EOS recently implemented significant RAM system updates through the upgrade of their system contract v3.3.0. This radical upgrade will result in a flexible, efficient, and more useful EOS network that will create an entirely new world for developers and users. This update will facilitate creative applications, and resource management which is more dynamic and enables fostering a thriving ecosystem set to redefine the blockchain landscape.
Key Features of EOS RAM Upgrade
In the upgrade, one of the most amazing features introduced is Transferable RAM where users can transfer their RAM between accounts without any charge. This innovation covers the demand for fluid RAM management which affords users to efficiently allocate and reallocate their resources as per their demands.
The key highlights of Transferable RAM include zero fees for transfers, the ability to transfer only uncommitted RAM, using require_recipient to notify both sender and receiver plus having a memo field limited to 256 bytes for clear communication between parties.
Besides that, The EOS Ecosystem has another important addition known as The RAM Utilities App that provides vital functions regarding EOS RAM management. This means that users can now buy RAM for any account or sell RAM and get back their EOS token by transferring RAM on other accounts.
The new RAM Logging & Notifications feature has been integrated with inline actions to confirm the number of bytes sent or received in RAM transactions. This means that payers and receivers will have accurate knowledge of specific transaction details. Smart contracts can use these notifications thus enabling sophisticated contract interactions using actual RAM usage metrics thereby increasing the EOS network’s functionality.
Burn RAM and buy RAM: giving users power, improving security
Presently, users can burn their accounts’ RAM which is sent to eosio.null. The sale does not affect either the global quantity or the market price of RAM tokens; hence it helps to keep balance on the market while allowing end-users to take charge of their assets.
Moreover, buyramself action enhances security during purchases for more user benefits than ever before. It also acts as a safeguard against misallocation by adding credibility to the system. This action can be safely delegated since it allows web applications to purchase RAM on behalf of an account without potentially becoming an attack vector themselves.
DefiLlama states that the Total Value Locked (TVL) in EOS RAM has now crossed $20 million. In fact, if we include unsold RAM on the other side of the Bancor Automated Market Maker (AMM) powering the pool, TVL is more than $40 million.
RAM Tokenization on EOS
Another major project coming up is RAM tokenization which aims at bringing in some levels of flexibility when it comes to managing system RAM through tokenization. This approach makes not only exchanging RAM simpler but also aligns it more closely to the digital asset market thus providing new vistas for listing such tokens on centralized exchanges
Conclusion
EOS RAM has become an ephemeral backbone underpinning an array of innovative apps that are racing ahead. These updates are a giant leap forward towards optimal resource management and utility within a transforming EOS ecosystem. EOS enthusiast, are on the right track because they are likely to benefit from the various opportunities that EOS presents from this upgrade.
