Building a portal where customer can rent out asset for the cost of $1-2. Is there any platform with low transaction cost but still make all the entries in the ledger?
Typical Ethereum transactions invoking a low complexity smart contract function call cost a few cent. That is a few percent of your overall asset rental fee of $1-2 if I understand correctly. Depending on the business case and the margins that you are planning to make, it could thus work out to run it on the public Ethereum blockchain. Alternatively maybe you dont need a public chain, you could have a private Ethereum chain and get it basically for free (except for running the network yourself) or alternatively go for another blockchain solution such as eris:db (by Monax) which can run the same Solidity contracts as you would run on the Ethereum chain. Maybe you could for a private setting also consider Hyperledger fabric, they are supposedly reaching a release for production end of this month.