EOS Creator Daniel Larimer : Don’t Speculate On EOS RAM as It’s Getting More Abundant
Daniel Larimer, the creator of EOS, a popular blockchain platform for decentralized applications(DApps), has recently advised crypto enthusiasts not to purchase or sell RAM, the state storage on the EOS network, for speculative purposes due to growing supplies.
Interacting with users of the EOS Telegram group earlier this week, Larimer, the chief technology officer(CTO) at Block.one, the company behind EOS, responded to a question regarding RAM speculation, saying that don’t speculate on RAM which is used for DApp development because “ it’s going to get more abundant”, and suggesting that users “buy it when necessary and sell it when done”.
EOS Ram purchasing ran rampant in July 2018 as many speculators saw it as a way to make quick money, posing a real threat to the EOS network’s intended function as an operating system for DApps. It once reached as almost 920 EOS (around $8,160 at that time) per 1MB of RAM on July 4,2018 and the prohibitively high price deterred developers from purchasing critical memory resources for their projects.
But after the speculation frenzy, the RAM price movement is back to normal. 1 RAM costs $0.002362 at the press time, according to data from Bitbns.
When asked about why June 1,2019 holds great significance to EOS, Larimer emphasized again that the team behind EOS will unveil what they have achieved and where they are heading that day.
EOS finished their $4 billion Initial Coin Offering(ICO) on June 1, and Block.one plans to hold events in the upcoming June to celebrate its anniversary. Larimer revealed in the same Telegram group nearly one month ago that “June will be biggest news since EOSIO announcement”, but he refused to divulge any more information.
He also added on the recent Telegram chat that the team will double down on the scalability issue in the future, claiming that “Over the next year,EOSIO will scale far faster than competition and our journey with EOSIO is only beginning. EOS is constantly evaluating scaling options including shards.”
EOS, the fifth largest crypto at around $5 billion market capitalization, is trading at $5.49, up 0.74 percent over the past 24 hours, according to coinmarketcap.