The vRAM Solution: Why EOS Will be 2019’s Most Lucrative Investment
EOS is Ethereum’s largest competitor in the decentralized applications field. It charges no fees to send tokens or to call a smart contract. Best of all, the EOS network is highly scalable, making it every developer’s dream for creating and running large-scale applications. It can handle millions of transactions daily – something that Ethereum still struggles with. With all of these features, there are many developers who are looking to deploy their DApps on the EOS network while others are seriously considering making the transition from Ethereum to EOS. The only challenge that stands in their way is the high cost of running an app on the EOS ecosystem. The RAM, CPU, and network bandwidth required to run a DApp on the platform can be substantial.
Background into EOS
The EOS platform utilizes RAM to sign in new EOS accounts, add information to their account, and support DApps deployed on the ecosystem. For instance, when a new user creates a new account on EOS, he/she purchases RAM to store their account details. Currently, 4K of RAM is sufficient for most EOS needs. This RAM is used to store relevant information such as keys, balances, and contract states. EOS users cannot broadcast data or information requests to the entire blockchain because that would take too long and would not be an efficient – or secure – way to do things. Instead, data is replicated in the RAM of every node. While this makes things fast and scalable, the cost of keeping data stored in RAM very high.
LiquidEOS, a block producer located in Israel, is committed to creating a one-time solution to the EOS ecosystem. They intend to increase the platform’s scalability, efficiency, and security. Moreover, they are committed to being honest and transparent actors within the EOS ecosystem. After carefully studying the EOS platform, LiquidEOS discovered that the current EOS RAM costs were high, which corresponds to our analysis above. This can limit the efforts of DApp developers while slowing down EOS’s adoption rate. LiquidEOS plans to offer a solution to the high cost of RAM with the introduction of vRAM.
The vRAM System
Developers currently incur two types of RAM costs. The first cost is the cost of storing DApp smart contracts. The second cost is that of storing and updating the state of the contract. The DApp’s state information, such as each user’s balance, is stored permanently in RAM regardless of whether or not that user is interacting with the DApp. In the proposed vRAM solution, DApp developers will migrate all of the relevant data stored in RAM to IPFS (Inter-Planetary Filing System) files hosted by DApp Service Providers (DSPs). The resulting increase in the amount of available memory will reduce the cost of building a DApp and, hopefully, increase the overall adoption of EOS and its use in building blockchain solutions and systems.
The EOS cryptocurrency token and its network ecosystem already pose a serious threat to Ethereum. With the LiquidEOS team planning to introduce vRAM during February 2019, the chances are that more developers will migrate to the system. Although the vRAM system is still in the test stage, it has already shown a great deal of promise. A potential increase in the use of EOS will eventually drive its price in the market higher. The expected growth of EOS use and adoption during the course of the year bodes well for 2019 as the year of EOS.
This is not investment advice. Every investor should conduct their own financial research and only invest money they are willing – and can afford – to lose.