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EOS - RAM Price

3 comments

matthewwarn
68
12 days agoSteemit3 min read

There are 3 Staking/Resource elements to an EOS Wallet. The example below is a screensnapshot of a Greymass EOS wallet.

Screen Shot 2018-11-03 at 9.49.14 PM.png

The EOS blockchain and subsequent wallets need resources (Staked Tokens a 1 one time upfront cost versus ongoing variable "fees" or "Gas" in the case of BTC and ETH) to interact with the network. CPU Resources, Network Resources and RAM resources are all required. CPU Resources and NETWORK Resources simply require you to "Stake" a small portion of your EOS in your wallet (There is a 3-day cool down period for withdrawals, similar but much shorter than powering down SteemPower). RAM is a different story. When you create a new account, you pay a small upfront fee (or transfer EOS if you already have an account) and the system gives you a small amount of RAM (in exchange for EOS which is not staked back to you) and a fraction of staked EOS in CPU and Network Resources to perform basic transactions.

RAM is the resource that one uses to store data on the EOS blockchain. Just like the EOS token its price can fluctuate based on supply & demand and there have been some dramatic swings since the launch 6 months ago. If the demand is high, RAM prices will increase and if the demand is low, prices for RAM would lower to some degree this is governed by the algorithm known as the Bancor Relay. The price range for RAM has been between ~0.1 and 1 EOS Token /kB of RAM.

Block Producers manage the available RAM and increase RAM when required. Most recently Block Producers have voted and passed a resolution to increase the RAM from 64BG to 128GB, an Increase of 1KB per block. This has helped to dramatically lower the RAM Costs and the price of RAM has plummeted since shortly after the initial surge after the launch.

Screen Shot 2018-11-03 at 9.37.38 PM.png

However, if the EOS network really takes off, I expect this price to rise from the current lows. The price of EOS Ram could easily exceed the increase in the price of the EOS token. There is just not enough to go around if there is a dramatic increase in the DAPPs using the network in a short period of time. I have recently purchased additional RAM as a speculation with the proceeds of some of my recent AirDrop tokens that I have sold off.

Buy low, sell high.

@matthewwarn

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