and developing blockchain applications were emphasized.
Preview net and reproducible benchmarks play a role in performance testing
The podcast also highlights the significance of preview net and reproducible benchmarks in performance testing. The development process at Aptos involves thorough testing, including code reviews, unit tests, regression tests, and various performance-based testing. Preview net is an exercise in which performance tests and drills are conducted to simulate the network in terms of staking distribution, node operators, and geographical distribution. The podcast shares the impressive results of preview net, such as reaching peaks of 30,000 transactions per second and sustaining over two billion transactions in a single 24-hour period. NFT minting was also tested and achieved high throughputs. The importance of standardized benchmarks and reproducibility in the blockchain industry is emphasized.
