As a seasoned crypto investor with a deep understanding of the blockchain ecosystem, I’ve witnessed the meteoric rise of EOS RAM over the past few months and it’s left me genuinely impressed. The community-driven decision to halt its inflation has proven to be a game-changer, sending shockwaves through the crypto industry and catapulting RAM into “moon” territory as one of the fastest-growing tokens.
The EOS RAM token has distinguished itself as a top-performing cryptocurrency asset due to the community’s choice to cease the expansion of its supply.
The unexpected elimination of RAM’s inflationary mechanism in mid-February sparked a significant surge in its value, propelling it into the elite group of rapidly expanding crypto tokens. As a result, RAM has soared from 0.00010884 EOS to an impressive 0.00131849 EOS within a short period, representing a staggering growth rate of approximately 111.4%.
As a researcher, I’m excited to report that RAM currently boasts a market capitalization of approximately $317.9 million. With its promising growth trajectory, it seems reasonable to anticipate that this figure may continue to climb.
What is EOS RAM?
In simpler terms, RAM plays a crucial role within the Ethereum Open Source (EOS) platform’s infrastructure, managing how resources are distributed to decentralized applications (dApps). It functions like a tokenized version of Dynamic Random-Access Memory (DRAM), employed for data processing tasks such as storing information and machine instructions. DRAM is a form of temporary storage utilized by computers to execute ongoing tasks – once the computer shuts down, any data stored in DRAM gets deleted.
In the EOS network, developers need to acquire DRAM, which can be obtained by buying RAM tokens, in order to run their dApps on the EOS blockchain. The information stored as RAM on EOS includes wallet account balances and smart contract data, making it a vital resource. Due to its limited supply with no new inflation, DRAM has become more valuable as its scarcity increases.
As a crypto investor in EOS, I’ve witnessed an impressive surge in the value of RAM tokens. This growth can be attributed to a significant event that took place in late December 2023 – the EOS community voted in favor of the MSIG proposal to halt the inflation of RAM. The implementation of this decision came in February and since then, various positive developments within the EOS ecosystem have contributed to the boost in the token’s value.
The EOS RAM system underwent notable enhancements with the release of system contract v3.3.0 in March. This update brought forth innovations like “Transferable RAM,” allowing network users to exchange RAM without incurring any charges. Additionally, a new “RAM Logging & Notifications” feature was introduced, empowering users to ascertain the precise number of bytes an individual RAM token offers upon purchase instead of solely focusing on its EOS cost. Furthermore, system contract v3.3.0 implemented a burn mechanism for RAM, contributing to its price escalation and facilitating more secure transactions via “Buy RAM for Self.”
EOS Community Drives Demand
Towards the close of May, EOS disclosed its plan to set aside approximately 350 million EOS for “market improvement.” A significant portion of this sum is intended for purchasing RAM on the open market to maintain a plentiful inventory and facilitate sales to developers.
The desire for more RAM is growing, with both dApp creators and the EOS Network itself requesting larger quantities. A blog post published in January highlighted the significant RAM usage of the EOS EVM, explaining how it acquired approximately 1.8GB of EOS RAM during a recent block to enhance its memory capabilities, enabling expansion within the ecosystem.
Developers have an equal craving for resources. The widely acclaimed Upland metaverse, a notable application on the EOS platform, requires a substantial 6.7GB of RAM per block to accommodate its massive user base of over 2.5 million players. Another trending development is the emergence of “Inscriptions” on EOS, such as the RAMS project which aims to enhance compatibility between EOS and Bitcoin networks through a BTC Layer-2 solution. Additionally, NFTs built on the EOS EVM, adhering to ERC-721 and ERC-1155 standards, are voraciously consuming vast amounts of RAM due to the thriving success of projects like EZSwap.
In the ever-growing and developing EOS Network ecosystem, the limited supply of RAM has significantly increased its value. Being a crucial component for data storage and transaction execution in dApps on the blockchain, RAM’s scarcity makes it an indispensable asset.
As long as EOS continues to expand, the need for RAM on the EOS platform is expected to rise substantially. The value of EOS RAM has seen significant growth so far this year, suggesting that further increases could be in store.
Read More
Sorry. No data so far.
2024-07-15 15:36