Will the New vRAM Solution Help Make EOS RAM Issues Cheaper for Developers
Over the years, one major setback blockchain has had to grapple with is how difficult proportional expansion can be. Recently, transactions and general crypto activity has increased a lot in frequency. This has become a problem for users and dApp creators in general because the amount of time it takes to complete a transaction and the charges these transactions cost, have also increased.
Unofficially said to mean Ethereum Operating System, EOS promises the industry with the expandability it so desires. Currently, the Delegated Proof of Stake (dPoS) allows simultaneous network access for multiple users and permits about a thousand different transactions to be processed successfully in one second. It also enables these transactions to be carried out free of charge.
The main problem with this is the uncomfortably expensive cost of the RAM – Random Access Memory – required to run such a large number of transactions in such a short time. EOS plans to expand the number of transactions possible in one second from one thousand to one million. However, for that to be possible, more RAM is needed.
This seems very easily understandable but becomes difficult when the cost of RAM is considered. Reports have it that the creators of PandaFun, an EOS based game, spent about $65,000 to buy enough RAM to run the project.
Presently, 1MB of RAM on the EOS platform costs 55.6 EOS which is about $130.
Possible Solution From LiquidEOS
It’s far from surprising that the price of RAM has largely stifled dApp developers and has also made many very reluctant to get on the EOS bandwagon. So, a majority of block producers decided to unanimously vote to lower the price of RAM for new EOS accounts, bringing it down to 3KiB from 4KiB. While this might be a good sign at the moment, there’s no telling when a majority might again vote to raise costs.
However, to help with this, a Research & Development Centre and EOS Block Producer based in Israel, is proposing a different solution. The company – LiquidEOS – is presenting vRAM as their answer to the issue. They not only intend to give RAM at a very reduced cost, but they are also posing it as a solution that is not reliant on a vote or consent from block producers.
This means that at no time can anyone vote to raise or drop the price.
vRAM is described by LiquidEOS as a solution that is “decentralized, and aims to store and retrieve data affordably and efficiently.” This will be done by significantly lowering the amount of RAM essential by strictly keeping only important data. When a large amount of RAM is no longer a prerequisite, the cost for developers and producers will reduce thereby almost completely eliminating the financial problems faced by many who seek to embrace EOS.
LiquidEOS has also said that for
“both scalability and decentralization, blockchains must be designed to store the minimum amount of information needed to verify future transaction validity.”
Furthermore From LiquidEOS
Apart from the introduction of Vram, LiquidEOS has created a voting portal which lets users on the EOS platform choose their favorite block producer, on a weekly basis.
The company has also put out a guide on how users can create their own EOS hardware wallet and transact EOS tokens from the platform.