Aptos Public Chain GAS Has Dropped Below 0.00001

What is GAS?

What is GAS? In blockchain, GAS refers to a fee that pays for the resources consumed by a user when making a transaction or executing a smart contract on the network.GAS can be thought of as a unit of measurement of the cost of operating a blockchain, much like fuel is the cost of driving a car a...

In a blockchain network, smart contracts and transactions consume a certain amount of GAS, and these costs cover computer processing power, network bandwidth, and storage space, etc. The price of GAS is usually determined by supply and demand in the market, which sometimes peaks due to network congestion, etc.

As an example, when a user sends a smart contract or transaction on the Ethernet network, they need to specify a GAS limit and a GAS price.The GAS limit is a maximum value that specifies the maximum amount of resources that the user is willing to consume.The GAS price, on the other hand, is used to specify a fee per GAS unit, which is used by the EtherNetwork to calculate the final cost of the transaction or smart contract.However, both on the EVM or the Ethernet L2 network, the GAS fee has become less affordable, in short, GAS is a very important concept in the blockchain that represents the cost of performing operations on the network.

How can Aptos' GAS fees be so low?

This is due to the fact that Aptos employs a parallel execution engine (Block-STM), a consensus mechanism based on the Byzantine Fault Tolerant Algorithm (BFT) PoS. Unlike the vast majority of blockchains that execute transactions sequentially, Aptos can process and validate all transactions simultaneously. If a single transaction fails or the network is overloaded, Aptos automatically detects and re-executes or aborts because the blockchain's software transaction memory program automatically identifies and handles conflicts.

Meanwhile Aptos is written in a new smart contract programming language called Move, which is said to have advantages over the EVM-based programming language Solidity.

Aptos' almost negligible GAS fees make transaction costs very low, which helps attract more users to the blockchain. In other public chains, high GAS fees are often one of the reasons why many people are reluctant to use public chains, as high transaction fees can be a huge burden on users.

Additionally, Aptos' low GAS fees are helping to drive the development of more decentralized applications. In the past, high transaction fees were one of the reasons why many developers were reluctant to deploy their apps on public chains. But now, low GAS fees can make developers more willing to deploy their apps on Aptos, thus promoting more decentralized apps.

All in all, Aptos is a public chain with great potential and its low GAS fees make it a very cheap and easy to use blockchain network. We look forward to seeing the Aptos public chain make more and more contributions to the development of digital currencies and decentralized applications in the future.