The EOS blockchain has received a major update to its RAM system, enhancing flexibility, efficiency, and overall usefulness. These changes, recently implemented through an upgrade to System Contracts v3.3.0, unlock new dimensions for developers and users by promoting innovative applications, more dynamic resource management, and fostering a more sustainable and scalable ecosystem.
For those interested in the EOS ecosystem, this update provides a great time to explore its finer features. Get involved with the updated RAM system on EOS and discover its benefits firsthand. EOS is entering a new phase of development and now is a great time to get involved.
Introduction to Transferable RAM
Transferable RAM is a groundbreaking feature that now allows users to transfer RAM between accounts without paying any fees. This innovation addresses the need for smoother RAM management, allowing users to efficiently allocate and reallocate resources according to their needs. Key highlights include:
There are zero fees for transfers, making it a great deal for users.
The ability to transfer only uncommitted RAM.
Use require_recipient to notify senders and receivers.
Meme fields are limited to 256 bytes, promoting clear communication between parties.
RAM Utility: Buy, Sell, Transfer or Burn RAM
The RAM Utilities app provides basic functionality for EOS RAM management, including buying RAM for any account, selling RAM to recycle EOS, transferring RAM to other accounts, and burning RAM to remove it from circulation. Easily access these features through the app.
Explore RAM Utilities
RAM logging and notifications
New RAM logging and notification features integrate inline operations to confirm bytes sent or received in a RAM transaction, ensuring payers and recipients understand accurate transaction details. This new addition enables smart contracts to utilize these notifications to determine the exact number of bytes of RAM purchased, not just the amount of EOS spent. This feature allows the development of more complex contract interactions based on actual RAM usage metrics.
Option to destroy RAM
Users can now burn RAM from their accounts, which will send the burned RAM to the eosio.null account. Importantly, this action will not impact the RAM Bancor market or overall RAM supply, keeping the market stable while providing users with more control over their RAM holdings.
Buy RAM securely with Buy RAM for Self
The buyramself operation not only enhances security measures for RAM purchases, but also provides significant benefits to the user initiating the purchase. It prevents potential misallocations, thereby increasing trust in the integrity of the system. Best of all, this action can be securely whitelisted, allowing web applications to purchase RAM for the account as needed without becoming a potential attack vector.
Improved integration of operation return values
For greater clarity, the new operation now provides the exact amount of RAM affected by the transaction. This level of detail provides a transparent and trustworthy environment for all EOS users, ensuring participants have all the necessary information to make informed decisions.
Technical improvements and prerequisites
The EOS team has carefully outlined the prerequisites and technical details of these new actions to ensure seamless integration into the existing ecosystem. These include:
Specific prerequisites for RAM transfer and burning, such as sufficient ram_bytes and account requirements.
Detailed API changes and operation return structures provide developers with the tools they need to incorporate these features into their applications.
Use cases and impact
These enhancements open up a variety of possibilities for EOS users and developers:
EOS account creation: The process is now more streamlined, and ramtransfer enables efficient account setup.
RAM Token Wrapper Development: These changes facilitate the development of RAM token wrappers, improving the composability and efficiency of the DeFi ecosystem.
As these features come online, the EOS community will experience enhanced RAM management capabilities, creating a more efficient, flexible, and user-friendly environment. As EOS continues to evolve, these updates represent an important step forward in optimizing resource management and utility for the blockchain.
Explore the EOS RAM Price Calculator!
EOS sets RAM prices through a system that adjusts 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 in RAM changes. At its core, Bancor AMM uses mathematical formulas to maintain a balance between the available supply of RAM and the EOS invested in it, and influence the price based on this relationship.
The EOS RAM Price Calculator simplifies the exploration of these market dynamics. By adjusting the EOS allocation of RAM, you can immediately see the impact on RAM prices. This tool is a must-have for anyone who wants to learn about or participate in EOS RAM trading.
The next frontier: RAM tokenization on EOS
Another big initiative on the horizon: RAM tokenization. The eosio.wram contract aims to introduce a flexible mechanism for managing system RAM through a tokenization process that can provide a seamless wrapping and unwrapping 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.
Central to this shift is the ability to convert RAM into tokens and vice versa, opening up unprecedented opportunities to list these tokens on centralized exchanges and track them on platforms like CoinMarketCap. This move is expected to enhance liquidity, expand accessibility, and integrate EOS’ resources with the global trading landscape.
RAM tokenization is more than just an upgrade; it’s a gateway to new markets and possibilities, signaling an exciting future for the EOS ecosystem. Stay tuned for a world where EOS RAM becomes part of the broader digital asset conversation.
Other RAM Updates + Milestones
RAM/USD price chart has been added to eoseyes.com
Thanks to Denis Carriere’s Pomelo bounty, eoseyes.com has added USD/EOS/RAM price charts, and additional work is ongoing, such as adding OCHL (Opening High Low) candlesticks. Solving the challenge of RAM market activity history data (which is an issue currently being tracked) will enable the creation of more fully featured RAM charts in the future.
EOS RAM TVL reaches $20 million
According to DefiLlama, the total value locked (TVL) of EOS RAM has exceeded $20 million. When including unsold RAM on the other side of the Bancor automated market maker (AMM) that powers the pool, the actual TVL is over $40 million.
Charting the future of RAM and EOS
Stopping RAM bloat on EOS has reignited awareness of RAM as the critical resource backbone of the network. The recent System Contracts v3.3.0 upgrade further expands this important resource. Join us as we continue to explore and expand the capabilities of EOS RAM.
Learn more below and join the discussion on Telegram!
Other tools and resources
EOS System Contract v3.3.0 Release Notes
EOS System Contract
RAM price calculator
New RAM Utilities
About EOS Network
The EOS network is the epitome of the blockchain 3.0 era, powered by EOS VM. EOS VM is a low-latency, high-performance, and scalable WebAssembly engine that enables nearly seamless deterministic transaction execution. The EOS network is designed specifically for Web3 and is committed to enabling the best Web3 user and developer experience. EOS is the flagship blockchain and financial center of the Antelope protocol, and uses the EOS Network Foundation (ENF) as a tool for multi-chain collaboration and development of public basic products to further improve the infrastructure and drive the rapid development of EOS.
EOS EVM
The EOS EVM is a simulation of the Ethereum EVM and resides within the EOS smart contract. The EOS EVM will provide functionality equivalent to other EVMs in the space, but with unparalleled speed, performance and compatibility advantages. EOS EVM connects the EOS ecosystem with the Ethereum ecosystem, allowing developers to deploy a large number of Solidity-based digital assets and innovative dApps on EOS. Developers can use the EOS EVM to leverage Ethereum’s battle-tested open source code, tools, libraries, and SDK while taking advantage of EOS’ superior performance.
About the EOS Network Foundation
The EOS Network Foundation (ENF) was born to create a prosperous, decentralized and future for the EOS ecosystem. By encouraging the active participation of major stakeholders in the EOS ecosystem, supporting community projects, providing ecosystem funding, and supporting the construction of an open technology ecosystem, ENF is setting off a new round of Web3 changes. As the center of the EOS network and a leading open source platform, ENF was founded in 2021 and has a stable set of frameworks, tools, and blockchain deployment libraries. Together we enable innovation in community building and work to create a stronger future for all.
