RAM is the resource that we use to store data on the EOS blockchain and we use EOS tokens to purchase it. Just like the EOS token, its price can fluctuate based on supply & demand. If the demand is high, RAM prices will increase and if the demand is low, prices for RAM would lower, this is governed by the algorithm known as the Bancor Relay.
Currently a minimum of 4000 bytes of RAM is required to create a new account, although we suggest 8192 bytes incase you need to perform functions that require RAM so your account has flexibility.
- Head over to http://eostoolkit.io/
- Attach Identity with Scatter (see Scatter tutorial)
- Enter your account name into buy or sell section - this can be found in your scatter identity.
- For Buying RAM you must include the receiver account and quantity you would like to pay for RAM
- To Sell RAM you must enter the account you wish to receive EOS for sold RAM and the amount of RAM bytes you wish to sell.
- Finally hit the Buy/Sell button