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RE: Steemit Crypto Academy Season 3 Week 3: Multiple Transfers/Batch Send at one click [@sapwood]

in SteemitCryptoAcademy2 months ago

Thank you for attending the lecture in Steemit-Crypto-Academy Season 3 & doing the homework task-3

Multiple transactions on one click is very cost effect suppose if we have 100 giveaway winners and on each transaction, the cost is 0.005 ETH so if we are going to make transactions one by one then it will take 0.5 ETH as a fee

When you explain with an example, try to portray the tangible figure to make it more real. The average gas fee in Etherum Bockchain is hardly $5.

It saves the huge transaction fee

How does it save transaction fee??

See, there are two components:-

  • Transaction
  • Output

There can be a single transaction, with a single output(destination address)

There can be a single transaction with multiple outputs(destination addresses)

In both cases the transaction fees would be more or less the same(although the exact figures vary depending on the network and fee calculation). So the point to note here is that the fee is charged based on the transaction, not based on the output. That is why batch-sending to hundreds of outputs becomes cost-effective.

we can enter the address manually by separating the address and amount with a comma. eg- 0x002F388DDe19416bda0f9aCeac26386b3f9Fe6B6, 0.1

Correction-- we can enter the address manually by separating the address and amount with a comma without any space in between. eg- 0x002F388DDe19416bda0f9aCeac26386b3f9Fe6B6, 0.1

you can perform multiple transactions using Steamy

Corrrection-- Steemyy

Transfer the Same amount to different Users
Sender Id (Steem username): @amar15
Private Active Key of the Sender: *********************************
Amount: 0.001
Token (STEEM/SBD): STEEM
Send X times: 1
Interval: 3

Wrong.

You don't need Send X times & Interval in a use-cae like same amounts to different users.

hjtr.png

Here in this picture you can see I forget to insert the "Comma" that separate the ETH address and Amount. Now it is giving an error of "Invalid Record Length: expect 1, got 2 on line 2

That's an invalid format, not an invalid address

I have placed a Hyphen between the Asset and Memo which is invalid.

Again an invalid format, you should tell us your experience with a wrong/invalid address.

There is a difference between invalid and incorrect/wrong addresses.

What is wrong for you may not be wrong for the Blockchain always, and always remember, what is valid for the Blockchain is always valid for the application/tool(Steemyy).

An invalid address is not recognized by the blockchain. In Steem Blockchain, you can say this username does not exist or is not created yet.

An incorrect address(Possibly a Steem Address typo) may still be a valid address, but may not be the address you intend to make a transfer to, and in that case, you might end up losing your fund.

In Steem Blockchain, we have witnessed numerous cases of phishing attempts.

For example, @huobi-pro is the actual/official Exchange account of Huobi Exchange, but due to address typo it could become @hubi-pro which is a phishing account to prey upon the address typos.

So @hubi-pro in this case is an incorrect address for a sender, but a valid address for Steem Blockchain. Therefore always be careful and attentive when you fill out the data in the Accounts Box using Steemyy.

Steemyy does allow the transaction to go through in the cases of a valid address(recognized by Steem Blockchain), but it does not allow it in the case of invalid addresses.

Observation/Suggestion/Feedback:-

  • The author has demonstrated(with a real transaction) "how to send same amount to different users with different memos" & "how to send repetitive transfer at a predefined interval at one click" using Steemyy with all the relevant screenshots included. However, there are shortcomings and it lacks a consistent approach.
  • The author has also demonstrated how to batch send using the "Multisend" app in Etherum Blockchain with all the relevant screenshots included.
  • Quality Analysis of wrong/invalid address is missing.
  • Demonstrating a use-case with real-world application/necessity will make the presentation more creative and it would make us feel more real & useful, that way you will also score better.
  • Always emphasize the relevant fields or boxes only in a screenshot to make it easy for the readers to understand.
  • The overall structure of the assignment is poor due to inconsistencies and it lacks depth of understanding.

Thank you.


Homework Task -3 successfully accomplished
[3.5]

CriteriaCalculation
Presentation0.5/2
Consistency, Compliance with Topic0.5/2
Quality of Analysis0/2
Real Transactions0.5/2
Originality2/2
Total3.5/10
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Thank you for your review professor, I will take care.