I have spent a lot of time recently working on EOS smart contracts and before that spent time working on dapps for other chains. This is actually going to be the first post in a series primarily aimed at developers but there are some insights that I think are very important to users of and investors in EOS projects.
With the introduction of the dApp people clamor for having everything decentralized. While this may be a noble goal it really isn’t practical in many cases. At current prices (and I use the term current loosely because it will change a lot while I am writing this, to say nothing of how much it may change by the time you are reading it) it cost .56 USD to get 1 millisecond of cpu time. When I started the article about ten minutes before writing this sentence it was .98 USD per ms. If you are not a developer you probably aren’t used to tracking anything by the millisecond so let me give you an example of a dapp and how much cpu they have staked and how much of that they use.
One of the dApps I am heavily invested in is betdice. They have very heavy usage and so are a great example of an app that uses a lot of on chain resources. They currently have 6893791 EOS staked for cpu in just one of their contracts. At current EOS price of $3.12 that means that they have about 21 Million USD staked in cpu on that contract. Imagine the kind of hardware one could purchase for 21 Million dollars. On the EOS mainnet that buys them about 3.4 hours of cpu time per day.
If you could move just half of the processing off chain you get to put 10 million dollars back in your pocket.
Now, for a gambling dApp that EOS is a small amount to have to stake when compared with the profits that it produces but imagine if instead of randomized rolls for gambling it was a dapp that was handling the logic for a game of chess. One assumption I will make is that this dapp allows you to play chess against another person with a wager between the two of you. I m...