Slides presented at the second ONTOCHAIN Summit for Trustworthy Internet by Thanasis Papaioannou, ONTOCHAIN core partner & Principal Investigator at Athens University of Economics and Business
(MSc), Dimitris Koutsoupakis (PhD), Prof. George D. Stamoulis Services, Technologies and Economics (STEcon) Lab Athens University of Economics and Business (AUEB) [email protected] 2nd ONTOCHAIN Summit, June 22, 2023
need/wish to employ dApps Third-party service component: poc4commerce, reputable, knowledgeX, hibi, ontossivault, graphchain, copyrightly dApp developers: software companies or software engineers that develop decentralized applications dApp providers: companies that provide dApps to end-users ONTOCHAIN Foundation (DAO): the core software and blockchain platform Nodes / Blockchain network: Computing Resource Providers Data providers: providers of data needed by dApp providers or data oracles
software platform and the computational resources for dApp developers/ dApp providers to build and deploy their services • One-off, subscription fees and/or transaction fees will be used 2. End-users subscribe/pay per use the dApp providers for dApp transactions • Part of the transaction fee is given to ONTOCHAIN • Part of the transaction fee is given to the different libraries/solution providers that are used by the dApp 3. ONTOCHAIN pays nodes with gas fees and other platform costs • ONTOCHAIN platform can be employed for educational services • ONTOCHAIN has created a vibrant ecosystem of developers for also mediating the creation of proprietary solutions for the private sector Service Brokerage / Tutoring
the future for civil engineering Situational awareness is key Trustworthy identities, data oracles, reputation management, trustworthy data sharing, trustworthy data processing, services exchange, and more come into play This could be a dApp deployed atop ONTOCHAIN It has some app-specific smart contracts deployed on ONTOCHAIN platform These smart contracts or the dApp directly employs also some APIs from 3Ps
per User per dApp (€/month) 40.00 Data Fees (paid by users or by dApps) monthly per transaction 0.50 Incentives (Gas) 2.00 Mean Component Fees per Service Instance (w.r.t. transaction fee) 0.12 Transaction fee (%) 0.35 • The mean service fee per dApp transaction 8 EUR – The average number of monthly transactions per user per dApp is 5, i.e., a monthly fee of 40 EUR for an end-user to use a dApp • The ONTOCHAIN platform is assumed to withhold 35% of the dApp service fees paid by the end-users • We assume that each dApp employs 4 ONTOCHAIN service components on the average • Each of these service components is paid a fraction 12% of the service fee per dApp transaction withheld by the ONTOCHAIN platform • Each dApp provider pays the ONTOCHAIN platform a monthly fee of 100 EUR for hosting the dApp, while a one- off deployment cost of 100 EUR is also considered
Consumption per mining node (500MHs) 1116 SW licensing costs per service component (annual) 0 Hardware expansion rate w.r.t. num of monthly transactions 0.01% Hosting fee per physical OC / SC node 10 dApp hosting fee per month 100 Annual personnel Costs for Software Maintenance, Marketing and Support (per dApp) 12,000 Communication (network) costs per node 480 Computation power per month per node (KWh) 720 Inflation rate (%) 2% Annual Personnel Costs for Software Maintenance, Marketing and Support (per Service Component) 48,000 Communication (network) costs per service component/dApp provider 600 Annual OC personnel Costs for Software Maintenance, Marketing and Support (per dApp) 120 Monthly rent for placing a mining node 150 Monthly maintenance cost per mining node 200 CAPEX Costs Value (EUR) dApp software development 50,000 Hardware cost per (mining) node (500MH/s) 7,500 Hardware cost per full ONTOCHAIN node 3,000 Hardware cost per service component 5,000 Initial number of full ONTOCHAIN nodes 5 EC funding for ONTOCHAIN 6,000,000 dApp deployment cost 100 Service Component Software Development 80,000
coins and airdrops some of them to OC foundation and to 3P dApps employ specific ONTOCHAIN smart contract to generate Access Tokens (special NFT) for their users (these tokens provide service access) Access Tokens expire after some time (e.g., 1 month) Access Tokens can represent monthly subscription fees or other usage pattern Access Tokens are sold by dApp providers (hence represent individual IOU) ONCHs ICOs Periodic (e.g., quarterly) The amount of ONCHs circulated reflects the total market value of ONTOCHAIN services Why? To avoid high volatility in the dApp transaction fees The price of one Access Token can be determined by the dApp, so that the price of one access token (monthly subscription) in ONCH, covers monthly expenses of dApp provider
crypto and FIAT e.g. 30% BTC, 20% RLC, 50% EUR, etc. based on the anticipated need for covering different expenses in their native currency External crypto and currencies are locked in smart contracts associated to Access Tokens and released when Access Tokens are used
is being added to an EIP-2535 Contract User asks for an Access Token from the Dapp provider for a period and pays Dapp provider in any mean(fiat/crypto) Dapp Provider issues an Access Token (Smart Contract) to the user if he/she doesn’t have any Example: Dapp provider wants to load subscriptions by choosing the following plans: The provider pays 250 + fees 10% = 275 native coins Dapp Provider loads subscriptions to the Access Token and pays the sum of the values of the chosen plans + ONTOCHAIN fees in ONCH coins. ThirdPartyA • Type: Allowance • Amount: 200 • Currency: Native • Valid for : 30 days Dapp • Type: Allowance • Amount: 50 • Currency: Native • Valid for : 30 days Right after the values in ONCH or 3P service coins are transferred to the Access Token of the user. In our example 250 coins go to the Access Token and the user is able to spend 200 to the 3P A and 50 to the Dapp
native coin of the chain – we don’t want that! Gas fees are paid per transaction – what is the relation to the Access Token We are using (Ethereum) Gas Station Network (GSN) solution • The user instead of sending transactions directly to the network by paying gas fees, she/he signs an EIP-720 message containing information about the transaction he/she is willing to execute and sends it to an available relay server For this purpose, we adopt the following parts: • Relay Provider: In the frontend the network provider is wrapped by a custom provider (offered as a JS lib by us) which sends all the desired outgoing transactions through the gas station network. • Relay Hub contract connecting clients, Relay Servers and Paymasters without having the need to know/trust each other • Relay Server accepts Relay Requests and broadcasts them as transactions to the blockchain. It controls an account key and pays for transaction gas out-of-pocket. The Relay Hub assures that after the transaction execution they will get refunded by the Paymaster contract • Paymaster. Every transaction comes with a paymaster contract as parameter that maintains a balance to the Relay Hub. Also, they accept or reject transactions, so as to subsidize gas fees for transactions of users that have funds in their Access Tokens • Trusted Forwarder verifies the sender's signature and the nonce of the user in order to prevent fake and double sending transactions
and deployed at an EVM- compliant network with test ONCH coins dApps are planning to experiment with this business model in July e.g., DEFEV ONTOCHAIN Foundation MoU, IPR management and founding act are being drafted Founding the ONTOCHAIN Foundation and issuing ONCH is planned for Autumn 2023
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