2

Knowing that:

  1. In a private Ethereum blockchain, I can have no value of ether and basically allocate as much ether as I want.
  2. Storing data on a public blockchain is a costly affair

If I were to conclude from those that since I'm using a private Ethereum blockchain, I can store as much data as I want? What will happen from latency standpoint? If I have 1000 devices sending data per second which I need to store on private blockchain with 3 organizations, how should I go about that?

  • 1
    The cost will be the servers, electricity and bandwidth needed. There are no free lunches. – bordalix Jun 12 '18 at 16:36
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You would be better off having a traditional DB where those 3 organizations will authenticate and send their data, because:

  • at the present moment, the ethereum network doesn't support 1k tx/s (not even close may I say, being close to 15 tx/s)
  • scaling SQL DBs and NoSQL DBs to support 1k tx/s is an already solved issue
  • given that you know and approve these companies's access to your DB, you don't need a trustless environment
  • if you want these companies to audit the data, you can give them full access to a replica of your main DB
  • there's absolutely no benefit you'd get from using a blockchain for 3 companies
  • this solution might actually be safer, because otherwise, each of these companies could buy some mining rigs and perform a 51% attack, while you assume the network is safe.

So, to answer you question: yes, you can have a private ethereum instance, with no gas costs, but it would most probably bring you more headaches than issues solved.

  • The reason why we are adopting Blockchain is for trust, immutability more than anything else. – Chaitanya Bapat Jun 12 '18 at 21:47

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