Delay in deployment: Why is $525 (or more) per token deployment not a realistic price and what can be done next?
For many startup companies, depending on a geographical location, $525 is not a bad price to pay for something that is the core component of a functioning business. However, if the business relies on something that will be updated frequently, the money that needs to be injected becomes a much higher number with Ethereum. In my opinion $500 or more is too much and should be avoided.
The reason why I believe it is too much is because it is 10x more expensive than registering a sole proprietorship business in Canada. Executing the token deployment is in a way like registering a business. In my opinion, the realistic price for a single contract deployment should not reach beyond $30 per contract. Today’s prices on Ethereum are just the plain absurd.
I have also tried lowering the gas, since I did not mind waiting, however, $16 got simply lost as it was out of gas.
This reminds me of the coin-operated machines where your coin gets swallowed and the only thing you can do is smack it as hard as you can, in hope to recover the loss. Unfortunately, we can’t do it with Ethereum, although it looks like it needs to get its stuff together, or some good smacking.
There are several alternatives that can be done in the meantime. The first one, although not as fun as deploying a token and having something to work with, is to establish the ground-base for the business. This means developing the product on the test-net and doing as much as can be done before the token deployment. In the meantime, the Solidity code will not go to waste (other platforms such as Tron can process it).
Second alternative is to investigate the block-chains where the token can be deployed for a much cheaper price. The cons to this approach is that there aren’t as many exchanges and relays as there are for the Ethereum. Furthermore, the community is not as strong and liquidity may suffer for that reason. On the other hand, the pros are that Krakin’t may gain a more focused attention and stand-out more, thus attracting the right kinds of individuals.
Right now, I will work on a product rather than a token. The miners (solo and group mining) will be done, while the patenting office may take a while to process it. I hope that Ethereum will solve this issue they have with the gas prices and that issuing a contract will not go beyond $30-$50 per contract. It is not a matter of money, but simple principles. Following the principles is always a good strategy, although it involves taking less risk, and sometimes it means having a patience. I will also investigate what kinds of options I have using other coins that support Solidity (Ethereum classic, Tron, etc).
