How Is The Cost To Build An Dapp On Eos Is Determined?

07 Oct

DApps are basically the abundance of decentralized applications which are ready after the blockchain technology is established in the system.

Whereas, EOS is an operating system which is blockchain-based, customized to the development, launch, and deployment of decentralized applications. The EOS operating system in more convenient, simpler and faster than other operating systems and thus is considered to be the most suitable operating system for the development of DApps. DApp on EOS can be easily created with the help of various templates available for ready-to-run applications.

These decentralized applications are created by various blockchain developers, large companies or private developers with the main aim of simplifying, speeding up and reducing the cost of the process of development of applications. DApp on EOS can also be created using outsourcing. Outsourcing can result in getting desired results in lesser time and also reduces the cost to a minimum. Many people are hiring a Mobile Application development company to get the Dapp to be developed.

Key Features Of EOS Blockchain

There are many key features of EOS blockchain and these are also the reasons why DApp is getting great success in the field of development of various applications. It is recommended to outsource it to a Hybrid app development company.

Some of them are as follows :

1) Supports larger user base

A DApp platform must be capable of handling millions of users simultaneously and seamlessly without any kind of performance issues.

2) Free usage

The main aim of the blockchain platform is that it should be free for end-users. Also, it should be able to upgrade the application without any hindrance. Transaction fees often reduce the encouragement and will to use DApp again. A DApp must consider this facility to attract users.

3) Low latency

A DApp must operate with the lowest possible latency. Low latency provides the user with an interactive and favorable experience while using the same.

4) Parallel and sequential performance

A DApp on any blockchain platform should provide the feature of parallel processing for the purpose of distributing the workload at the same time. Also, multiple sequential performances should be allowed by DApp so that errors such that double spends can be avoided.

Few Points To Be Remembered:

Whenever any kind of Hybrid App development project begins, the initial question of cost estimation to develop a Dapp based on EOS rises. There are a few prerequisites that should be known to the developers before the development as well as cost estimation of DApps on EOS. Before optimizing and estimating the costs and investments, there are also a few things that are the pillars upon which the whole cost estimation depends on.

Some of these points are as follows :

1) EOS is different from Ethereum, it is much more complicated than the latter and also some other blockchains. But on the other hand, it is fast, cost-efficient, scalable and supports complex decentralized applications.

2) Another factor is the type of resources that are going to be consumed by accounts. These include mainly three things namely state storage (which involves RAM), bandwidth and log storage(Network) and lastly, computation and computational backlog (involving CPU).

3) Secondly, resource usage is another factor that is of utmost importance. These include the RAM, the network bandwidth as well as the CPU bandwidth.

Read the blog- Importance of Integrating Machine Learning in Mobile App development

4) The RAM includes information like account balances and orders. This information is accessible from application logic and can be fetched easily.

5) Network Bandwidth can be understood as the average consumption in bytes over some days. It is consumed temporarily every time the user sends a command or requests a transaction.

6) CPU Bandwidth can be understood as the average consumption in microseconds over some days. It is consumed just like the network bandwidth.

  • The third factor is resource allocation which includes Network and CPU for staking and RAM for market purchase. These can be explained as :

1) Network, CPU- staking

The Bandwidth and CPU are allocated proportionally to the number of tokens held in a staking contract. When the network is consumed and CPU frees up, then the staked tokens can be again by the user.

2) RAM- market purchase

The user has to purchase RAM at the market price only that follows the Bancor Algorithm so that the development of decentralized applications on EOS. RAM does not get freed up automatically like network and the CPU. The only way to free the RAM is to delete some data from the account state. When the RAM gets freed up, it can be reused as it also can be sold at the market price.

Read the blog- DApps and Distributed Ledger Technology (DLT) based solutions

Estimation of price

First of all, all the price estimation of resources used in the process are evaluated. This includes the RAM price, NET/CPU Price, etc.

  1. To calculate the RAM price, a certain type of algorithm is used which is called “the Bancor Algorithm”. RAM price can be calculated as the connector balance divided by the product of smart token’s outstanding supply and CW.
  2. The next is the NET/CPU price. The price completely depends upon the block producer. Each producer cost different prices. The NET price can be calculated by Net staked divided by total Net available, and the whole result is divided by 3. The CPU Price is calculated in the same way but the division is replaced by the CPU staked and the total CPU available in the system.
  3. The next step is the expenses invested during the development of DApps.

The expenses vary according to the company or the developer building DApps on EOS. Taking the example of a company, the expenses are shared by various partners and so are the profits. Also, on the other hand, individual developers carry their own investments as well as their profit. For the development of this app, you can hire react native developer or can outsource it to a react native app development company.

Conclusion

Observing the benefits of developing DApps on EOS like scalability, permission schema (custom permission systems for various situations which come in business), upgradability, flexibility, low energy consumption, governance, parallel processing, interoperability and various other interesting features along with the support of blockchain, makes this technology a good process to invest upon. There are many technical features of EOS as well such as wallet system, an on-chain identifier with access permissions associated with it.

With so many advantages, it is definitely being one of the most favorable development tools of the software world.

Share this post with your friends!