EOS community approved to increase RAM on EOS
EOS Authority has revealed on 26 July that the EOS community has approved to upgrade RAM on the platform. The current limit is for the Random Access Memory [RAM] in the platform is 64GB. The platform will gradually increase the RAM limit to 1kb per block.
The platform assigned block producers to conduct a vote to continue with the RAM upgrade. 15 representative BP’s voted ‘Yes’ to pursue the upgrade.
EOS block producers are governing bodies which are decentralized. The main task of block producers is to supervise and control the EOS network functions. Also, the information of the blockchain recorded on the blocks of the EOS blockchain platform is controlled by the block producers.
There are a certain set of rules to be followed by block producers for voting on platform. At a time only 21 block producers can exist on the network, 15 of which voted ‘For’ the upgrade. There are various strata of block producers in the market, big cryptocurrency exchanges being the most powerful ones.
Is the RAM upgrade useful?
Random Access Memory [RAM] is very much important in the platform. According to sources, the network functions on the policy of supply and demand. When there is a high demand on the platform for RAM, a user cannot buy directly from the platform but can by from another user. This issue was presented by the users on the network. The only way to resolve the problem was to upgrade RAM. A user can buy or sell RAM but is restricted to exchange RAM.
After the news of RAM upgrade came out, the price of EOS RAM increased significantly, above 900 EOS/MB- $6399 approximately.
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