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Comprehensive interpretation of public chain Aptos: opportunities and challenges under the first-mover advantage

2022-08-05 17:34

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Original title: "Wanzi Interpretation of Public Chain Aptos: Opportunities and Challenges under the First Mover Advantage"

Original author: AppleJ, CryptoJ researcher

Since the public chain project Aptos was officially exposed in February this year, it has been attracting market attention because of its background in the Facebook team. With the support of the "star team background halo", the capital side threw out a high olive branch. On July 25, Aptos completed a new round of financing of 150 million US dollars. Up to now, the total public financing amount has reached 3.5 Billion US dollars, in a quiet market, Aptos joined hands with Sui, Linera and other projects to set off a wave of "Meta System Layer1" discussions.

Aptos has obtained hundreds of millions of financing progress and sufficient market attention before the mainnet is online, but Compared with the relatively mature Layer1 public chains represented by BSC, Solana, Avalanche, Fantom, Near, etc., it is still in the early stage of development. CryptoJ will conduct a brief discussion based on public information from the basic situation of the Aptos project, ecological development, technology network progress, development planning and other aspects. The research content of this article is for reference only and does not constitute investment advice.

Summary of the highlights of this article, TL;DR:

Part 1: From the basic positioning of Aptos, the important events since its development, the establishment of time nodes, and the background of the main team , public financing and other aspects to introduce the basic situation of Aptos;

Part Two: DeFi, NFT, wallet, infrastructure , Web3 and other modules to sort out Aptos’ existing ecological projects and its main social media popularity;

Part III: from Explore the current network and technology progress of Aptos in terms of Move language, state synchronization, incentive testnet, parallel execution engine, BFT consensus protocol, blockchain core stack of technology roadmap;

Part Four: Discuss the future development of Aptos from five aspects: the actual implementation of the main network, the competition of the public chain track, the Meta-type competition network, network value capture and learning costs. potential uncertainties.

1. Basic situation of Aptos

1.1 Project Brief

Aptos was initiated by former team members of Facebook (later renamed Meta) Stablecoin project Diem (formerly Libra) The Layer1 public chain project aims to build the safest and most scalable Layer1 blockchain.

Aptos( Ohlone, which means "The People (The People)"), contains its mission and ethos, why build, vision is to create universal and equitable access to decentralized assets for billions of people. The Web3 stack is huge and rich, from smart contract platforms to developer infrastructure and tools, wallets, and decentralized applications. In the coming years, expect to form partnerships with ecosystem players to improve the entire space.

Aptos strongly believes that the user experience needs to be significantly improved in terms of security and scalability to reach To the general public (especially non-native users of the cryptocurrency industry).

1.2 History of Aptos

Tracing the development history of Aptos so far, we have to mention the predecessor of the team members Meta (formerly Facebook).

Meta (formerly Facebook)'s stablecoin project Diem was acquired by Silvergate

January 31, 2022, Crypto infrastructure provider Silvergate publishes Announcement states that it has acquired the technology and other assets of the Meta Stablecoin project Diem (formerly Libra) to enhance its existing Stablecoin infrastructure.

Under the terms, Silvergate will manage the reserve and issue its own "regulated and highly scalable" USD Stablecoin, which is scheduled to launch before the end of this year. The assets acquired by Silvergate include the development, deployment and operation of related infrastructure and operational tools to support a blockchain payments network that facilitates commercial payments and cross-border remittances.

Aptos has entered the market publicly, the founder and other team members are all from Diem
b>

On February 24, 2022, Aptos published an article entitled "The Genesis of Aptos (Aptos origin)” blog article entered the market’s field of vision, The author of this article is Mo Shaikh, the former Diem main contributor builder, who also speaks as the co-founder and CEO of Aptos.

Mo Shaikh states in this blog post: “We are not starting from scratch.”“We Diem original creators, researchers, designers, and builders for which the original blockchain was built. While the world never gets to see what we build, our work is far from over."

“Aptos will be based in part on public technology that we have developed over the past three years. Aptos uses secure and reliable language Move. The ideas we conceived at the time are still relevant and will serve as an important foundation for a secure, scalable, upgradeable Web3. Our move Centralized and permissionless access initiatives are progressing rapidly and will be developed in the open."

Aptos Completes $200 Million Financing

March 15, 2022 , Aptos completed $200 million financing, which was led by a16z Leading the round, Multicoin Capital, Katie Haun, ParaFi Capital, IRONGREY, Hashed, Variant, Tiger Global, BlockTower, FTX Ventures, Paxos, Coinbase Ventures, etc. participated.

In addition to the participating institutions announced above, according to CoinDesk Report, payment giant PayPal on 5 On March 31, it was confirmed that PayPal Ventures, its venture capital arm, was one of the investors in the $200 million financing round of Aptos. This investment is the first Layer 1 public chain invested by PayPal Ventures /b> item.

Binance Labs announces strategic investment in Aptos

On March 28, 2022, Binance Labs announced Strategic investment public chain project Aptos development team Aptos Labs , will work closely with Aptos on development, code reviews, infrastructure builds and hackathons. However, the specific round and amount of this round of financing have not yet been publicly disclosed.

Aptos Launches Incentivized Testnet

May 14, 2022, Aptos Officially launch the incentive testnet, participating users need to use a valid Discord or GitHub account for identity verification, and deploy validators to join the testnet. Registration ends at 5:00 Beijing time on May 20, 2022, and test invitations will be issued at 3:00 May 24 Beijing time.

Aptos Launches Ecosystem Funding Program

June 29, 2022, Aptos Announces Ecosystem Funding Program provides funds for teams, individuals and creators to accelerate the development of the Aptos ecosystem. Funding categories include: developer tools, SDKs, libraries, documentation, guides, and tutorials; tools and frameworks for development, governance, DeFi, and NFT; core protocol contributions: Token standards, libraries, protocol upgrades, etc.; open source and public products; Educational Initiatives; Applications. According to Aptos, the grant funds will be distributed in USD, and may choose to distribute tokens in the future to help incentivize long-term ecosystem growth for all parties.

Aptos Incentivized Testnet 2 Registration Open

July 1, 2022, Aptos Announces Incentivized testnet 2 registration is open, the registration deadline is July 7 and the notification will be issued on July 11. The testnet will go live from July 12th to July 22nd. Participants to be tested should join the testnet within 24 hours of being notified.

The Aptos team will airdrop enough test coins to the selected participants, and the participants who complete the test will get 500 coins Aptos Token rewards. Aptos Test Reward Tokens will only be available to non-US participants and will be issued after a successful mainnet launch with a minimum one-year lock-up period.

Aptos completed a new round of financing of 150 million US dollars

July 25, 2022, Aptos Announces Closing of $150 MillionNew Round of Funding, FTX Ventures and Jump Crypto led the round, and other investors included Griffin Gaming Partners, Franklin Templeton, Circle Ventures and Superscrypt, a16z crypto and Multicoin Capital, among others.

The main network is expected to be launched in autumn

Aptos at the end of June at official blog, Pontem Network, the Macalinao brothers, Nutrios, PayMagic, MartianDAO, Solrise and other teams are already writing code and preparing to release the Aptos mainnet at the end of September.

But on August 1 The official blog updated the progress of the Aptos Incentivized Testnet 2 and pointed out that it is expected that the mainnet will be launched in autumn , after the mainnet goes live, Testnet 4 will be launched in winter. At the same time, the official update on the progress of the incentive test network 2 pointed out that in the completed test network 2, a total of 225 nodes participated in the test, distributed in 110 cities in 44 countries around the world. Aptos will issue Aptos Token rewards to participants in Incentivized Testnet 2 who meet certain conditions.

The key time nodes for other updates are as follows:



AIT3 Registration - August 19th
Code Freeze - August 25th
AIT3 Launch - August 30th
p>
AIT3 End - September 9th
Mainnet Launch - Autumn
AIT4 - Winter

1.3 Team Background< /h4>

Aptos Many key team members come from Meta, for example, Aptos Co-founder and CTO Avery Ching and Mo Shaikh were both main builders of Diem and Novi.

In addition, most of the developers and researchers such as Alden Hu in the development team participated in the development of Diem and Novi. Aptos team members have rich experience in large-scale development and deployment, and at the same time continue the familiar Move language, which helps to further extend and enhance the stability and security of the underlying code of Aptos to a certain extent.

Alden Hu, Alin Tomescu, David Wolinsky and many othersby PhDs, researchers, engineers , Designers and Strategists as additional team members. At present, the number of team members is about 60, and the number is still expanding. CryptoJ organizes the profiles of some team members based on LinkedIn and other public information as follows:

Mo Shaikh - Founder & CEO

Mo Shaikh, Founder and CEO, Aptos, was responsible for strategic partnerships at Meta from May 2020 to December 2021, prior to October 2017 Founder and CEO of Meridio until May 2020, a blockchain-based platform for investing and trading liquid fractional real estate.

Mo Shaikh, source: LinkedIn

Avery Ching——Founder&CTO
Avery Ching, Founder & CTO of Aptos, Avery Ching has been a Chief Software Engineer at Facebook for more than 10 years from September 2011 to December 2021 , and is the technical director of the Novi team, an encryption platform under the original Meta, focusing on the development of various aspects of blockchain technology, and is also responsible for maintaining the Diem blockchain. From October 2007 to September 2011, worked as a chief software engineer at Yahoo.

Avery Ching, Source: LinkedIn

Josh Lind - Founding Engineer
Josh Lind, the founding engineer of Aptos, is engaged in the research of Layer1 blockchain technology. Before that, was a research scientist working on the Diem blockchain at Novi. Completed a PhD in the Large-Scale Data and Systems (LSDS) group and the Center for Cryptocurrency Research and Engineering (IC3RE) at Imperial College London. The PhD focuses on improving security and privacy in large-scale distributed systems using trusted hardware.

Josh Lind, source: LinkedIn

Alin Tomescu - Researcher
Alin Tomescu, Aptos founding team member and researcher, was awarded a master's degree in computer science and a doctor of philosophy by MIT, and has more than six years of research experience at MIT , and focuses on aspects of cryptography, public keys, authenticated data structures, secure communications, and secure web applications.
Alin Tomescu, source: LinkedIn

David Wolinsky - Software Engineer
David Wolinsky, Software Engineer at Aptos, was previously the Technical Lead for Web3 at Meta, working in various organizations and teams to help shape many strategic technical and product initiatives. Prior to that, worked on the Diem blockchain for almost two years, including designing governance and genesis procedures, establishing security infrastructure plans and principles, and defining integration with Diem. Prior to joining Novi, was Facebook's Tech Lead/Manager responsible for Facebook's advertising growth. Previously, he was a research scholar at Yale University.

David Wolinsky, source: LinkedIn

Alden Hu - Software Engineer
Alden Hu, Software Engineer at Aptos Labs, Senior Software Engineer at Novi from February 2019 to February 2022, previously Worked for Instagram and Baidu.

Alden Hu, source: LinkedIn

Rati Gelashvili - Researcher
Rati Gelashvili, Aptos Founding team researcher, Ph.D. from MIT, with extensive expertise in concurrency, parallel and distributed algorithms and data structures, worked as a senior research scientist at Novi from May 2020 to January 2022.

Rati Gelashvili, source: LinkedIn


1.4 Financing situation

As of July 2022 On March 27th, Aptos completed a total of 350 million US dollars in financing, of which a16z (Andreessen Horowitz), FTX Ventures, and Multicoin Capital have participated in two rounds of financing.

2. Development status of Aptos

2.1 Ecological development

According to Aptos' blog article introduced that its ecology currently has more than 100 projects built on the network, with use cases covering DeFi, NFT, games, etc. From the perspective of ecological layout, Aptos still focuses on infrastructure construction, and the deployment scenarios are mostly products such as wallets, DEX and lending agreements. However, judging from the current public information in the market, most of the Aptos ecological projects are still in the relatively early stage of continuous development, and some projects are still under development. The development of the Aptos native project on the 27th is as follows:

DeFi

1.Econia
Econia is a super parallel built on the Aptos public chainOn-Chain Order Book, and more specifically, Econia is a Central Limit Order Book (CLOB), a basic financial instrument used by financial institutions such as the The difference is that Econia is open source and decentralized.
Econia is currently under development, and its V1 version will introduce a key innovation for on-chain transactions - the Econia atomic matching engine, which enables finality of market order settlement during transactions.
Related link: https://www.econialabs.com/ 
https://twitter.com/EconiaLabs

2. NjordFinance

NjordFinance is on AptosLending protocol to unlock security and diversification strategies that generate yield.

Related links: https://twitter.com/NjordFinance

3. Pontem Network

Pontem is a product development studio dedicated to enabling global financial inclusion through blockchain. Pontem partnered with Aptos to build base DAPPs and other infrastructure such as development tools, EVMs, AMMs, etc. The Pontem team has developed a Diem-Move fork virtual machine that can be easily deployed to other public chains such as Polkadot, Cosmos, Avalanche, etc. Pontem also makes Move VM compatible with traditional virtual machines like EVM for easy deployment using Solidity or Vyper code bases.

The Pontem team developed the first AMM-based DEX—Liquidswap and wallet MultiMask on the Aptos chain .

Related links: https://pontem.network/

4.Zaptos

Zaptos is built A non-custodial liquidity staking protocol on the Aptos chain. Users can deposit their assets into Zaptos and receive IOU derivatives, which can be used in DeFi protocols built on the Aptos chain or other Dapps. The vision of Zaptos is to increase network decentralization and make stakers’ locked assets productive on-chain. The goal of Zaptos is to make the pledged APTOS Token flow through zAPTOS, and distribute APTOS among multiple validators at the same time, so as to improve the anti-censorship ability of the network.

Related links: https://twitter.com/ZaptosFinance

5. Thala Labs

An efficient Stablecoin project built using the Move language.

Related links: https://twitter.com/ThalaLabs

6.Aries Markets

A decentralized margin trading platform built on Aptos.

Related links: https://twitter.com/AriesMarkets

7.EMPO

EMPO is a DEX built on Aptos.

Related links: https://twitter.com/Empo_Fi

8. Laminar

Laminar is a fully decentralized DEX built on Aptos.

Related links: https://laminar.markets/

9.Vial

Vial is a A pooled interest rate protocol that allows users to borrow and lend assets on the Aptos chain. The lending rate is determined algorithmically based on the capital pool utilization rate (the ratio of borrowed assets to supplied assets). Vial has released the testnet on its official website, and users can connect their wallets to claim test coins for experience testing.

Related link: https://www.vial.fi/

10. ultima
Ultima is a liquidity protocol built on Aptos.

Related links: https://twitter.com/ultimaprotocol

11.seam.aptos

Stablecoin revenue platform built on Celo and Aptos.

Related links: https://www.seam.money/ app

12.Hanson

AMM-based DEX built on Aptos.

Related links: https://twitter.com/hansondotso

NFT

1.Topaz

Topaz is an NFT market on the Aptos chain, which can create, browse and trade NFT.

Wallet

1.Martian

Martian Wallet can be used to manage digital assets and access Dapps on the Aptos chain, and also supports minting NFT on the Aptos development network. Martian Wallet currently provides a Chrome extension version, and plans to provide an IOS version soon.

Related links: https://martianwallet.xyz/

2. Fewcha

Fewcha is Aptos A non-custodial wallet on the chain, its functions include supporting Token listing and trading, as well as the casting and transfer of NFT. The plug-in version of the Chrome browser is currently online, and the project plans to release the mobile Dapp of the ios and Android versions in the fourth quarter of 2022.

Infrastructure

1.Hippo Labs

Hippo Labs is the aggregation layer on the Aptos chain, providing Aptos ecological developers with Compiler, SDK, and framework-level tools to dramatically increase their productivity. More aptly, Hippo is described as an aggregation mechanism - utilizing a user-friendly front-end that gives users direct access to the best pricing and lending rates across multiple indices and currency markets.

Hippo is currently developing and building a transaction aggregator, open source Swap protocol (including constant product exchange, stable curve exchange, piecewise constant product exchange), Move to Typescript Transpiler, transaction Simulate API, Aptos-wallet-adapter and other functions and components.

Related links: https://hippo.space/

https://medium.com/ @hippolabs/introducing-hippo-the-aptos-aggregation-layer-caefc1a7fc2d

2. Nutrios

Nutrios is a privacy project on Aptos, which is still in the early development stage.

Related links: https://www.nutrios.co/< /a>

3. Aptosphere

Aptosphere indexes Aptos' on-chain activities in real time, providing developers with a fast and friendly API interface.

Web3

1. names.aptos

The domain name service provider (ANS, Aptos Name Service) on the Aptos chain , ANS is a smart contract that maps names to Aptos addresses. Users who apply for a name in names.aptos will get a special NFT, which gives the user the sole right to edit the address of that name. This NFT is composable and can be bought, sold and traded as needed.

In addition to the above projects, Solana and other ecological projects and developers have also joined the Aptos ecosystem to participate in development and construction, such as Saber, Wormhole, Solrise, Dialect, Notifi, Switchboard, Paymagic and other projects.

Austin Former Solana Marketing Executive July 19 Announced on Twitter that he has joined the public chain project Aptos as the ecosystem director and will officially start working next month. Much of Austin's career at Web3 has been focused on incubating and scaling global communities and teams.

2.2 Aptos Social Media Popularity

< h3>3. Aptos Network and Technology Progress

3.1 Move language

Move is a smart contract language originally developed by Facebook . Move is a A next-generation language for secure, sandboxed, and formally verified programming. Its first use case was the Diem blockchain, for which Move provided the foundation for its implementation. Move allows developers to write programs that flexibly manage and transfer assets while providing security and protection from attacks on those assets. However, Move was also developed with use cases outside of the blockchain environment in mind.

3.1.1 Aptos blockchain and Move language were developed simultaneously more than three years ago

Move from Rust by using a resource type with move (hence the name) semantics as an explicit representation of a digital asset (e.g. currency) Take inspiration from (https://www.rust-lang.org/).

The Move language is designed for secure resource management and verifiable execution on the blockchain. Execution of transactions is deterministic, closed and metered. Determinism and closure mean that the output of a transaction execution is fully predictable and based only on the information contained in the transaction and the current ledger state. Metering is a important defense against denial of service attacks at the transaction execution level.

The Move validator can formally verify properties of Move modules through an expressive specification language fast enough as a continuous integration Part of the test runs. Move resources, inspired by linear types, statically ensure that resources are preserved and not copied or accidentally destroyed -- completely avoiding a class of potential attacks.

According to Aptos Founder & CTO Avery Ching Statement, "The Aptos blockchain and Move language were developed concurrently over three years ago. Accounts, transaction fees, standards Libraries, validator node management, and configuration are all implemented with Move. We love the security of Move and are excited to help build a broad ecosystem around it.”

3.1.2 Four main goals of the Move language

The design of the Move language tries to solve the problem of protection of digital assets from the perspective of programming language. The Move language sets four main goals: protection of first-class resource types (Frist-Clase Resources), flexibility, security, and statically verifiable.

Move language introduces a "first-class resource type protection ( Frist Class Resources)", simply put, the first-class resource type is first a variable type, and then specifies the variable of this type:

Cannot be copied

Cannot be implicitly destroyed

Only in different program addresses "Move "

Flexible design, Move bytecode can be executed directly, or call other published The Modules code can call multiple programs in one transaction, and can flexibly implement transfers to multiple people in one transaction.

Safety and verifiable design, the Move coding system provides targeted security protection for resources . Move resources cannot be copied, reused or destroyed. A resource type can only be created or destroyed by the module that defines its type. Move virtual machine will pass Static bytecode verification, and reject programs that fail bytecode verification to ensure its security.

Transfer Diagram, Source: White Paper

3.2 Aptos Status Synchronization

Aptos in a paper called "The Evolution of State Synchronization: Achieving 100k+ TPS per second with a latency of less than 1 in Aptos The topic of State Synchronization is introduced in the blog post of Second Road, the Aptos blockchain utilizes a wide range of new technologies to ensure high-throughput, low-latency proofs in a decentralized network. state synchronization. In Aptos, peers can verify and sync over 10k TPS with sub-1 second latency, and Aptos is already moving towards 100k+ TPS.

3.2.1 What is state synchronization?

State synchronization is an important but often overlooked aspect of blockchain design. Most blockchains are hierarchical, with an active set of validators at the core of the network. Validators evolve the blockchain by executing transactions, producing blocks, and reaching consensus. Other peer nodes in the network (e.g., full nodes and clients) replicate blockchain data (e.g., blocks and transactions) generated by validators. State synchronization is a protocol that allows non-validating nodes to distribute, verify and persist blockchain data and ensure that all nodes in the ecosystem are in sync.

< blockquote style="text-align: center;">Aptos Ecosystem (Overview)

3.2.2 Importance of State Synchronization

When evaluating blockchain State synchronization is rarely mentioned, however, state synchronization has a significant impact on blockchain performance, security, and user experience. Consider the following:

1. Completion time and user experience

2. Relationship to consensus

3. Impact on decentralization

4. Data correctness

3.2. 3 Goals of State Synchronization

With a general model, several basic Goal:

1. High throughput

2. Low latency

3 .Fast boot time

4. Resistant to faults and malicious actors

5. Tolerant of resource constraints and heterogeneity

3.3 Incentivized Testnet

Aptos has conducted two rounds of incentivized testnets so far. The goal of AIT-1 is to prove that the Aptos community can unite to deploy and maintain a decentralized network. With AIT-2, start preparing to become a reliable node operator and test the staking and node reputation framework.

AT1 (Incentivized Testnet 1): Decentralized Launch

Start time on May 14th

Invitations sent on May 24th

Number of participants: 100

Success Criteria

– Successfully started node and passed liveness check within 24 hours

– Availability exceeds 95%

Reward (non-US participants only): per 500 Aptos Token for successful participants

Main Outcome

– registration and tracking site will be available before IT1 starts

– initially limited to 100 Validator (will be expanded in later phases)

– Decentralized web startup tools using GitHub – Documentation for running production-grade validators

Goals

– Decentralized Network Execution Using GitHub/Genesis Tools

– Testnet Completion Measured by Aptos Stay Online and Participate

AIT2: Staking

Launch time: July 1

Testnet End Time: July 22

Main Achievements

- Test coins support staking and staking rewards

- Go Centralized faucet support

– update the gas schedule, e.g. improve and document the cost of each operation in a transaction to make transaction costs predictable

In the closed Testnet 2, there were more than 225 community nodes, 26 of which were operated by Aptos and Aptos partners. These nodes are located in 44 countries and 110 cities around the world.

The rewards are as follows:

– Full reward: 500 Aptos Token, For those who meet all the official conditions

– Partial reward: 300 Aptos Token for those who can achieve at least 50% in terms of activity and participation and other criteria

– Reward: 200 Aptos Tokens for each of the following criteria:

Top 10% and upgraded at least once

Operators who keep their nodes in remote locations while meeting all the above requirements . Because they help better understand the nuances of how decentralized node distribution affects performance

Operators who have done a fantastic job of helping identify critical issues and making significant contributions

Note: Due to regulatory considerations, Aptos Token can only be provided to non-US participants. Any rewards related to the incentivized testnet will only be provided after the successful launch of the mainnet, and any tokens provided will have a minimum one-year lock-up period.

AIT3: Governance and Escalation

Estimated number of participants: 1000

Success Criteria

– Successful start within 12 hours of node start time Node and passes liveness check

– Availability > 97% – Successfully participated in standard network upgrade, 2 day response time – Successfully participated in patch network upgrade, 12 hour response time

– Among the top 75% of consensus participants (consensus voting)

Reward (non-US participants only):

– Top 3 voting nodes each get 5000 , 2500 and 1000 Aptos Token

– 500 Aptos Tokens for each successful participant

AIT3 Registration-August 19th

AIT3 Launch- August 30

AIT3 End - September 9

AIT4: Dynamic Validator Topology

Estimated number of participants: 1000+

Success Criteria

- Node successfully started and passed liveness check within 12 hours of node startup time

- Other criteria are still being determined

Reward (non-US participants only): 500 Aptos Token for each successful participant, additional rewards are under consideration

3.4 Parallel Execution Engine

Aptos at an official blog , Aptos designed and implemented an efficient, multi-threaded, in-memory parallel execution engine by leveraging a preset transaction order and combining software transactional memory techniques with novel collaborative schedules.

Aptos implements Block-STM in an open source code base, relying on Rayon, Dashmap and ArcSwap crates for concurrency. The system was evaluated using non-trivial peer-to-peer move transactions (8 reads and 5 writes).

In the figure below, Aptos compares Block-STM with sequential execution of blocks. Each block contains 10k transactions, and the number of accounts determines the degree of conflict and contention. In low-contention cases, Block-STM archiving is 16x faster than sequential execution using 32 threads, while in high-contention cases, Block-STM archiving is more than 8x faster. Importantly, Block-STM incurs a small amount of overhead when the workload is sequential in nature. Overall, Block-STM is able to extract inherent parallelism from workloads dynamically and transparently (without user prompting). A detailed comparison with related work can be found in the paper.

Block STM performance at different levels

3.5 BFT Consensus Protocol

The Aptos team has developed a production-grade, low-latency Byzantine Fault Tolerant (BFT) engine. Over the past three years, 4th iteration (state-of-the-art HotStuff derivative). During this time, the consensus protocol was upgraded in a private mainnet environment with diverse operators and zero downtime.

Aptos for BFT protocol Article One implementation adds an active pacer that uses a timeout to synchronize validators much faster than waiting for an increased timeout. With recent improvements to the protocol, blocks can be submitted in as few as two network round trips, making sub-second finality a common occurrence.

Aptos novel reputation system analyzes on-chain state and automatically updates leader rotation to accommodate unresponsive validators without any human intervention, making it ideal for decentralized environments. Furthermore, Aptos' protocol clearly separates liveness from safety. Regardless of whether the network is unreachable or the non-secure core is compromised in some way, as long as the BFT honesty guarantee is maintained, the chain will not fork. The security of the consensus protocol has been audited and formally verified .

3.6 Technology Roadmap - Blockchain Core Stack

According to Aptos Community via GitHub repository The technical roadmap for tracking issues is as follows:

Networking

On-chain discovery of full nodes - no more advertising

Improved network topology, e.g. distinguishing upstreams , Downstream, and Peers

DDoS Mitigation and Assessment for Validators - Attacks from Downstream Full Nodes and Validators

Inline health checks to reduce unnecessary overhead on the network stack

Consensus

Dynamic validator set, subcommittee

Remove legacy consensus code

Deep security rule integration via reference model to minimize replication overhead

Query keys via environment variables or configuration parameters

Secure Data Storage in Consensus Database (rocksdb)

Storage

Fine-grained storage - the current model utilizes Blob storage to limit the maximum storage capacity of a single account, including native table extensions

CRSN (Conflict Resistant Sequence Number) - uses windows of eligible sequence numbers instead of sequential Field

Storage economics, anti-state explosion. Gas and state eviction

Performance benchmarking and improvements, including per-block rather than per-transaction state authentication structure maintenance

State synchronization

Use latest state and state output deltas instead of transactions for synchronization

for endpoint backups and recovery adapters, such as AWS S3 buckets

Intelligent, performance aware, and role in consensus (validator set or follower) between consensus and state synchronization

Mempool

Improved transaction serialization and stickiness, including parallel support for same account transactions

Eliminate or restrict validators from broadcasting transactions

Executor

Enables parallel execution of transactions

Reduce the merkle tree update granularity from transactions to blocks

Remove the execution correctness trusted computing library

virtual Machine (VM) / Framework

Stricter enforcement of mutability of modules, e.g. temporarily freezing versions and leaving open governance to enable it

Error types or richer errors from non-core framework modules

Modern gas schedule that maps to actual usage

Supports parallelizable sequence numbers , which allows "out-of-order" transaction execution for a single account, also known as an anti-collision sequence number

Operation Tool

Validator and full node creation and registration

Key and address rotation

Cooperative backup and recovery with state synchronization

Deep Health Checker

Retrieve and print managed node information

Retrieve and print on-chain information for nodes

Validate full node/validator deployments, e.g., Running a standalone testnet

Smart Contracts and Framework

Proof of Stake, Delegate and Reward

Governance/DAO Upgrade Framework Replace Root Account

DeFi or Swap App

Performance Tuning

Using perf to evaluate waste and apply valuable changes between validators and full nodes

Unified Tokio executor To reduce contention

Fourth, potential uncertainties in future development

The "star halo" above the head, Aptos, which is favored by mainstream head institutions, has already The veil has just been revealed, but the technology, projects, white papers and other information that can be disclosed at present and the actual implementation situation remain to be seen. In addition, there are still some potential uncertain factors in the future development of the public chain.

< /h4>

4.1 The actual landing of the mainnet

Aptos will inevitably be exposed in the two rounds of incentive testnet For certain problems, such as node panic, state synchronization blocking, high traffic, etc., the sooner the problem is discovered, the easier it is for the official to solve the problem as soon as possible.

According to the official roadmap, there are 4 rounds of Aptos incentive testnet, namely:

AIT1: Decentralized Launch

AIT2: Staking

AIT3: Governance and Upgrade

AIT4: Dynamic Validator Topology

However, the two rounds of testnets that have been carried out and the environment of the future mainnet There are still differences. Due to the adjustment of test nodes, number of people, and configuration, although the security of the core functions may be ensured, it still does not rule out possible problems after the mainnet goes online.

At the same time, in the upcoming AIT3/AIT4, you may encounter certain technical problems and adjustments, which may affect the original mainnet The scheduled launch time will affect the progress of some related ecological projects. Also, Aptos, which is in beta, still lacks a lot of regular user engagement.

4.2 Competition on the public chain track

The public chain track has always been the most challenging and the best place to carry value. With the rapid explosion of applications such as DeFi, NFT, and Web3, the narrative and conceptual aspects of the public chain are market Of course, the public chain track competition has never stopped.

A breakdown of the development of public chain tracks, from BSC, Solana, Avalanche, Fantom, Near, Avalanche, to Terra, one Another public chain not only showed a good answer in the secondary market price, but also ushered in vigorous development in ecology, driving a small climax of a new public chain.

But among the public chains with a TVL of more than 10 billion US dollars, currently only Solana is not compatible with Ethereum, although Aptos is also trying to get out of the A public chain development path with its own characteristics, despite this, for example, Framework co-founder Vance Spencer and others questioned on Twitter: "Did Aptos do anything that solana didn't?".

Solana's extreme burst is exciting, and its fast enough speed and performance also bring a good user experience, but The centralization problem seems to be difficult to gain the trust of some developers. Whether Aptos can complete the task of the "impossible triangle" of the public chain while being decentralized, sufficiently secure, and maintaining high performance remains to be seen. observe.

< h4>4.3 Meta-type competition network

There are public chain projects that belong to the Meta-type like Aptos Sui As well as Linera, the founders of the three public chains all came from Meta, and the team members used to be the main creators and core developers of Diem and the encrypted wallet Novi, and a16z both participated in the investment.

Similar to Aptos, Sui also continues Libra's Move development language, but Sui is in the original version (Core Move) has made certain improvements.

Informed sources revealed that Sui development team Mysten Labs is Seeking to raise at least $200 million in Series B financing at a $2 billion valuation, led by FTX Ventures, with at least $140 million committed to date. Mysten Labs has previously raised $36 million in Series A financing, also led by a16z, with participation from Coinbase Ventures, NFX, Slow Ventures, Scribble Ventures, Samsung NEXT, and Lux Capital.

As early as November last year, Mysten Labs completed a US$36 million Series A financing led by a16z , Coinbase Ventures, NFX, Slow Ventures, Scribble Ventures, Samsung NEXT, Lux Capital, etc. participated in the investment.

In terms of network progress, Sui is currently openIncentivized testnet registration, verifiers, developers, Sui enthusiasts can apply to participate. The Sui Foundation will reward 2,000 SUI for each testnet "wave" that validators participate in, and promises to pledge up to 10% of the supply of Sui Token to the best-performing validators who continue to participate in the Sui mainnet. SUI Token rewards are only provided after the Sui protocol mainnet goes live, and have a one-year lock-up period.

In addition, in the current public Project information, white paper version, Sui has already valued its network, technology, and Token Capture and other aspects are described in more detail.

Another "Meta system" Layer1 blockchainLinera announced the completion of a $6 million seed round The financing was also led by a16z, with participation from Cygni Capital, Kima Ventures and Tribe Capital. Funds raised will be used to hire engineers and team members to build the protocol. Linera founder and CEO Mathieu Baudet is a former Meta employee who helped Meta create Libra.

From the current development of the three public chains, Aptos has a slight advantage in terms of ecology and progress, but due to the three public chains There is a great deal of overlap in terms of background, technology, and institutional support, and the future progression of similar competition remains to be seen.

4.4 Network value capture

Because Aptos has not yet published an official white paper, it is impossible to find detailed information about network and Token value capture. On the other hand, when investment institutions such as a16z and FTX Ventures raise the valuation of Aptos, there is In the case of relatively concentrated bargaining chips, under the background of capital, market maker power and high valuation, the performance of the Token secondary market is still unknown.

4.5 Learning costs

Although the Move language is very innovative, the new language will also increase a certain amount of learning costs. In addition, it will take a certain amount of time to relearn and build in terms of ecological security, auditing, and infrastructure development. How does Aptos attract more people? Developers come to build the future of the ecology together, and it is still an inevitable problem to ensure sufficient security of upper-layer applications.

5. Summary

On the whole, Aptos has a great first-mover advantage in terms of technology accumulation, development team, capital support, and narrative direction. Applications in the field of application.

Relying on the basic bottom layer, Aptos tries to break through the previous layout of the public chain, in terms of network performance, ability to handle transactions, security, Speed, decentralization and other aspects are promoted together to create a new definition of public chain.

Aptos is still in the rapid development stage, including community, ecology, white paper, network, main network, etc. Therefore, there may inevitably be some potential uncertain factors, but with its unique advantages, the market still has high hopes for the future of Aptos.