August 3, 2018
With version update 1.12.0, Infinito Wallet is thrilled to announce our support for Buying/Selling RAM and Staking/Unstaking NET and CPU bandwidths for EOS users! From 2nd August 2018, EOS holders of Infinito Wallet can now actively participate in this blockchain’s ecosystem by starting to earn profits via purchasing and selling RAM, redistribute their default fund allocation post-MainNet launch, and conduct transactions at their convenience by recharging their NET and CPU balances.
Unlike any other blockchains out there, the EOS network comes with unique characteristics and concepts. Instead of charging transaction fees, EOS instead handles resource distribution and transaction flow control by employing the model of resources and bandwidths. There are three types of resources consumed by accounts: RAM, NET, and CPU.
RAM (Random Access Memory) is required to store, send, and receive data on the blockchain such as smart contract information and account details. It is the scarcest resource of the three and must be purchased in EOS coins. RAM’s price automatically adjusts up and down with buying and selling action which incentivizes users to partake in the RAM market to make profit.
NET (Network) and CPU (Central Processing Unit) bandwidths, on the other hand, are measured as one’s average consumption every three days. They are temporarily consumed when user send an action or transaction but decrease over time returning to zero. The more EOS tokens the user stake, the more of these two resources they can use for transactions and they can unstake any time to reclaim their tokens. After the EOS MainNet launch, most of EOS users’ funds were automatically distributed to their NET and CPU balances by default, leaving very little EOS available for use. As a result, Staking/Unstaking became a highly demanded featured by our EOS users to redistribute their post-MainNet account funds accordingly.
Together, these three essential resources facilitate transactions on the EOS network in place of transaction fees. And now, Infinito Wallet has added the exciting features of Buying/Selling RAM and Staking/Unstaking NET and CPU, with detailed guidelines below, to our universal wallet for EOS users!
Step 1: From the dashboard, select EOS coin. Inside, click on the “Info” tab then tap “Buy”.
Step 2: Select the “Unit of Purchase” and indicate the amount of RAM to buy. Press “Next” to proceed.
Step 3: Enter your password and tap “Buy” to complete the purchase.
Step 4: You have successfully purchased RAM.
Step 1: From the dashboard, select EOS coin. Inside, click on the “Info” tab then tap “Sell”.
Step 2: Indicate the amount of RAM to sell then press “Next” to proceed.
Step 3: Enter your password and tap “Sell” to complete the sale.
Step 4: You have successfully sold RAM.
Step 1: From the dashboard, select EOS coin. Inside, click on the “Info” tab then tap “Stake”.
Step 2: Indicate the amounts of NET and CPU to Stake then press “Next” to proceed.
Step 3: Enter your password and tap “Stake” to complete the process.
Step 4: You have successfully staked NET and CPU Bandwidths.
Step 1: From the dashboard, select EOS coin. Inside, click on the “Info” tab then tap “Unstake”.
Step 2: Indicate the amounts of NET and CPU to Unstake then press “Next” to proceed.
Step 3: Enter your password then tap “Unstake” to complete the process.
Step 4: You have successfully unstaked NET and CPU Bandwidths.
Note: Whenever user unstake NET and CPU, they must always reserve a small amount left in their balance as one needs these same resources to conduct a transaction to stake more EOS to their balances. Infinito Wallet streamlines this for users by disenabling you to unstake the entirety of your NET and CPU and always reserve a minimum of 0.05 EOS for CPU and 0.001 EOS for NET.
With these newly added features, EOS users can now actively participate in their chosen blockchain platform, invest, and earn profit with ease. As always, Infinito Wallet is proud to bring functional value to users in such intuitive and streamlined manners. We hope our EOS users will enjoy and make use of these handy features!
Come this August, Infinito Wallet will add support for the highly-regarded blockchain Cardano as part of its roadmap, one step closer to becoming a truly universal cryptocurrency wallet. Additionally, we will also enable EOS users from exchanges and other wallets to join our bustling Infinito Wallet community through EOS Private Key Import! It is our sole mission to be the best and most inclusive universal wallet for all crypto users and with these feature updates, we are steadily striding to this future.
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Positioning as a leading universal wallet for crypto users, Infinito Wallet serves as a gateway for users to maximize usage and potentials of their cryptocurrencies. By selectively expanding our partner network, Infinito Wallet aims to build an ecosystem of practical blockchain services including exchanges, ID/KYC solutions, and other blockchain-related business services. At the same time, we help support communities of developers and businesses with an open blockchain infrastructure of technologies and compliant-ready services, so that they can seamlessly build, launch, and operate innovative products and services efficiently.
Infinito Wallet’s core development team of blockchain R&D experts has intensive professional experience. Currently, our organization consists of more than 300 members including developers, designers, business and marketing specialists. We are promoting research on infrastructure for cryptocurrencies and developers utilizing blockchain.
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