EOS (EOS): Resource Planner is live, know all about the open source tool
EOS (EOS) announced on Medium that they started working on the EOS Resource Planner three months ago and finally the network is now live. They have finished with the MVP which can be found at https://www.eosrp.io/.
What is EOS Resource Planner or ERP?
The EOS Resource Planner is an open source tool that can answer simple questions every developer is going to ask. The open source code will allow it to be used anywhere by anyone. Let’s take a look at each of the resources.
RAM is essential for storing data on the EOS blockchain and is to be purchased. It’s a quick read/write access to a storage device. The price of RAM is set by the EOSIO software and based on the demand and supply it automatically adjusts up or down. For the sale and purchase of RAM, around 0.5% fee is applied. These funds are then sent to the Worker Proposal Fund.
Network Bandwidth is known as the average rate of data transfer that successfully takes place through a communication path. Over the last three days, the average of consumption in bytes is measured. The network bandwidth used accumulates every time a transaction or some other action is done. It decreases when not used. More the tokens are staked for the network bandwidth, more the users will be able to use it. To reclaim EOS token, users can unstake it anytime. All EOS tokens are returned to the user, fees are not applied here.
The rate at which the data from a storage device can be read is the CPU Bandwidth. It is generally measured by taking the average consumption in microseconds in the last 3 days. In this as well CPU bandwidth used accumulates every time some transaction or some other action is done. When it’s not in use, it slowly decreases. The longer it takes for a transaction, the more CPU bandwidth will be consumed. To reclaim EOS token, users can unstake it anytime. All EOS tokens are returned to the user, fees are not applied here.
The announcement made on Medium mentioned the roadmap for future features which included, historical charting of metrics, exact RAM cost calculation (using Bancor algorithm) and estimates of future resource price. Also, they might work on pasting contract code in order to get the exact cost to deploy/run actions against it. In future, they would also work on average Chintai pricing and Storage pricing.
Image via Shutterstock
Join our Telegram group