Hi i am writing a business plan for a platform at present and i am wondering what the cost will be to a business who want to run there app on the cardano blockchain.I want to verify a part of the business process threw blockchain for transparency but can figure out the the cost ?
I do not think the cost could be set yet, smart contracts is most likely what your app will run as on the network and not until the parameters are set on a live network could you truly calculate the exact cost’s.
If you are familiar with other platforms and their cost’s i think you could assume it would be cheaper once Cardano smart contracts are live, but then this could just be wishful thinking on my part as I expect that the PoS network Cardano is built on will be cheaper than the networks most other networks utilize.
Sorry I could not be more help.
What i suggest is you do the calculation based on Etherium platform costs, and from there you could do an estimate on how much Cardano could cost … Anyways Etherium costs should be higher than Cardano´s as far as i understand it
Thanks , in my business i do not want to do ICO as i see no future value in a token, but it is essential to my project that a blockchain verifies part of the process for transparency , for the purpose of my business plan could you give me a rough estimate for cardano in relation to ethereum ? if you know ethereums yearly cost . Ps i will be waiting for cardano as it is my favorite project and have great belief it will be the best allround blockchain/crypto by this time next year
It would be difficult to estimate a cost associated with something of unknown values, within the Ethereum network developing a yearly cost could even be complicated,that network is run by miners that set a transaction price for the information that it processes, everytime the information is processed a new transaction cost is incurred, the Cardano network will operate in a similar manner without miners (which I figure you understand)
You could start to estimate the cost by deciding how many times you think your business would access the network, lets say you were running a smart contract on the ETC platform, then depending on the transaction price on the ETC platform you could then develop the cost’s associated, hypothetically if your transactions were the same cost as ETC.
If the network processes your information 10,000 times at the cost on Avg. $0.0043 on the ETC platform than your cost would be on average $43.00 U.S. for the transaction cost’s.(last 24 hour)
On the Ethereum network the cost would be on Avg. $0.173 per transaction (last 24 hour) and so 10,000 transactions would cost $1730.00 U.S.
you could use the sites I linked to come up with an average cost on those platforms.
I really wish I could say what the cost’s associated with Cardano smart contracts would be but there are too many variables right now. if there is another way to use the network outside of smart contracts I do not understand it, but to be clear: I am not referencing ICO token, I am referring to accessing the network through a smart contract.
Again sorry I could not be of more help.
Thats a great help thanks a million , so i will go with the etc model for now and wait to see how the cardano platform works when up and running
Please note the previous replies have mentioned ETH, not ETC.
so if you have 10000 transactions processed on the ethereum network per year cost is 1730 ?.Correct i just want to have my app/business run a certain part of the process threw a blockchain to verify them so users know they are real and correct .So my developer would build the app on hopefully cardanos platform when the pos ouroboros system is up and running.I just want to be clear on the process for writing the business plan at the moment .I will also be looking to connect with a blockchain developer to build the app if you have any connections my e mail is firstname.lastname@example.org thanks sean
Actually my number had come from just the last 24 hours that I pulled from the website, calculating the future cost of crypto transactions can be very difficult as the price of the coin can fluctuate, miners can change it. etc. personally I think you should look at the average cost of transactions over the last two years on the ETH network to get a good number you can feel better about applying to your business plan, as an example the last 24 hours average transaction cost was higher than the prior 24 hours, @ $0.187 10000 transactions would cost $1870.00 which is a increase of $140.00 from yesterday.