Bitbns launches EOS RAM trading

Bitbns a Bangalore based Crypto assets exchange has been launched EOS RAM trading for the first time in the world. Bitbns is the first exchange globally making EOS RAM trading available.Also this will be the first and unique crypto trading pair available across the the globe.

What is RAM?

On the EOS network, RAM is mostly used by developers to store the data used in the launching and production of decentralized applications (dApps). RAM, in this case, refers to general storage space in the EOS memory database, and can also be used to create new accounts.

Users have to purchase a minimum of four kilobytes to open an account on EOS, essentially staking out a portion of the network’s processing power for their own projects.

EOS ranks 5th in terms of market capitalisation. With more developers adopting EOS for smart contract purpose, the demand of EOS RAM required will increase in the market, indirectly raising the price of RAM. In such cases, developers will be required to purchase the RAM from the users who own them. Only ~17% of RAM is left to be occupied after which it can only be purchased from the user who owns it.

After RBI restriction banks to deal with crypto exchanges several exchanges seeks alternative methods to continue trading in India.Bitbns is first exchange that They have introduced EOS RAM for traders and now traders can purchase EOS RAM and trade other crypto currencies with this.
Posted On: Jul 10, 2018

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