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RAM is mostly used by the developers on the EOS network. It is mainly used to store the data, which is used in the production and launching of decentralized applications (dApps). In this scenario, RAM refers to general storage space in the memory database of EOS. One can also use this to create new accounts.
Users are required to purchase a minimum of 4 KB to open an account on EOS, thereby staking out a portion of EOS network's processing power for their projects.
Ranking 5th in terms of market capitalisation, many developers are adopting EOS for smart contract purposes. This in turn will increase the demand of EOS RAM in the market and indirectly helps raise the price of RAM. In such scenarios, developers will have to purchase RAM from users who actually own them. As of now, only 17% of RAM is left to be occupied. After this, on can only purchase it from the users who own them.
On 20 June 2018, RAM in EOS network costed about 0.01 EOS per kilobyte. On 1 July 2018, RAM in EOS network costed about 0.11 EOS per kilobyte. And on 3 July 2018, the price doubled to 0.20 EOS per kilobyte, before blasting off to a current rate of over 0.55 EOS per kilobyte.
Bitbns users can now purchase RAM against EOS. RAM is nothing but the memory database of EOS, so users will be required to purchase RAM in terms of kilobyte using EOS.
Founded in December 2017, Bitbns is the first cryptocurrency exchange in India to have listed more than 60 digital assets. Bitbns provides a first-class trading experience and a safe environment for users to invest and trade in digital assets in an effortless manner. Liquidity, speed, security, scalability, and ease of use are the major building blocks of Bitbns. Bitbns is based out of Bangalore.