Xangle Recap: Aptos Analyst Day

Table of Contents

Introduction

1. A Monolithic Blockchain Emphasizing Speed and Security.

2. A Technological Milestone for Advancing Scalability

3. Upgradable Programming Language, MOVE

4. Driving Web 3 Adoption through Enhanced Usability

5. Aptos’ Vision for the Future

Closing Thoughts

 

 

 

Introduction

The Xangle Research team joined the “Aptos Analyst Day” on November 14th, hosted by Aptos Labs and Xangle. This event featured insights from Aptos Labs key players, showcasing the company's impressive entrance and sustained growth in the L1 market. Aptos Labs, during the session, focused on three critical areas: 1) scalability, 2) upgradeability, and 3) usability. Moreover, Aptos Labs articulated its commitment to technological features, ecosystem development, and the strategic direction for Web3's widespread adoption. This article delves into Aptos' vision, technical attributes, and highlights key discussions from the session.

 

1. A Monolithic Blockchain Emphasizing Speed and Security

The session kicked off with David Wolinsky, Aptos' development lead, diving into Aptos' technological prowess and visionary approach. Aptos stands as a monolithic Proof-of-Stake (PoS) blockchain, prioritizing both speed and security. To enhance transaction security and speed, Aptos seamlessly incorporates its MOVE programming language. Currently boasting an impressive processing speed of 20,000 transactions per second (TPS), Aptos outpaces even the high-performing Solana (as of November 14th, approximately 4,000 TPS). Leveraging this technological competence, Aptos has facilitated over 300 million transactions since the mainnet launch.

Wolinsky also emphasized user acquisition based on convenience. Aptos Labs strategically focuses on seamlessly attracting Web2 users to Web3 through integrations with major platforms like Facebook, Twitter, and Google. Aptos Labs aims to streamline the creation of Aptos-based wallets and enhance the user experience for dApps by seamlessly integrating off-chain data from Web2.

 

2. A Technological Milestone for Advancing Scalability

Aptos Labs has strategically centered its efforts on realizing mass adoption by prioritizing rapid processing speed and scalability. To achieve this goal, Aptos Labs has outlined a comprehensive roadmap featuring various technological innovations, notably achieving a remarkable 20,000 Transactions Per Second (TPS) milestone with the release of Quorum Store in April. Recognizing the pivotal role of fast processing speed in user acquisition, Aptos' TPS innovation stands out as a key driver in the substantial growth of the ecosystem. Aptos Labs reports an impressive track record since the mainnet launch, accumulating over 300 million transactions. Moreover, the platform has witnessed the creation of 7 million wallet addresses, with over 200 projects successfully integrating into the Aptos network. David Wolinsky consistently emphasizes that the expansion of Aptos' ecosystem is deeply rooted in its groundbreaking TPS innovation.

 

3. Upgradable Programming Language, MOVE

MOVE stands as Aptos Labs' internally integrated and utilized language, focusing on both the security and speed of transactions. It was developed to overcome the limitations of Solidity, the standard programming language in the blockchain industry employed by Meta's (formerly Facebook) blockchain division, Diem.

During this session, Aptos Labs highlighted the inherent upgradability feature in the MOVE language. David Wolinsky emphasized that the upgradeable nature of MOVE stands as a critical element in expanding the future blockchain ecosystem, laying the groundwork for sustained growth at the language level.

The session also emphasized the advantages of Aptos facilitated by MOVE, including:

• MOVE's similarity to the way general developers structure applications based on Web2, simplifying the transition from off-chain to on-chain.
• Improved efficiency in developer costs and accessibility, fostering a seamless development environment.
• Aptos implements advanced encryption API features that enable cryptography, authentication, and knowledge proof, ensuring MOVE's security while enhancing functionality.
• MOVE supports the creation of genuine on-chain applications in ways unattainable with other languages. Additionally, in 2024, on-chain randomness functionality will be integrated, further solidifying Aptos as a more reliable blockchain network.

 

4. Driving Web 3 Adoption through Enhanced Usability

Midway through the session, Aptos Labs highlighted the crucial role of usability, emphasizing the importance of dApps. A seamless user experience establishes a cyclical structure that drives user engagement. Aptos Labs, in response, sets its sights on onboarding diverse dApps, improving UI/UX, and drawing Web2 users into the Web3 ecosystem. Two notable examples of dApps showcased by Aptos are outlined below.

• Graffio: In celebration of the Aptos ONE Mainnet Anniversary, Aptos Labs launched "The Aptos ONE Mainnet Anniversary NFT Collection" via the Graffio app. This collection includes a time-lapse video capturing a collaborative art experience that took place on October 18, 2023, within Graffio—a collaborative social art platform integrated into the Aptos network. The community gathered to contribute to the artwork, leaving a lasting imprint on Aptos' history as an integrated decentralized community. Participants in Graffio were presented with commemorative video NFTs as tokens of appreciation. Throughout this process, Aptos Labs showcased achievements, including 1.8 million page views, 1.2 million drawing transactions, 29,000 Graffio wallet account participations, and a total of 75 million pixels in drawings. Consequently, the Graffio 1st-anniversary event served as a platform to highlight Aptos' community influence, illustrating both network scalability and security.

Source: Aptos

• NBCU: In partnership with NBC Universal, Aptos Labs has developed a blockchain game inspired by the movie 'Renfield' to enhance users' immersive Web3 experiences. Engaging in the game provides users with the chance to amass a digital collection, featuring movie posters and scenes. Rewards are accessible through the Petra custody wallet, which utilizes social login credentials. Aptos Labs elaborated on the outcomes of this initiative, highlighting confirmed achievements such as the network's scalability for game implementation, on-chain reward experiences, and on-chain data processing.

Source: Aptos

5. Aptos’ Vision for the Future

The session provided an insightful glimpse into Aptos Lab's envisioned future. Aptos Labs is on a mission to evolve into a universal blockchain network grounded in safety, scalability, and continuous improvement. Demonstrating a commitment to technological innovation, Aptos outlined its upcoming advancements:

• On-chain Randomness: his technology ensures the generation of verifiable random numbers directly on the blockchain. The implementation of on-chain randomness is intricately tied to the fairness of reward systems. Whether in gaming or other reward frameworks, concerns regarding the impartiality of selection criteria often arise. David Wolinsky emphasized that by the first half of 2024, Aptos will pioneer as the first blockchain to integrate on-chain randomness, introducing a fairness mechanism akin to Web2 development environments.
• BullShark: BullShark stands as a sophisticated consensus algorithm engineered to enhance transaction throughput significantly. Unlike other asynchronous DAG-based protocols, BullShark provides a practical low latency fast-path that exploits synchronous periods and deprecates the need for notoriously complex view-change and view-synchronization mechanisms. Aptos envisions implementing a transaction mechanism marked by simplicity and high efficiency through this innovative technology.
• Data Sharding: Aptos is at the forefront of exploring innovations that transcend individual validator performance. By introducing data sharding as a methodology, Aptos supports internal sharding, achieving horizontal scalability seamlessly without introducing complexity for node operators. This implies that each validator can process transactions across multiple shards in parallel, independently managing and validating the network state in easily manageable chunks.

Closing Thoughts

At the Aptos Analyst Day, active discussions unfolded around Aptos' team strategy for mass adoption, delving into the advantages and vision presented by Aptos. Christie Lee from Aptos Korea BD team underscored 1) scalability, 2) upgradability, and 3) stability as pivotal elements for Aptos to prioritize in its pursuit of mainstream adoption. She also introduced the concept of "Invisible Web3 UX," aiming for a user experience that seamlessly transitions Web2 users into Web3.

Responding to the question of why Aptos Labs is concentrating on the Korean market, Christie Lee outlined three key reasons:

• Acceptance of innovation by Korean conglomerates: Korean conglomerates exhibit a relatively open stance towards innovation, readily embracing new initiatives, which positions them as suitable partners for expanding Web3 business.
• Health and development of the Korean developer ecosystem: The Web3 developer community in Korea is robust, boasting a well-established ecosystem fostered through events such as hackathons and meetups.
• Sensitivity to trends among Korean customers: Korean customers are exceptionally receptive and adaptive towards innovation compared to other countries.

When asked about projects viewed as industry competitors, the emphasis rested on the idea that blockchain projects should move beyond mere competition and instead consolidate their roles in diverse domains to generate synergy. Above all, underscoring the significance of the objective to draw underserved users from Web2 to Web3, the main point highlighted was the exploration of practical use cases of decentralized technology by users, relegating competition to a secondary concern.

Upon reflecting on the one-year milestone since the Aptos mainnet launch, the assessment is that Aptos has effectively constructed its ecosystem, leveraging robust technical capabilities. The Aptos team is recognized for possessing a clear understanding of their strengths and innovative directions. We conclude this report on Aptos Analyst Day with the expectation that Aptos, despite challenging market conditions, will play a pivotal role as a cornerstone in the development of a comprehensive crypto ecosystem.