The Path to 10x Lower Gas Fees on Aptos
The Aptos team has responded to community feedback about the high fees on Aptos with a three-stage plan to deliver 10x lower gas fees, improving the accessibility and affordability of the chain for users and developers alike.
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One of the top requests from the community is to lower gas fees, which aligns with Aptos' principle of having the network's demand dictate its costs. In response, the Aptos team conducted extensive on-chain data analysis and internal discussions to come up with a three-stage plan to deliver demand-driven gas costs on the chain:
- Reduce prices by 10x for dynamic NFTs in early January 2023 through improved NFT data operations
- Build gas-efficient data structures in Q1 2023
- Develop an advanced gas model in late Q1 or early Q2 2023 that separates storage and execution costs
Lowering gas fees will have a transformative effect on the ecosystem. Transactions such as NFT movements and modifications, oracle updates, and DeFi operations will all benefit from reduced gas prices, making the chain more accessible and affordable for users and developers. This will drive growth and innovation in the Web 3.0 technology space.
The Aptos team's dedication to reducing gas fees and improving the ecosystem is a positive sign for the future of the chain. The three-stage plan to deliver demand-driven gas costs will make the chain more user-friendly and accessible, leading to increased adoption and growth in the Web 3.0 technology space.
The involvement of the community, the response of community builders in the development process, and the onboarding of experts in the field as advisors, are also strong indicators of the chain's commitment to driving innovation and growth.