{"id":81721,"date":"2018-09-08T12:00:25","date_gmt":"2018-09-08T19:00:25","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=81721"},"modified":"2019-11-07T02:27:28","modified_gmt":"2019-11-07T02:27:28","slug":"eos-reduces-account-creation-costs-by-25-percent","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/eos-reduces-account-creation-costs-by-25-percent\/","title":{"rendered":"EOS Reduces Account Creation Costs by 25 Percent"},"content":{"rendered":"<p>EOS' market-based RAM distribution approach has caused new account creation costs to rise beyond affordability. To combat this issue, <a href=\"http:\/\/cryptoslate.com\/coins\/eos\">EOS<\/a> block producers approved an update to decrease account creation costs by 25 percent.<\/p>\n<h2>New EOS Accounts Now Require Less RAM<\/h2>\n<p>Fifteen EOS block producers voted to decrease the minimum amount of RAM required to purchase a new account and approved the EOSIO\u00a0v1.2.1 update, according to a <a href=\"https:\/\/medium.com\/eos-new-york\/the-cost-of-account-creation-on-eos-has-been-reduced-by-25-6e10a273c54c\">blog post<\/a>.<\/p>\n<p>On Sept. 6, EOS New York and 14 other block producers voted to implement the hard-coded change. Starting Thursday, new EOS accounts will require 3 kibibytes (KiB) instead of 4 KiB.<\/p>\n<figure id=\"attachment_71019\" aria-describedby=\"caption-attachment-71019\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-71019\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/eos-ram-social-300x158.jpg\" alt=\"\" width=\"300\" height=\"158\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/eos-ram-social-300x158.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/eos-ram-social-768x403.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/eos-ram-social-1024x538.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/eos-ram-social.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-71019\" class=\"wp-caption-text\">Related:\u00a0<a title=\"EOS Block Producers Vote to Raise RAM Supply to Lower Cost of Running dApps\" href=\"https:\/\/cryptoslate.com\/eos-block-producers-vote-to-raise-ram-supply-to-lower-cost-of-running-dapps\/\">EOS Block Producers Vote to Raise RAM Supply to Lower Cost of Running dApps<\/a><\/figcaption><\/figure>\n<p>The update also gives new users a free 1,400 bytes of RAM upon account creation. Users who created an\u00a0account before the EOSIO v1.2.1 update are still eligible for the free 1,400 bytes of RAM if they stake, unstake\u00a0or buy RAM from the EOS network's RAM market.<\/p>\n<p>However, EOS users need to create an account if they want to launch transactions or transfer tokens within the network.<\/p>\n<p>The cost reduction is aimed at increasing the onboarding of new users to the platform as well as promoting decentralized application (dApp) development.<\/p>\n<p>EOS New York described how reducing account creation costs will improve dApp development on the blockchain:<\/p>\n<blockquote><p>&#8220;The users of the future will want to use the new dApp they found as quickly as possible. &#8230; For that to happen, dApp developers will need to pay for the network resources required to onboard users (or pass this cost on to users). Reducing this cost by 25 percent dramatically reduces the barriers to development when considering account creation at scale.&#8221;<\/p><\/blockquote>\n<p>Previously, EOS block producers <a href=\"https:\/\/cryptoslate.com\/eos-block-producers-vote-to-raise-ram-supply-to-lower-cost-of-running-dapps\/\">voted<\/a> to double the network's total RAM supply in an effort to lower the cost of launching dApps. At the time, EOS RAM prices had risen drastically due to hoarders and speculators holding nearly 85 percent of the network\u2019s RAM capacity\u2013preventing developers from accessing necessary RAM for building and deploying dApps.<\/p>\n<p>On July 24, 15 of 21 active block producers voted to approve the network upgrade and increase the EOS RAM capacity from 64GB to 128GB. Requiring 15 votes to pass, the upgrade is currently in effect.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EOS&#8217; market-based RAM distribution approach has caused new account creation costs to rise beyond affordability. To combat this issue, EOS block producers approved an update to decrease account creation costs by 25 percent. New EOS Accounts Now Require Less RAM Fifteen EOS block producers voted to decrease the minimum amount of RAM required to purchase [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15323,37],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EOS Reduces Account Creation Costs by 25 Percent<\/title>\n<meta name=\"description\" content=\"Fifteen EOS block producers voted to decrease the minimum amount of RAM required to purchase a new account and approved the EOSIO\u00a0v1.2.1 update.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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