Aptos deep dive: Block-STM parallel execution, Move security and ecosystem data
Thread1,001 words
Data-driven thread on Aptos covering AptosBFT consensus, Block-STM parallel execution, key rotation and transaction pre-execution, then ecosystem TVL, DEX volume and developer stats. Argues Move chains are the next execution layer wave and Aptos leads Sui on dev adoption.
Key claims
Time to finality under 1 second
Aptos has more than 2x the repos, weekly devs and commits of Sui
Lending protocols and liquid staking drove TVL growth
Parallel Move L1 capable of processing >150k txs at sub-second finality
Team born out of @Meta's Diem that raised >$350M in funds from @a16z & other giants
Growing DeFi ecosystem with unmatched UX & built-in security at a language level
Data-driven alpha š§µ on @Aptos t.co/r6Y7s2Kw7b
1/ Every bull run comes with novel execution layers that see major waves of growth and that become the home of thriving ecosystems.
While we have seen this with alt-EVM L1s like @BNBChain or @Avalanche's C-Chain in the past, last cycles best example is probably @Solana.
2/ This time will be no different a family of execution layers that I'm watching closely in this context is the Move-based ones, led by @aptos.
Today, I will walk you through the tech, the ecosystem and some data points around @aptos.
Ready for alpha anon? š
3/ @Aptos is a high-performance L1 built with Move, an open-source programming language developed by @Meta's Diem Association team.
It's designed to create customizable transaction logic & smart contracts and is based on Rust.
4/ Move boasts a high level of security & expressivity.
It allows devs to avoid mistakes that could lead to exploits, while minimizing gas fees compared to other chains like Ethereum.
5/ @Aptos retains the core features of Move, with special designs based on its own project characteristics.
Leveraging the full functionality of the MoveVM, which includes parallelism, massive speed and unparalleled UX options.
Let me unpack this.š
6/ @Aptos is probably some of the most big brain tech you have ever seen.
It leverages a high-performance Byzantine fault-tolerant, quorum-based dPoS consensus called AptosBFT, that is powered by validator set which processes transactions & synchronizes state.
TLDR: fast af š
7/ Transaction communication & consensus phases are separate, with verifiers only needing to reach consensus on tx metadata, resulting in blocks containing only tx metadata instead of actual tx data.
TLDR: less data in blocks
8/ This also means nodes proposing blocks only need to sort/pack a few batches of metadata along with Proof of Availability to produce a block.
TLDR: Drastically reduces the total # of messages that go through the system, enabling high tx throughput, fast finality & low latency.
9/ It is especially noteworthy that @Aptos achieves a very fast finality, with TTF of <1 second this is an especially important metric, as outlined in the thread by @MessariCrypto linked below.
x.com/MessariCrypto/status/1631678346722529282
10/ Pretty wild, no?
Well, it is necessary to power @Aptos' parallel execution, which overcomes the core EVM limitation that is sequential execution.
It simplifies the connection of operations & dependencies of txs to execute unrelated txs simultaneously, enhancing throughput.
11/ @Aptos achieves this through 3 primary concepts:
ā¦ Simultaneous execution of txs in different threads that do not overlap in data/accounts
ā¦ Processing txs in parallel, then handling conflicts in settlement order
ā¦ Reordering txs across blocks to optimize concurrency
12/ These methods are enabled by Block-STM, a parallel execution engine for smart contracts.
Don't worry, we don't go into the weeds here.
But: BlockSTM enforces consistent outcomes with a preset order, leveraging it to dynamically detect dependencies & avoid conflicts.
13/ @Aptos is not only about speed though.
@Aptos also offers a range of interesting security features that are very unique.
This includes flexible key management and hybrid custody models, transaction pre-execution or custom transaction constraints.
14/ Key rotation for example is an essential security practice that prevents long-range attacks on accounts, making the chain safer.
Decoupling accounts from keys enables @Aptos to seamlessly add new digital signature algorithms to support various public & private key types.
15/ This and the hybrid custody model in @Aptos, which allows advanced recovery solutions & account management features is akin to account abstraction on Ethereum (see thread below).
It bridges the gap between Web2 and Web3 UX.
x.com/zerokn0wledge_/status/1642889752839077888
16/ Additionally, transaction pre-execution enables users to evaluate a transaction's outcome before signing, mitigating security risks such as phishing attacks.
A key security feature anon (you might know it from @Rabby_io if you're an EVM user).
17/ @Aptos also supports light clients and authenticated storage.
This enables a safer and more trustworthy user experience by allowing users to verify data entirely trustlessly.
18/ But enough on the (absolutely disruptive) tech.
Let's explore the ecosystem and look at some data from @TheBlock__, @artemis__xyz & @DefiLlama! š ā¤µļø
19/ The market is waking up and the increasing product-market fit of @Aptos is evidenced in the steadily growing transaction count on the network.
source: @TheBlock__
20/ The same holds true for the number of active addresses, which has seen continuous growth over the past year.
source: @TheBlock__
21/ Interestingly, the average transaction fee on @Aptos has continued to fall over the same period of time.
source: @TheBlock__
22/ Let's turn to the ecosystem.
Looking at the TVL numbers, the ecosystem leading dApps are:
ā¦ @AriesMarkets (Lending)
ā¦ @ThalaLabs (DEX, Liquid Staking, Lending)
ā¦ @AmnisFinance (Liquid Staking)
source: @DefiLlama
23/ After a retrace with the recent market cooldown, the overall TVL chart looks primed for another wave of growth.
Recently, lending protocols like @AriesMarkets or @EchelonMarket have been catalysts in terms of TVL, alongside liquid staking protocols.
source: @artemis__xyz
24/ The DEX volume across platforms like @ThalaLabs' ThalaSwap, @CellanaFinance or @PontemNetwork's LiquidSwap is already spiking.
source: @artemis__xyz
25/ Compared to many other emerging ecosystems (e.g. the Move-based competitor Sui), @Aptos also has strong dev stats.
More than 2x the repos, weekly devs & commits hint at a clear winner in terms of developer adoption.
source: @artemis__xyz
26/ With upcoming ecosystem incentive programs and a potential airdrop season on the @Aptos app layer, I think the ecosystem is primed to be a centre stage of this bull run.
The Move ecosystem is growing quickly, and @Aptos will lead this emerging narrative.
DYOR anon.
That's a wrap! I hope you've found this thread helpful! š«”
Make sure to follow me @zerokn0wledge_ to stay ahead of the curve on @Aptos and its ecosystem!
Like/Repost of the below post is also highly appreciated! šš
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