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(0) This thread is an attempt to estimate that, with REX as a system contract, how much does 1 transaction cost on EOS monthly REX vs. ETH. Conclusion first – ETH is ~150,000x more expensive today, or EOS is 99.9995% cheaper, on a per Tx basis. @bytemaster7 @VitalikButerin
(1) The math for ETH is pretty straight-forward – via bitinfocharts, it indicates ETH transaction costs 5-10 cents per Tx. Or 1 USD gets you roughly 17 transactions on the past 2-4 week average. The cost had come down significantly vs. 20 cents+ many months back.
(2) On EOS, 1 USD gets you ~0.21 EOS on today’s price. Based on eosauthority.com/rex/statistics, for every EOS spent on REX leasing, one gets to use 2123 EOS for a month. So 0.21 EOS translates to ~440 EOS delegated to resources.
(3) As it stands, 1 EOS gets you 135,000 microseconds of processing time, with a standard transaction costing 350-1000 microseconds. So let’s say on-average, 1 EOS gets you 200 transactions per day: eoscharge.io
(4) With 440 of borrowed EOS via REX (with 1 USD of borrowing cost), this means a dapp gets ~87k Tx / day, or 2.6 mm Tx for a month. This effectively translates to $0.0000038 / Tx for that month, compared to the 5-10 cents by ETH.
(5) This translates to a 150,000-fold difference in cost. Adding this with the dapp contracts being able to spend resources on the users behalf (upon the next iteration), dapps now have a very valid cost structure to test out their business models.
(6) these figures are largely averages and estimates and can vary greatly. Ram and NET staking are ignored in the calculation, CPU billing is producer subjective, ETH may scale further. Feedback are welcome.
(7) This makes EOS mainnet as it stands an excellent testing ground for new business ideas exploring the "powered by blockchain" concept. Looking forward to what may emerge over the next 12 months.
