Until a few months back, publishing venture dApps on Ethereum required a lot of systems development, executive buy-in, and a lot of money.
More public blockchains have recently partnered with businesses to address non-functional technical requirements in order to meet basic security and performance standards.
However, because of the very tribal nature of the blockchain development subculture, mainstream businesses are still wary about developing on Ethereum.
If you’re a corporate developer, the following are benefits of building on public Ethereum:
Lower Cost of Ownership
When comparing the operations and maintenance costs associated with running a system on mainnet to the possession and maintenance of the system itself, public Ethereum has a lower overall total cost of ownership.
At first, a consortium may seem to have more control over the private chain and be subjected to less privacy and treasury assessments.
However, the cost of your infrastructure and the time it takes to negotiate consortium network issues tend to outweigh the efficiency and benefits of connecting to mainnet.
Immutability and Longevity
The interplay of hundreds of different nodes maintained by users and miners all over the world secures the Ethereum mainnet.
Few organizations usually control a small number of nodes in privatized chains. Those nodes can be tightly regulated, but only a few must be hacked in order to modify the chain or commit fraud.
Public networks are recommended for enterprise developers for their high resilience of duplicated or copied data and with the aid of a more elaborate network of over 15,000 independent nodes, you’ll recover more swiftly.
It’s relatively easy to find a seed and completely retrieve your recorded transactions if you have more peers.
The more blockchain authenticators there are to check transactions in consensus processes, the more challenging it is to orchestrate a majority decision that could lead to an assault.
Low Barrier Entry on DeFi and Composability
The Ethereum network is at the heart of a thriving ecosystem of third-party apps and technology, such as DeFi and NFTs.
You can connect to DeFi to construct financial solutions that support and combine numerous apps to meet unique consumer demands using a highly interoperable and composable framework.
The Ethereum mainnet allows enterprise developers to obtain access to market liquidity while also allowing users to engage in the trading, exchange, and growth of that liquidity in novel ways.
When we say composable, we’re referring to a lot more than an open banking API. It’s a set of callable and extendable open-source live protocol contracts. Pure forks of open source code have been seen before, such as Uniswap’s sushiswap.
Countless knockoffs of DeFi models like Compound and Aave have flooded the market, and it doesn’t appear to be slowing down anytime soon.
Don’t miss important articles during the week. Subscribe to blockbuild weekly digest for updates.