Connect with us

Altcoins

Bitbns becomes the first platform for EOS RAM trading

Priyamvada Singh

Published

on

Bitbns becomes the first platform for EOS RAM trading
Source: Pixabay

Indian crypto exchange Bitbns on 6th July announced that it has added EOS RAM for trading on its platform. Bitbns, in its blog, has also mentioned that it is the only Indian cryptocurrency exchange to have listed over 50 digital assets. It is also the first global exchange to have listed EOS RAM for trading.

Bitbns' recent tweet | Source: Twitter

Bitbns’ recent tweet | Source: Twitter

RAM [Random Access Memory] is a digital property of a computer required to store transaction data such as keys, balances and contract state. The RAM allotted to a system is decided by certain technological laws. To solve this, EOSIO has devised a free-market plan. Communities that fall short on RAM can buy and sell it across the EOSIO ecosystem in exchange for EOS, which is EOSIO’s native crypto coin.

Interestingly, the price of RAM will be controlled by the demand for EOS smart contracts among the developers. This will also pump the demand for high EOS RAM leading to a hike in EOS RAM price for trading.

when there is high demand, users will only be able to buy RAM from another user who owns it, rather than buying it from the system. According to Bitbns, only -17% RAM is left for a direct sale.

The price of EOS RAM has gone up from an estimated 0.01 EOS per kilobyte on 20th June to 0.20 EOS/KB on 3rd July. Currently, EOS RAM is selling at a rocketed price of about 0.57 EOS/KB.

A Twitter user and Bitbns follower, Kaushal, commented:



“I have placed an order to buy (20 mins back) EOS ram… But it hasn’t reflected yet.”

To this, Bitbns replied:

“It is still in open order as it is not executed may be the price you have set is not matching with first come first serve”

In another comment, Osmangani, a crypto fan requested:

“Please Add Manna, STEEM, BITCOINTOKEN (BTK), REFEREUM”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Altcoins

Rabobank announces plans to drop its crypto-project

Sarvesh Kumar

Published

on

Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,



“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending