imToken 2.0.3 RC International was released with simple EOS functionalities like EOS Block Producers voting and EOS transactions. The new iteration of 2.0.4 RC International offers the support of the long awaited features of the EOS blockchain, including the following:
- Incorporated EOS wallet under your digital identity;
- Enabled EOS account creation assisted by another EOS wallet;
- Introduced purchase and sale of EOS RAM resources, staking to obtain CPU/NET resources;
- Upgraded display of EOS transaction lists;
Creating an EOS Account
1. What is an EOS Account?
As mentioned, this update includes the the support of EOS wallets, incorporated directly under the individual user’s digital identity, which means that users will be able to use just one digital identity to manage ETH, BTC and EOS wallets.
EOS utilises an account system, each standard account name is made up of 12 characters serving as a simpler form of wallet address. The process of account creation will be recorded on the EOS main network, and hence requires resources. As new users will not be able to purchase resources to carry out the process, we have also enabled a feature that allows EOS account creation assisted by another EOS wallet.
2. How to Create an EOS Account
To create an EOS account, users may share the QR code generated from the creation page with their friends or another device which has an EOS account with sufficient resources. With the current market situation, the creation of an EOS account along with some normal day-to-day transaction requires around 0.1048 EOS of NET, 0.1048 EOS of CPU, and 4.5 KB RAM.Please refer to the video tutorial at the end of the article for more information.
Purchase RAM and Stake for CPU/NET Bandwidth
EOS utilises both purchasing and staking mechanisms to exchange for resources on the main network. There are three types of resources: RAM, CPU and NET.
1. What is RAM?
RAM is consumed to store EOS blockchain data, and it has to be purchased. Users may purchase a customizable bytes of RAM according to the current market price. Users may also sell the remaining RAM to the market for EOS if desired. Every purchase or sale of RAM will incur a 0.5% EOS commission fee.
2. What is NET (Network Bandwidth)?
The amount of NET (Network Bandwidth) required for subsequent transaction is determined using three-day average of consumption from prior transactions. Users will not be able to carry out transactions without having sufficient NET resource in the wallet. However, the consumed NET will be automatically released as time passes.
The difference with RAM is that NET is obtained through staking EOS, users can also choose to return the NET to unstake the EOS, thereby receiving the reclaimed EOS after 72 hours.
3. What is CPU (CPU Bandwidth)?
CPU resource is similar to NET resource, the amount of CPU required for subsequent transaction is determined using a three-day average of consumption from prior transactions. Similarly, users will not be able to carry out transactions without having sufficient CPU resource in the wallet. However, the consumed CPU will be automatically released as time passes.
The difference with RAM is that CPU is obtained through staking EOS, users can also choose to return the CPU to unstake the EOS, thereby receiving the reclaimed EOS after 72 hours.
4. How to Purchase or Sell Resources?
Users can now purchase or sell RAM with imToken, and also stake EOS to obtain CPU/NET resources.
At the EOS wallet page, click on the "..." at the top right hand corner of your EOS wallet. Enter the "Manage" EOS wallet page, click on resource management to enter "Resource Management” to purchase RAM or stake for bandwidth. Users can also amend the recipient address to purchase the resources for others.Please refer to the video tutorial at the end of the article for more information.
Note: As the price of RAM fluctuates, the price users see on the “Resource Management” page initially may be different from the final purchasing price. Please refer to the EOS blockchain to check on the final purchasing price.
5. EOS Wallet Video Demonstration
EOS Wallet Video Demonstration: https://v.qq.com/x/page/d0710pvpskw.html
For more information about imToken 2.0, please visit imToken official website https://token.im to download.
If you have any feedback or suggestions, please let us know at [email protected].