Thinking about a new Project

Yes, I know, it sounds absurd. If I remember correctly, I just wrote about my “all expenses” Sideproject, but today another idea struck my head.

As I was sitting on the toilet in our office, it somehow came from the back of my mind.

Is there an easy way to store data on some sort of Blockchain? I didn’t really check the internet, but as with my mind quickly started to think around it, it tried to implement a quick Proof of Concept.

So I quickly crafted together a small site. I worked with the Ethereum Blockchain in the past and thought I should give it a try. I have to admit, I only implemented half of the story.

As I know Ethereum Transaction’s aren’t cheap, and more importantly, the more data you want to store, the more ETH the Transaction would cost.

I implemented a simple script that would take some input data (strings to be specific) and convert it to base64, so no special Characters would show up.

The resulting data would be converted to hexadecimal, as ETH only takes hexadecimal values as “data” for transactions. With the resulting data, I used the “estimateGas” function of the Web3Js library to estimate the gas costs of such a transaction.

Taking the simple phrase of “Hallo Welt!” (Hello World, but in German :)), it would take up about 22000 Gas. If you multiply that with a gas cost of 6 gwei, you face a transaction cost of about 0,11€.

If I have confused you with the last paragraph, I’m sorry. I won’t go into more detail about the implementation. I just wanted to let you know about the idea.

Maybe I’m going to implement more than the simple test page I built. I’ll keep you updated.