Blockchain

EOS RAM Prices Skyrocket Amid Network Speculation

During the previous week, the price for RAM on the EOS network rose more than tenfold in a genuine trading whirl. Now, some in the EOS community are apprehensive about the probable negative effects of RAM trading and conjecture on the network.

The RAM is typically used by coders to store the data utilized in the initiation and creation of decentralized applications (dApps) within the EOS network. RAM, in this scenario, refers to universal storage space in the EOS memory database, and can also be utilized to generate new accounts.

The price of RAM totally detonated this past week considering a 1400 percent gain at the time of writing this article. The start of last week, however, was fairly flat. The price of RAM raised around 0.10-0.11 EOS/KB. Yesterday break of day, the price had twofold to 0.20 EOS/KB before blasting off to a present rate of 0.77 EOS/KB.

One EOS account, in particular, made more than half a million US dollars from trade up great amounts of RAM just after the main net launched. Said account has been promoting it off in batches throughout this current spike.

The Fear

Some are disturbed that this huge spike in RAM cost is only from speculation and warn that it could give way as rapidly as it shot off. One Reddit user wrote a post influence that those seeking to buy up large amounts of RAM on conjecture understand that the risks taken are huge.

One of the foremost apprehensions rotates around the total amount of RAM on the EOS network, Coin Telegraph reported. The data displays that there are currently 64 gigabytes overall on the network. In this scenario, many of those who are buying RAM will not be using it for dApp development — its future use. Buying and holding RAM is thus making it more costly for dApp developers to launch their products, consequently deliberating down development of the actual network.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Nagasunder Sharanappa is highly experienced in Content Management and development, Customer Escalation Management ,Payment Operations and Business Process Outsourcing Industry.

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