EOS RAM Evolution: Unlocking New Capabilities
The EOS blockchain has introduced significant updates to its RAM system, enhancing flexibility, efficiency, and overall utility. These changes, recently implemented through the upgrade to system contract v3.3.0 unlock new dimensions for both developers and users by facilitating innovative applications, more dynamic resource management, and fostering a more sustainable and scalable ecosystem.
For those interested in the EOS ecosystem, this update provides an opportune moment to explore its refined capabilities. Engage with the updated RAM system on EOS and discover the benefits firsthand. EOS is entering a new phase of evolution, making it an opportune time to get involved.
Introducing Transferable RAM
A groundbreaking feature, Transferable RAM, now allows users to transfer RAM between accounts without incurring any fees. This innovation addresses the need for more fluid RAM management, enabling users to efficiently allocate and reallocate their resources according to their needs. Key highlights include:
- Zero fees for transfers, making it cost-effective for users.
- The ability to transfer only uncommitted RAM.
- Utilization of require_recipient to notify both sender and receiver.
- A memo field limited to 256 bytes, facilitating clear communication between parties.
RAM Utilities: Buy, Sell, Transfer, or Burn RAM
The RAM Utilities App offers essential functions for EOS RAM management, including buying RAM for any account, selling RAM to reclaim EOS, transferring RAM to other accounts, and burning RAM to remove it from circulation. Access these features with simplicity through the app.
RAM Logging and Notifications
The new RAM Logging & Notifications feature integrates inline actions for confirming bytes sent or received in RAM transactions, ensuring that payers and receivers have a precise understanding of the transaction specifics. This addition enables smart contracts to utilize these notifications to determine the exact amount in bytes of RAM purchased, instead of just the EOS amount spent. This functionality allows for the development of more sophisticated contract interactions based on actual RAM usage metrics.
The Option to Burn RAM
Users now have the capability to burn RAM from their accounts, a feature that sends the burned RAM to the eosio.null account. Importantly, this action does not affect the RAM Bancor market or the overall RAM supply, maintaining market stability while offering users more control over their RAM holdings.
Secure RAM Purchases with Buy RAM for Self
The buyramself action not only enhances security measures for RAM purchases but also significantly benefits the user initiating the purchase. It safeguards against potential misallocations, thereby bolstering trust in the system’s integrity. Most importantly, this action can be safely whitelisted, allowing web applications to purchase RAM for the account as needed without becoming a potential attack vector.
Improved Integration with Action Return Values
Aiming for greater clarity, new actions now provide exact amounts of RAM affected by transactions. This level of detail supports a transparent and trustworthy environment for all EOS users, ensuring that participants have all necessary information for informed decision-making.
Technical Enhancements and Preconditions
The EOS team has meticulously outlined the preconditions and technical details of these new actions, ensuring a seamless integration into the existing ecosystem. These include:
- Specific preconditions for RAM Transfer and Burn, such as sufficient ram_bytes and account requirements.
- Detailed API changes and action return structures, providing developers with the necessary tools to incorporate these features into their applications.
Use Cases and Implications
These enhancements open up numerous possibilities for EOS users and developers:
- EOS Account Creation: The process is now more streamlined, with ramtransfer enabling efficient account setup.
- RAM Token Wrapper Development: These changes facilitate the development of RAM token wrappers, improving the DeFi ecosystem’s composability and efficiency.
With these features now live, the EOS community is poised to experience enhanced RAM management capabilities, fostering a more efficient, flexible, and user-friendly environment. As EOS continues to evolve, these updates represent a significant step forward in the blockchain’s journey towards optimizing resource management and utility.
Discover the EOS RAM Price Calculator!
EOS sets RAM prices through a system that adapts based on RAM availability, powered by the Bancor Automated Market Maker (AMM). This unique mechanism ensures that RAM prices adjust in real-time as the amount of EOS committed to RAM changes. At its core, the Bancor AMM uses a mathematical formula to maintain a balance between the supply of available RAM and the EOS invested in it, influencing prices based on this relationship.
The EOS RAM Price Calculator simplifies the exploration of these market dynamics by allowing you to easily visualize how the RAM market would adjust prices based on supply. This reference tool is essential for anyone looking to understand or engage in EOS RAM trading.
The Next Frontier: RAM Tokenization on EOS
Another major initiative on the horizon: RAM tokenization. Designed to introduce a flexible mechanism for managing system RAM through a tokenization process, the eosio.wram contract can provide a seamless wrap and unwrap process at a 1:1 ratio. By integrating the trusted eosio.token contract, this approach not only simplifies the exchange of RAM but also aligns it with the digital asset market.
The core of this transformation lies in the ability to convert RAM into tokens and vice versa, opening up unprecedented opportunities for listing these tokens on centralized exchanges and tracking on platforms like CoinMarketCap. This move promises to enhance liquidity, widen accessibility, and integrate EOS’s resources with the global trading landscape.
RAM tokenization is more than just an upgrade; it’s a gateway to new markets and possibilities, marking an exciting future for the EOS ecosystem. Stay tuned for a world where EOS RAM becomes a part of the broader digital asset conversation.
Other RAM Updates + Milestones
RAM/USD Price Chart Added to eoseyes.com
Thanks to a Pomelo Bounty from Denis Carriere, eoseyes.com has added a USD/EOS/RAM price chart, and additional work is ongoing towards completion of the bounty with the addition of an OCHL (Open Close High Low) candle chart. Solving the challenge of historical data of RAM market activities, which is an issue currently being tracked here, will enable the creation of more full featured RAM charts in the future.
EOS RAM TVL Reaches $20M
According to DefiLlama, the Total Value Locked (TVL) in EOS RAM has surpassed $20 million. When including the unsold RAM on the opposite side of the Bancor Automated Market Maker (AMM) that powers the pool, the actual TVL exceeds $40 million.
Charting the Future of RAM and EOS
Halting RAM inflation on EOS reignited awareness of RAM as the network’s essential resource backbone. The recent system contract v3.3.0 upgrade extends this vital resource further. Join us as we continue exploring and extending EOS RAM’s capabilities.
Discover more below, and join the discussion on Telegram!
Additional Tools & Resources
- EOS System Contracts v3.3.0 Release Notes
- EOS System Contracts
- RAM Price Calculator
- NEW RAM Utilities
EOS Network
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal Web3 user and developer experiences. EOS is the flagship blockchain and financial center of the Antelope framework, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
EOS EVM
The EOS EVM is an emulation of the Ethereum EVM, housed within an EOS smart contract. It offers feature parity to other EVMs in the space but with unmatched speed, performance and compatibility. EOS EVM connects the EOS ecosystem to the Ethereum ecosystem by allowing developers to deploy a wide array of Solidity-based digital assets and innovative dApps on EOS. Developers can use EOS EVM to take advantage of Ethereum’s battle-tested open source code, tooling, libraries and SDKs, while leveraging the superior performance of EOS.
EOS Network Foundation
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
