What are iGAS and iRAM? | Learn How You Can Utilize The IOST Network
This article is written to help IOST users fully understand the A-Z of the IOST blockchain and how you can use IOST Dapps easily. We have summarised the common questions from the community and answered these questions below. We hope this article will give you some insights into blockchain technology and how the IOST ecosystem operates.
1. What are the resources of the IOST mainnet?
Working off the developments made by earlier projects in the blockchain industry, IOST has designed a significantly more user-friendly and equitable system for classifying, allocating and using mainnet resources.
IOST key network resources are divided into (a) iGAS and (b) iRAM.
If we use an equation to represent this classification, the calculation of the system resources on a public chain is as follows:
- System resources = NET (bandwidth) + CPU (computing power) + RAM (memory)
And on IOST mainnet:
- iGAS = NET (bandwidth) + CPU (computing power)
2. What is iGAS?
iGAS are the transaction fees to be paid when you make a transaction on the IOST mainnet.
3. How can I get iGAS?
You can get IGAS by pledging IOST. When you don’t need iGAS anymore, you can redeem the same amount of IOST that you have staked before.
By staking 1 IOST, you can get 100,000 iGAS/day. Every time you stake 1 IOST, you will receive 100,000 iGAS immediately, and 100,000 iGAS is produced on the same day and beyond, on a daily basis.
The maximum limit for each user for iGAS is 300,000 times the number of IOST staked (i.e., you will charge to the maximum limit in 2 days). When iGAS is less than 300,000 times, iGAS will continue to produce its iGas production speed.
4. How much iGAS will be consumed when making transactions on IOST Mainnet?
The transaction speed will be faster if users pay more iGAS. Each time a transaction is initiated, the system first calculates the number of iGAS available in your account and will use this amount to pay the transaction fees. Ordinary users can use the default rate if they are not in a hurry to complete their transactions.
The calculation formula is:
iGAS quantity = CGas (Command Gas) consumption* number of commands * Gas rate.
5. How will iGAS usage benefit users in the IOST ecosystem?
You will get iGAS only by staking IOST, and iGAS will not cost you any tokens. We make IOST truly free for users, with no barriers.
This method of calculating iGAS effectively avoids the problem of large wallet holders staking a large number of IOST to monopolize a large number of system resources and allowing these resources to idle. Therefore, this iGAS calculation mechanism ensures a level playing field for ordinary users and significantly improves the utilization efficiency of system resources as well.
6. What is iRAM?
You can receive IOST storage resources using iRAM. iRAM plays an important role in DApp development.
IOST’s iRAM calculations use the Bancor algorithm. The iRAM resources are limited and can only be traded once. The initial limit of the iRAM system is 128G. Users are charged 2% of the admin fee for buying and selling iRAM to the system, and this admin fee will be burnt. The user’s iRAM may also be used when calling a system contract.
7. How can I get iRAM?
You can purchase iRAM from the system or give iRAM to other users. The iRAM that the user is given cannot be sold to the system nor be transferred to other users a second time.
I hope you now have a clear understanding of the operation mechanism of IOST system resources! A good user experience on IOST Dapps is the top priority for us. To achieve this aim, we have made significant improvements to IOST that specifically addresses the pain points that other public chain projects are grappling with, such as transaction costs, transaction speed, and decentralization.
High fees and slower transaction times on the Ethereum network have left the door open for new solutions to emerge, and IOST is one such project that has been gaining traction since its mainnet launch in 2019.
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all. For this, the concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability to roll out a better, innovative product and reflect our true desire to be the best in the sphere.
Being one of the public chain leaders in terms of adoption, performance, and utility, IOST remains committed to our mission to unleash the power of blockchain. IOST currently has the ever-expanding 500,000 community members in over 20 countries, over 400 nodes, a top staking economy, symbiotic relationships with corporations dotted worldwide.
If you would like to hang out with the IOST community on chat, social media, or to discuss product development, we have something for everyone: