This week prices for 1 MB of memory (RAM) in the network EOS “took a ride on a roller coaster,” in the afternoon of the third of July reached a peak of 919 EOS, this night fell to 195 EOS, and at the time of publication, according to MarketstackD.io be 339 EOS for RAM.
Recall that the EOS is cryptotoken and infrastructure for decentralized applications (DApps). According to Coinmarketcap, this is the 5th coin by market capitalization, which is around $ 8 billion.
Although now the price has fallen markedly, but this kind of crazy speculation can present a real risk to the intended function of the network as the operating system for decentralized applications (DApps), because developers simply do not have enough money to buy the critical memory resources for their projects.
Why did this problem occur? In may Block.one, a developer EOS has released an update EOSIO architecture for the DApps, dubbed “Dawn 4.0”. It included several improvements, as well as the transition to the new market model of allocation of RAM.
At that time technical Director Dan Larimer (Dan Larimer) published in a Medium post, in which he explained that this was the way of financial incentives for users to distribute their unused RAM, allowing supply and demand to regulate the price.
However, he also recognized the risk that such a system “may lead to the fact that traders will start to buy RAM today, in anticipation of a potential shortage tomorrow.”
And so it happened — some netizens began to frantically accumulate RAM, then to sell it as expensive as possible. This situation has led to “unexpected insight” one of the commentators on reddit that wrote:
“It suddenly occurred to me that the real token EOS, at least for the near future, will be RAM. If it is supply, as suggested by Dan (Larimer), will grow to a maximum of 20%, it means that in the near future the amount of RAM is very limited. Remember what the token is EOS? Buy it to CLAIM the resources in the network EOS to run the Dapps. But these same resources are not token EOS, and RAM”.
A logical question arises — how can you avoid the kind of speculation that happened this week? One option is to hold a vote on which “founders units” (BPs) needs to decide whether to increase the total amount of memory in the network, in order to reduce the deficit.
But such developments can lead to new disagreements. So the debate about the balance of power between BPs, arbitrators and holders of the tokens in a managed network, EOS recently led the Larimer to the fact that he proposed to revise the whole Constitution and the whole project management structure.
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