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How to Save Money on Blockchain RPC Provider Costs (My Sincere Apologies to RPC Provider Companies!)
- A Blockchain RPC Provider enables users to interact with a blockchain node without running one themselves, like Infura.
- Blockchain RPC Provider costs include gas fees paid to the network and RPC costs to the provider.
- Querying blockchain data each time from the network can be slow and expensive, so a caching layer is needed.
- Instead of querying data for NFT transactions every time, a caching solution was implemented to improve speed and reduce costs.
- Various NFT transactions like minting, transferring, and burning were tracked with ownership changes.
- To save costs, a time-based rotation strategy between four free-tier RPC providers was employed.
- Infura Pro costs $225/month, Alchemy Growth costs $49/month plus additional fees, and running a personal node costs 2-3 million KRW/month.
- Relying on free tiers, limitations, and response formats of RPC providers varied, requiring rotation for continuous data collection.
- A balance was sought between real-time blockchain updates and cost efficiency by collecting changes periodically and storing them for quick responses.
- Third-party blockchain indexing services like The Graph and Moralis could also be utilized for data aggregation.
- Querying blockchain data in real-time for a project led to delays and high costs, prompting the need for a caching mechanism.
- Implementing a backend API and caching layer improved response times and reduced the number of RPC calls for NFT-related actions like transfers and burns.
- Multiple types of NFTs were managed, including puzzle pieces, blueprint items, and material items, each with different transaction events.
- A time-based approach with rotating between multiple free-tier RPC providers was a cost-effective solution for continuous data collection.
- The implementation allowed for collecting blockchain data without incurring additional costs, addressing budget constraints for a student project.
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