The cost of creating a new account on the EOS (EOS) network has gone down by 25%, with each user receiving an additional allocation of RAM. One of the block producers, EOS New York, announced the changes in a blog post.
This outcome for end users came after EOS New York and 14 other block producers approved an update to the code, allocating more RAM for each user. Aside from lowering expenditure on RAM, this also reduces the complexity of purchasing the resource on the open market.
The EOS ecosystem is facing a challenge in the form of costs to onboard each new distributed app (dApp) user. Network participants have noted this may push up costs for dApp producers or create the need to pass the costs onto the client.
“EOS account creation cost is an extremely important aspect of the health of the platform. Many users of EOS decentralized applications (dApps) are early adopters, people who are eager and willing to spend the time to understand the EOS blockchain. But in the future, users will not be as eager,” EOS New York explained.
EOS RAM prices have fallen to around 0.11 EOS per kilobyte. During peak times, when EOS was close to $8, RAM speculation lifted prices to more than 0.87 EOS per kilobyte. Since then, the costs have fallen, also due to the lower market price of EOS.
However, building an app while minding the costs of each new user on top of market fluctuation is one of the biggest hurdles for EOS developers.
On September 5, EOS prices peaked for the day at $6.57. The asset was trading at $5.30 as of 06:30 UTC on September 7, up about 5.3% in the past 24 hours. Trading volumes for EOS remain active, with the equivalent of $844 million on September 6.
More than 47 of those volumes are against the Tether (USDT) token, based on data from CryptoCompare. Binance and OKEx remain the most active markets for the EOS/USDT pair.
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