LiquidEOS Brings New vRAM Solution For EOS Data Storage To Lower Costs
EOS Brings vRAM Solution For Data Storage For Platform
One of the biggest issues for blockchain technology has been scalability. Though there is been plenty of work on user activities and the development of decentralized applications, transaction times are taking longer, which is due to the lack of scalability to handle it.
Presently, EOS believes that they have solutions that other blockchain platforms simply have not implemented, pointing fingers at Ethereum specifically. The scalability is enhanced with the use of Delegated Proof of Stake (dPoS), which makes it possible for 21 block producers to handle up to 1,000 transactions per second (tps), ultimately resulting in feeless transactions. The producers do not get funds from the wallets of participants, but instead, receive EOS tokens for their work.
While the solution is definitely helpful, the downside is that RAM is expensive, and the network needs a lot of it to store information, both on user accounts and active network decentralized applications (dApps). Essentially, this means that the growth of EOS will result in the need for more RAM, which can be purchased for EOS tokens from the network itself for a high cost.
To develop a dApp, the RAM required is substantial, and prices tend to fluctuate, which makes the overall cost rather difficult to predict. For example, PandaFun, an EOS game, cost developers $65,000 in EOS when it was developed last year. Due to these expenses, a market-based approach was introduced to allow RAM hoarders to profit, though speculators purchased most of the RAM. Presently, just one 1MB of EOS RAM involves a payment of 55.6 EOS (approximately $130).
Until September last year, dApps had to pay exorbitant costs to create apps, which was slowing down the overall progress and adoption of EOS. The majority of block producers chose, at the time, to lower the cost to 3 kibibytes. However, that has proven to not be enough and has only shown how centralized EOS is. While lowering costs helped the developers, it will not prevent block producers from raising costs against.
LiquidEOS and EOS Block Producer have come up with an alternative option. With the use of a new option called vRAM, RAM would be more affordable without any vote from block producers. The new data storage option is “RAM-compatible, decentralized, and aims to store and retrieve data affordably and efficiently. LiquidEOS gives a greater quantity of RAM at once, instead of having to return to purchase it as-needed. However, only essential data will be stored on the blockchain now.
Since less RAM is required to run these decentralized apps, developers will need to pay less to make them, which puts less of a barrier on the ecosystem. LiquidEOS says,
“To optimize for both scalability and decentralization, blockchains much be designed to store the minimum amount of information needed to verify future transaction validity.” With off-chain storage and more sparing use of RAM resources, vRAM may become the go-to affordable solution.”
Along with introducing vRAM, LiquidEOS also brings an EOS voting portal to the table, encouraging users to vote for their favorite block producer. They have also published a guide on creating an EOS hardware wallet. However, vRAM’s launch this month could spur more activity on the EOS ecosystem, which the platform the true winner here.