Updates in EOS 4.0 Announcement

This article is a digest of the YouTube Video produced by the EOSGO community (2018), digging and concluding the key information about updates of EOS 4.0.

1. Market-Based RAM Allocation Model

RAM is precious resource that is needed by programmers and other people who want to trade RAM price for profit. So, Dan and his team now have implemented a one percent fee on trading to minimize speculation on the RAM market to avoid taking away RAM from the developers.

2. Name Squatting

12- character name, which is friendly and human readable names, is used instead of unreadable name in 32 characters, but the real account name is still be a long string of integers and gadgets, which is more secure.

3. Vote Decay

Voters need to revote for your vote to have more impact while they are voting for block producers and they need to vote every single week, which can make people interested in the system and research their block producers to keep up with the latest news and block producers’ upgrades.

4. Cap Block Producers’ Pay

Block producer pay is capped at 1% and rewarded based on how many votes they have as Dan and his team want block producers to always be campaigning and working for the chain.

REFERENCE

EOS GO (2018). Dawn 4.0, RAM market, Tulip Conf. etc - News & Meetups - EOSRad.io - EP11. [video] Available at: www.youtube.com/watch?v=Y1uFOQkMJwU [Accessed 24 May 2018].