Ulog: Rented some EOS CPU/NET and bought RAM

Hi guys I hope you all of you are enjoying your weekends! Today I want to share with you my experience renting my first CPU/NET and buying some RAM and why I did so.

Well to be honest I only rented CPU/NET and RAM because i wanted to participate in the EIDOS airdrop. To be honest I am not sure what is EIDOS the fact that they are already getting listed into several exchanges.

The airdrop is simple you just have to send any amount of EOS (yes any amount, you airdrop does not depend on this) to a certain address then that address will send back your deposit together with your some EIDOS tokens. This is like an unlimited airdrop so long as you have CPU to spare you can get the airdrop every second.

This is the reason why the price of CPU renting just spiked and why there is currently a shortage of CPU resources. This resource availability fluctuation is one of the main reasons I have not been active in this blockchain despite its awesomeness (aside from the fact that you have to pay for new accounts).

Nonetheless I am taking this opportunity to to explore EOS now since I finally decided to rent some resources from REX. For those who might be wondering were I rented by resources here is the link I have used. you can also buy RAM here.

Image Source

As you can see I only have a total of around 3.12+ EOS Staked and liquid for my EOS account. However because of renting 1 EOS worth of CPU resources for one month I have the same CPU resource with someone who staked 283.3929 EOS

For the benefit of those who does not know EOS resources I will try to explain in the simplest manner what it is and what is the reason they exist.

First, they exist because there are no transaction fees in EOS. Yes you got that right, unlike Ethereum and Bitcoin, EOS does not require you to pay anything to to use them. Well that was the plan. However, in lieu if this transaction fees it has this operating system-like resources that allocates resources for everyone.

This resources is allocated depending on the EOS tokens you stake or use to buy these resources. Therefore the EOS token you stake represents your claim to available resources proportionate to the amount you stake and the total stake in the EOS ecosystem.

Simply put, if you stake 1% of the total staked EOS then you are allocated 1% of the total resources of the EOS Eco system. There are three types of resources in the EOS, these are: CPU, NETWORK and RAM. CPU and Network regenerate when they are depleted you just have to wait for it to recharge. RAM does not and you need to buy more if you run out of it.

CPU and NETWORK are computing and networking resources in EOS ecosystem. CPU represents the time you use the computing power of EOS and Network represents the data the passes through it. RAM on the other hand is the Data that has been stored in the EOS blockchain.

Since I have enough EOS resources I might as well try out some interesting projects in the EOS ecosystem. One of which is ITAM. They are currently have some interesting contests for their games you might want to check it out.

The first one is a simple but addictive fishing game. The game is very well made with simple mechanics. Try to get as much SSS fishes to get real EOS!

Here is another high quality game in the ITAM ecosystem.

Well that is it for now guys I hope you liked my post. If you need more help about EOS resources or anything about this post please let me know below. I can aso share with you some links where you can get free EOS accounts!