The EOS Network has introduced the Wrapped RAM – an innovation that aims to turn the Random Access Memory (RAM) on EOS – real-world assets into digital tokens, making trading easier and more widespread.
EOS believes that introducing WRAM is a huge advancement in making EOS RAM easier to trade and accessible. RAM, a crucial but often overlooked asset in the blockchain world, stands to benefit greatly from this development.
According to EOS, WRAM brings about a revolution in resource management, unlocking various opportunities. It allows RAM resources to be traded on major exchanges, provides better visibility into the EOS RAM market through platforms like CoinMarketCap and CoinGecko, and expands the horizons of blockchain resource management.
RAM, is a vital yet limited resource within the EOS Network. It plays a crucial role in operating decentralized applications (dApps), managing smart contracts, and executing transactions.
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Normally, As a system-critical resource, RAM can only be traded or exchanged through a system-level Automated Market Maker (AMM). However, Wrapped RAM (WRAM), a tokenized version of RAM, offers greater flexibility, allowing it to be moved off-chain, traded on exchanges, used in different wallets, and listed on various third-party websites.
WRAM simplifies RAM management by allowing easy conversion between system RAM bytes and WRAM tokens. Transactions involving “buyram” and “buyrambytes” incur a small 0.5% charge when issuing WRAM tokens. However, there are no fees associated with “ramtransfer” actions in WRAM issuance, making RAM administration more efficient.
Per EOS, the tokenization of RAM is made possible by the EOS system contract v3.3.0 upgrade. WRAM can also be bridged to other blockchains like Ethereum and BNB Chain, enabling trading on decentralized exchanges such as Uniswap and Pancakeswap. This not only creates new growth opportunities but also enhances liquidity in the market.
