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?
  • 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 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 at 17:38

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 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. – Mikko Ohtamaa Jul 27 at 16:40

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