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I want to generate large number of transaction probably in thousands per day to store document hashes of certificates from Universities so that I can verify the integrity of documents through time stamp and hash. The problem is the Ethereum transaction fees has jumped quite high.

  • Will Ethereum 2.0 decrease transaction cost significantly with implementation of Sharding and ZkSnarks?
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  • Do you really need a exact timestamp, or would it be enough to have the day? What is your exact use case? Do you want to make sure, that someone can proof, he was first?
    – jjj
    Jul 31 '20 at 12:56
  • I would need exact timestamp and a permanent record on a blockchain. There must be proof that a document hash has been stored in blockchain so that one can verify that the document is indeed not tampered with
    – Subik
    Jul 31 '20 at 17:38
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As it sounds you do not need to interact with hashes from smart contracts, you could do something simpler. Ethereum blockchain that is designed for transfer-of-value is not good for store-of-hashes use case.

  • Collect hashes to a single file

  • Publish this file in a decentralised storage network like Storj, Sia or FileCoin

Storj Tartigrade cost is $0.0045 per gigabyte.

Regardless of this, it is too early to speculate on Ethereum 2.0 fees with sharding, as the sharding model itself is not finished. However the cost is likely to be lower than what we have now.

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    Hey But I need the store of hash to be immutable and have a timestamp.So that the customer can verify the documents legality. But Tartigrade is not immutable. Is EOS a good option as it is immutable and have low transaction fees?
    – Subik
    Jul 27 '20 at 7:41
  • You are indeed correct, I was not aware of this. The underlying Storj promise was for immutable files, but looks like the protocol has changed quite a bit in their v3.0. Jul 27 '20 at 16:40
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Will Ethereum 2.0 decrease transaction cost significantly with implementation of Sharding and ZkSnarks?

The implementation of sharding and rollups (including those that use zk-snarks) is likely to decrease transaction cost significantly. This is because transaction fees are based on supply and demand of the "space" for transactions.

Currently, Ethereum only has "space" for around 15 transactions per second (TPS).

How many transactions (TPS) can Ethereum 2.0 process? With rollups and sharding, a theoretical maximum is 100,000 TPS. Even without reaching a theoretical maximum, you can see that there will be magnitudes more "space" for transactions with shards and rollups, and this supply should decrease the cost of making transactions significantly.

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