Crypto Academy / Season 3 / Week 3 || Homework Post for @sapwood | Multiple Transfers/Batch Send at one click

Greetings to everyone in this community. It another weekend and another opportunity to learn under the umbrella of different professors. Today I attended the lecture of Professor @sapwood and it was a great lecture.
The professor talked about "Multiple Transfers/Batch Send at one click", I wasn't aware of such Dapps untill today that I read the lecture of the professor. And now I will be completing his homework task hope you enjoy it.

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What do multiple transactions in a single click mean? How does it save transaction fees? What are the other benefits?

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Transferring/sending a token in the crypto world can be cheap and fast, depending on the blockchain that the token is built on. However, the importance of being able to make multiple transactions in one click, on the other hand, cannot be overstated, with the help of some Dapps, users can easily make a multiple transactions in just one click.

Multiple transaction in a single click simple means the process of transferring funds to different addresses on a go (at once).

With this, it means we can transfer funds to different user with the same amount or different amount depending on the type of deal we are running.

For instance, on the Steem blockchain. Let assumed, I organised a contest with a total prize tag of 5 STEEM to be distributed among 5 winners, and at the end of the contest there are 5 winners. Now I want to distribute the prize equally to each of the winners. that is I will have to divide the 5 STEEM among the 5 winners, meaning each winner will be awarded 1 steem each.
With the help of the multiple transactions in one click tool (steemyy) I can easily send 1 Steem to each winner on a single click, this automatically save my time and the stress to be sending the prize one after the other. I can easily use the available time to attend to some other things.

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How multiple transactions in one click save transaction fees

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As stated earlier, multiple transaction in one click simple mean sending funds to more than one different address at once, the transaction fee imposed on a single transaction is the same on the multiple transaction on one click. However the fee also depend on the blockchain, for instance on the Steem blockchain, there are no transaction fee, either you are running a single transaction or multiple transaction.

However, on the Ethereum blockchain there are certain fee required to perform transactions, although the same fee imposed on a single transaction will be also be the same on a multiple transaction in one click.

For example, if I intend to send 1 ETH each to 10 different addresses, and the fee imposed on sending to one address is 0.01 ETH, using the DApps that allow multiple transaction in one click, I can easily send 1 ETH each to 10 different addresses and the fee will still be the same 0.01 ETH compare to sending in one by one which will require a total fee of 0.1.

From the example above with the help of the multiple transaction in one click have been able to save a total of 0.09 ETH transaction fee and also the time It will take me to send it to all the 19 addresses one by one.

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Other Benefits

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Apart from saving transaction fee and time there are other benefits which includes;

• Lesser Time and Consume less Data (Browsing): For instance, sending funds to 50 different addresses one by one will take time and incase we are using mobile wallet or web wallet all this wallet requires data (Subscription) to operate, sending it one by one will consume our data but with multiple transaction in one click this will save time and also the data involved to browse the internet.

• Highly Efficient and Less-time consuming: Another benefit of multiple transactions in a single click is that it is highly efficient, with less time consuming. As a result, when compared to transacting one by one, this feature is highly efficient and also save time.

• Inexpensive: Multiple transactions in one click save money on transaction costs since the transactions are considered as being to a single transaction, resulting in lower transaction fees than if they were done one by one.

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How to connect my Ethereum Wallet (Metamask) to Multisender

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Connecting a MetaMask wallet to a Multisender requires some steps, I will be talking about the steps involved one after the other.

Let's assume we already have the Metamask wallet installed, or that we'll need to do so later.

Step 1: Visit https://multisender.app/, and on the homepage, at the upper side of the page locate "Connect" click on it.

_{Click on Connect}

Step 2: A page will pop up displaying two wallet type namely "Meta-Mask" and "Walletconnect". Since am dealing with MetaMask wallet I then select it.

_{Select MetaMask wallet}

Step 3: Now the MetaMask wallet address and name will be displayed, I click on "Next" to continue, after that I click on "Connect"

_{Click on "Next" to continue}

_{Connect MetaMask to Multisender}

Now I have successfully connected my MetaMask wallet to Multisender Dapps

_{Successfully Connected}

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Use-case- Transfer the same/different amount(ETH/ERC20) to different users.

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• Now that the MetaMask wallet has been connected, Select ETH or ERC 20 coin from the multisender main page. Select the desired token from a list of tokens . I intend to send ETH, I navigate to the search box and click on it then I select "ETH-0-Mainnet native currency"

_{Search and select the Token}

• I inputted the recipient addresses in CVS format, that is the address follow by comma (,) then the amount without space in between.

I intend to send to 3 different addresses, so I inputted it in this format and click on "Send"

User 1 address,0.01
User 2 address,0.02
User 3 address,0.03

_{The three (3) recipient addresses}

• The list of the three (3) was displayed with the amount of ETH I want to send to each of them and the total ETH was also displayed. I couldn't Approve the transaction due to Insufficient balance

_{Insufficient balance and I couldn't Approve the transaction}

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Using Steemyy to perform multiple transactions(STEEM or SBD) in one click.

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Steemyy is tool that was developed by one of the steem witness @justyy, this tool has a unique feature that allow user to perform multiple transaction in one click either sending Steem or SBD. In this task I will be discussing the steps involve and also the different use-case.

• Visit https://www.steemyy.com/ and click on "Tools" from the top of the page.

_{The homepage of Steemyy}

• Scroll down a bit and Select the "Steem wallet tool" - "Send SBD or STEEM to multiple accounts".

_{Tools page}

• When transferring to multiple accounts with Steemyy, there are several requirements to meet, such the Sender Steem ID, Sender Active Key, the Amount, Token (SBD/STEEM), interval (incase of repeating transaction), Memo, receiver accounts, and so on.

_{Send SBD or STEEM to multiple accounts}

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Use-case (a)- Transfer same amount(STEEM) to different users

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To send same amounts to different user/account the steps includes;

• Steem ID: I enter my steem ID (tayetaiwo) without @

• Active Key: Then I enter my private active key

• Amount: Enter the amount you want to send, I am sending (0.001 STEEM) and since it the same for all.

• Select token: here we need to select the token whether STEEM/SBD since am dealing with Steem I select Steem.

• Send X times and Interval: I left the column the way they are since we are not performing the repetitive/reccuring transaction.

• Memo: I enter the Memo as "Happy day" which is the same for all the multiple transaction.

• Accounts Then I type in the account carefully as the account need to be enter per line. You can enter it with or without @

bright-obias
tht
the-gorilla

Then click on the "Send" button

_{Input details then click on send}

• Once done, the console below will displayed the date, time and Block number of the transaction.

_{Date and Block number}

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Use-case (b)- Transfer different amounts (STEEM) to different users.

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• Steem ID: I enter my steem ID (tayetaiwo) without @

• Active Key: Then I enter my private active key

• Amount: I left this column, since I will be sending different amount

• Select token: here we need to select the token whether STEEM/SBD since am dealing with Steem I select Steem.

• Send X times and Interval: Just like the previous one I left the column the way they are since we are not performing the repetitive/reccuring transaction.

• Memo: If you are sending the same memo for all the transaction then input the memo, but if it is different memo just leave the column. In this case I will be sending different memo so I left the column empty.

• Account Now input the receiver username, follow by space, enter the amount, follow by space, enter the unit (STEEM), another space the finally input the memo..

bright-obias 0.001 STEEM Thank you
tht 0.002 STEEM Gift
the-gorilla 0.003 STEEM Appreciation

I am sending different amount 0.001, 0.002 and 0.003 respectively to three (3) different account with different memo(s), and then proceed to hit the "Send" button.

• The transaction was successful and console will show the block number and date of the transaction.

_{Date and Block number}

Use-case (b)- Transfer recurring/repetitive amount(STEEM) to a single user(or multiple users) at a pre-defined interval

• Steem ID: I enter my steem ID (tayetaiwo) without @

• Active Key: Then I enter my private active key

• Amount: I left this column, since I will be sending different amount to different users

• Select token: here we need to select the token whether STEEM/SBD since am dealing with Steem I select Steem.

• Send X times and Interval: There are two section available here "Send X times" that is the number of time I want to send the token and "Interval" that is how long (seconds) it will take for each token to be sent.

For instance, I will be send 0.001 and 0.002 to two different users, and I want the transaction to be done 4 times in 60 seconds.

So I inputted 4 in the "Send X times" section and 60 in the "Interval" section, and select "seconds".

• Memo: If you are sending the same memo for all the transaction then input the memo, but if it is different memo just leave the column. In this case I will be sending different memo so I left the column empty.

• Accounts: Now input the receiver username, follow by space, enter the amount, follow by space, enter the unit (STEEM), another space the finally input the memo..

bright-obias 0.001 STEEM Good job
tht 0.002 STEEM Appreciation reward

I am sending 0.001 STEEM and 0.002 STEEM to @bright-obias and @tht respectively, with "Good job" and "Appreciation reward" as the memo respectively, this transaction will be done 4 times and at 60 seconds interval.

_{Input the details and click on send}

Finally hit the "Send" button, the pre-defined interval transaction was successful and console will show the block number and date of the transaction.

_{The first Transaction in 60 sec}

The second and Third Transaction

_{The fourth transaction}

Precisely, I have sent a total of 0.004 and 0.008 to @bright-obias and @tht respectively in 4 minutes (240 sec)*

What if you enter a wrong/invalid address in Multisender or Multisend(dApps) and Steemyy(dApp)?

On a Multisender, the Multiple transaction feature was designed in a unique way to detect errors in addresses entered by the user/sender, and immediately alert the user/sender with an error warning if this occurs.

Now let me illustrate using a Multisender, the steps includes;

Step 1 Since I have connected my MetaMask wallet to the Multisender platform, I navigate to the token section.

Step 2: Select ETH, and in the recipient address section, I intentionally enter one correct address and one wrong address, and click on "Send" button

_{One correct address and one wrong address}

Step 3 I click on "Next" to proceed and I was notified immediately "Line 2 Wrong address" and the wrong address was highlighted in red colour.

_{The transaction didn't execute because of one wrong address}

From the above screenshoots Multisender prevented the transaction from taking place since it contain one wrong address

Steemyy- Wrong/invalid address

The same basic steps for performing multiple transaction will still be the same, but I will intentionally enter a wrong account.

• Steem ID: I enter my steem ID (tayetaiwo) without @

• Active Key: Then I enter my private active key

• Amount: for this illustration I want to send 0.002 STEEM, so I inputted it.

• Select token: here we need to select the token whether STEEM/SBD since am dealing with Steem I select Steem.

• Send X times and Interval: I left the column the way they are since we are not performing the repetitive/reccuring transaction.

• Memo: for this illustration, I inputted "Happy day" as memo

• Account Here I intentionally enter a wrong address, instead of bright-obas I entered bright-obias and the-gorrila instead of the-gorilla, and I hit the "Send" button.

_{Input details and click Send}

• Instead of showing the transaction details, the message shown in the console was "Unknown Key" , that is the transaction wasn't executed.

_{Unknown Key (Wrong address)}

*Looking at screenshoots above, the steemyy tool didn't execute the transaction and prevent it from taking place since it contain wrong/invalid addresses

Conclusion

Multiple transactions at a single click have made transactions in the crypto world very fast, efficient and can manage a large number of transaction with lesser transaction fee, user can easily send the same/different amount of token to different user on a click eliminating the time and fee involved sending it one after the other.

This has been a great lecture, I'd like to thank @sapwood for taking the time to provide this lecture.

Thank you all for taking your time to read, I hope you enjoyed it.

Cc: @sapwood