The Developer Comes First; How FLETA is Different from Major Smart Contract Platforms
Go to the profile of FLETA Blockchain
Several major blockchain platforms such as Ethereum and EOS are vying to become the Google Android and Apple iOS of the blockchain market. They both, however, possess inherent flaws that may hinder and hold them back from doing so.
Bluntly put, these projects make it expensive for developers to create and run their decentralized applications (DApps) on top of their blockchain platforms. FLETA solves to resolve the issues inherent in Etherum’s GAS and expense for using smart contracts whilst also eliminating the need for developers to stake EOS tokens resulting in large upfront costs.
FLETA seeks to provide the ideal blockchain application and smart contract platform solution for anyone who is seeking to create, deploy, and run decentralized applications.
The Value of Smart Contract Platforms
Instead of overburdening users with GAS, and requiring developers to pay high up-front fees with staked tokens, FLETA provides an alternative solution that is reasonable, affordable, and developer friendly.
In FLETA, developers can choose whether or not to utilize FLETA’s technology support services, and if they do choose to use the services, costs are only incurred based on usage.
Flexibility and Choice
FLETA will offer a Technology & Business Support Service to all developers within the FLETA ecosystem to allow them to develop their own DApps and run their operations smoothly.
Further services provided by FLETA for DApp developers are available if they wish to engage in such services. In these cases, reasonable costs are charged that are proportioned to the usage of the service (more details provided below).
The Development and DApp Costs of Ethereum and EOS
As a comparison, we can take a look at roughly how much it costs to create and run decentralized applications on top of Ethereum and EOS.
Ethereum Smart Contract Costs
In Ethereum, users must pay gas fees for the execution of transactions through a smart contract. Executing smart contracts come with a minimum fee of 32000 gas, plus 200 gas per byte of source code, as outlined in Appendix G of Ethereum’s yellow paper.
As has been estimated, The estimated gas costs for the execution of an Ethereum smart contract conducting ~1,000,000 transactions a year roughly equals 90 ETH or ~$10,600 USD (as of writing this article) every year.
Developers are not required to pay these fees directly, instead the costs are passed onto users who are required to pay to interact and use the DApps or smart contracts to send transactions. This ultimately means users bear the burden of the gas costs and fees, and if an application is deemed to be too expensive, users will likely turn to cheaper alternatives. Take note that the total gas expense and cost will increase in proportion to the increase in value of ETH, so if Ethereum increased by a multiple of 5, gas fees would roughly equal $53,000 USD a year.
EOS Development Costs
In contrast to Ethereum, gas prices don’t need to be paid on EOS. Instead, EOS tokens must be staked in order to receive resources such as Bandwidth, CPU, and storage for a developer’s smart contract. Along with this, developers are still required to pay for RAM. Since RAM is a rare resource, it needs to be bought from an internal RAM marketplace on EOS and according to the EOS resource planner, 1 MB RAM will cost 59 EOS or $139 (as of writing this article).
With this information in mind, let’s see how much EOS will need to be staked in order to run an application. Assuming the application has 1000 users (which is a conservative estimate).
Developers will need to :
Pay for each users account, which is 4 KB RAM per user
Pay for their storage
Account for the network bandwidth and CPU bandwidth for running the DApp.
Factoring all of this together, it is estimated that the deployment and running costs for a 1000 user application on EOS will equal roughly 10628 EOS, or $25,500 (at time of writing).
FLETA Development Costs
Let’s now consider how FLETA differentiates itself as a blockchain platform for the development, running, and maintenance of DApps, along with how FLETA’s costs fair in comparison.
- DApps Operate Their Own Independent Chain
Each independent chain in FLETA’s multi-chain structure represents a DApp that has its own native token that provides utility to users and also rewards miners.
Each independent chain that is led by the “DApp manager” can create their own token economies by choosing how the chain is governed in terms of its mining algorithm, transaction fees (they can choose none at all), and block reward model for miners.
Coming back to the notion of flexibility and choice, developers have a great deal of it when they choose to launch their DApps on FLETA’s platform.
- Formulator Generator Service
If developers would rather not purchase expensive hardware to run miners for their chain (or pay large upfront staking fees) they can pay for FLETA’s “Formulator Generator Service” that supplies formulator nodes (miners) for their subchain.
The fee for this service will be set at reasonable market rates and can be paid in ₩, BTC, ETH, or FLETA tokens. (All purchases in FLETA tokens are given a significant discount.)
- Additional Developer Services
Interchain Connection Service: If developers seek to connect their DApp to other DApps on FLETA’s platform, an interchain connection service is available for doing so.
Fees for this service are very reasonable and vary based on the frequency of usage. The fee is a monthly payment and can be paid only using FLETA tokens. If there is no requirement to connect with other sub chains in FLETA’s network, this cost is not passed on.
Development Support and Automation of Operation Service: A nominal fee for technological services paid for in FLETA tokens will also provide developers with on-going support through the creation of an optimal development environment.
To summarize, FLETA provides developers a platform which is more flexible and affordable than Ethereum and EOS. The formulator generator service ensures developers aren’t required to pay astronomical gas or staking fees if they do not wish to. On top of this, developers also have the option to choose whether or not to utilize FLETA’s additional services, and if they do, they are only charged based on usage at reasonable rates. By empowering developers, FLETA provides great incentives for more decentralized applications to be built on top of our platform.
The details about specific fee amounts are being finalized and will be released to the public upon the launching of the mainnet.
If you would like to learn more, you can chat with us through Telegram, visit our website, and read our white paper and tech paper.