Crypto Academy / Season 3 / Week 3 - Homework Post for [@sapwood] Multiple Transfers/Batch Send at one click
(1) ¿What does multiple transactions mean in one click? How are transaction fees saved? What are the other benefits?
Many times we have asked ourselves, How can operations be carried out to several people, with different amounts, in such a short time? Today there are applications or platforms that help us and facilitate the process to carry out multiple transactions with just one click.
We all know that carrying out a transaction can cost us a high percentage in commissions, (Of course it will also depend on the platform we are using), but carrying out multiple transactions with just one click can bring us many advantages (if we use a suitable DApp), for example:
• It will bring us greater profitability to carry out multiple operations with just one click, since the commission cost that we will have to pay to carry out ** a single transaction **, will be the same that we pay to carry out ** many transactions ** of different amounts , to different users.
• By performing multiple operations in just one click, we will not save the time of carrying out each transaction separately, therefore, this option is much easier and faster than performing each operation individually.
• It facilitates the payment process for large companies and companies that must pay the salary in cryptocurrencies to multiple workers, therefore, this option is much more profitable and easy to do.
As we know, Ethereum blockchain offers us the ** "Multisender" ** and ** "Multisend" ** platforms for the use and benefit of users who want to transfer multiple transactions in a single operation, at low cost, and in one way. more escalebale, in addition, as the professor explained to us, it brings advantages to the network, since it helps them to organize themselves with the commercial requirements they may have
In the case of Steem blockchain, we have the platform ** "Steemyy" **, where it helps us to transfer the rewards that will be given to the multiple winners of contests that take place within the platform, which is very beneficial, since that we will save time and less expenses in commissions, and we will do it with just one click.
So as we can see, by making multiple transactions with just one click we can send the same amount of an asset to several addresses, or we can send transactions with different amounts to various addresses, giving us the advantage of reducing: time, spending on commissions and the double sending error, which is very profitable for companies / or users who decide to use it.
(2) ¿How do you connect your Etherum Wallet (Metamask) to Multisend or Multisender (dApps) and make multiple transactions (ETH / ERC20) with one click? Using Steemyy, how do you make multiple transactions (STEEM or SBD) with one click?
In this case I chose the "Multisender" platform to connect my Metamask wallet, then I entered its page: Multisender.app
• How can we see, on the main page we will see an ad that says "Please connect your Ethereum wallet to Multisender.app", and we will click there.
• Then a page will appear where it indicates the options to connect our Metamask wallet to the page:
• We will click on the Metamask box, and it will take us directly to our wallet:
• Here we will see an ad that tells us that if we want our wallet to connect with "Multisender.app", indicating that this DApp could see our public address of it.
• Once we agree with the terms, we will click where it says "Connect".
• Then it will show us a message indicating that our wallet was successfully connected with "Token Multisender DApp Smart Contract", and that we can return to the initial page to continue with the operation that we are going to perform.
Now to perform multiple operations with just one click through Multisender, we return again to the initial page and automatically our wallet address will be linked, we just have to do the following:
• Click on where it says "Token address" and the address of our already linked wallet will appear.
• In the big box that says "List of Addresses a CSV", we are going to put the addresses where we will send the tokens and the amount.
• But to see an example of how we should place the addresses and the amount, we will click on where it says "Show example CSV", and a clear example of it will appear:
• As we can see, first we enter the address where we are going to send it, then we place a comma (,) and finally the amount.
• Before placing all the data, we must know that there does not have to be a space (before or after) the address, the comma and the amount (,) since everything must be pasted, without space.
• Finally I put the addresses and the amounts to send:
• We will click where it says "Send" and it will take us to the list of recipients, where we can check each of the data and amounts to send.
• We can also see the total tokens that we are going to send in this case would be (1.02) ETH, and the tokens that I have available.
• Finally, to carry out our multiple transaction, we will click on where it says "Send" and this is how our operation will be executed.
(As we can see I do not have enough balance to perform the operation, however here I show in detail how to perform multiple operations in one)
• Using Steemyy, how do you make multiple transactions? (STEEM or SBD)
"Steemyy" is a platform developed within the Steemit blockchain, it was created by @justyy and it helps us to carry out multiple operations for the benefit of our account, some of them are:
• How to delegate SP
• How to review historical transfers
• Steem Auto Claim Rewards
• Votes cast
• Votes received
• Delegations issued and received
And of course it allows us to send tokens such as STEEM AND SBD to other addresses, we have three options to perform these operations, I will detail them one by one:
(1) Transfer the same amount of STEEM or SBD to different accounts:
To do this we just have to go to its main page:
• At the top of the page, we can see the multiple tools that it offers us, and we will select the tool "Tool"
• When you select it, it will show us all the tools that you have at our disposal, however, we will select the one that says "Steem Wallet Tool - Send SBD or STEEM to Multiple Accounts".
• Then it will automatically take us to the page where we are going to carry out our operations, as we can see, there are several forms to fill out with some data and addresses that we must complete to carry out our operation, such as:
✓ Our Steem ID
✓ Our private key
✓ The amount to Transfer
✓ The token that we are going to send (SBD) or (STEEM)
✓ Time intervals
✓ A memo
✓ The address of the users to whom we are going to transfer
Then we must fill out the form with the data mentioned above:
• In the first section I placed my username within the platform without the at sign (@).
• In the second section I put my private active key. (Bearing in mind that this key will not be saved or stored)
• In the third section I put the amount to send.
• In the fourth section I indicated what type of token I am going to send (SBD) OR (STEEM), and the time interval I want, plus the number of times I want to send it (X times). In this case I chose STEEM.
• In the fifth section I placed the memo that I wanted to put for my transaction.
• In the sixth line I put the names of the users where I was going to transfer, they can be written without at sign (@) or with at sign , this does not interfere at all in the process, and they must be separated by one line each.
Here I show you my form:
(For the screenshot, I did not enter my private key for security reasons)
• Once all our data is ready, we will click where it says "Send".
• "Steemyy" will inform us that if we wish to continue with the procedure, and when we check again that everything is correct, we will click on accept:
• And finally, our operation was successfully completed in just a few seconds. Here we can see some important details like the block number, the date, the time and the recipient.
(2) Transfer different amounts of STEEM or SBD to different accounts.
To perform this type of multiple operations but with different amounts, we will go back to the same tool "Tool" in the "Steem Wallet Tool - Send SBD or STEEM to Multiple Accounts" section, and We will go back to the same form, and we will fill out the following:
• Our Steemit ID, remember that it must be written without the at sign (@).
• Our private active key (That is not stored or saved)
• We will select the token we want to send (STEEM) or (SBD).
• In the section of the amount to be placed, we will leave it blank, and we will not change the intervals of times or of (X times)
• In the Memo section, we will leave it blank as well.
• Now, where we put the user's address, it can be written with or without an at sign (@), we will also place the amount, the token, and the memo. (That is why it was not written previously, as it would be placed in this section).
Here I show you my form:
• To finish we click on where it says "SEND", and we will receive a message from the platform indicating the confirmation of our operation:
• Once everything is ready and confirmed, we proceed to click "accept".
• And in just seconds, our operation will be carried out quickly and easily, here we can verify it:
• We can see details of the transaction such as the block number, date, time, recipient, amount, etc.
(3) Transfer a repeating amount (STEEM or SBD) to a single account (or multiple accounts) at a defined interval.
In this case, as the teacher explained to us in his class, these types of transfers are normally used to make a refund, or a loan in a defined time interval through installments, we only have to do the following:
• To perform this type of operations we must go back to the tool "Tool", and click on the section "Steem Wallet Tool - Send SBD or STEEM to Multiple Accounts"
• Once the form appears again, we must fill in the blanks with our data, for example:
✓Our Steemit ID without the at sign (@)
✓Our private active key (That is not stored or saved)
✓ The amount to send
✓ The token we want to send (STEEM) or (SBD)
✓ As this type of transfer is repetitive, we must specify (send X times) and the time intervals in which they will be sent (They can be seconds, minutes, hours, days, weeks)
✓The memo / note that we want to add
✓ The addresses where we are going to carry out our operations, (they can be written with the (@) or without it)
Here I show you my form:
Once my data was completely ready, I proceeded to click "SEND" and the platform sent me the following message before performing the operation:
Then we will click on "accept", and once we have confirmed everything again, after a few seconds our operation will be carried out.
In this case, we can see that my loan was 0.004 STEEM, and I decided to pay it in 4 parts, in a time interval of 60 seconds, that is 0.001 STEEM for every 60 seconds.
Then we can see the details of each of the transactions, such as the number of the block, the amount of the recipient, the date, the time, the amount:
(3)What happens if you enter a wrong / invalid address in Multisender or Multisend (dApps) and Steemyy (dApp)? Does the app (Steemyy on Steem Blockchain or Multisender on Etherum) allow the transaction to go through if you entered an incorrect or invalid address?
In this case I entered the "Multisender" page, and after I connected my wallet, I proceeded to Enter the addresses where I will make my transaction, in this case I will present three options for incorrect / invalid addresses:
A) In the first case I will enter three types of addresses, in which 1 of them will be incorrect, that is, it does not exist in the network:
Each of the addresses are:
• 0xb3a2f046b75e463A87E21Ecf0A3a3bD1E3144193,0.01
• 0xF82FA4860d09A55fE59Bd6271331CFdF9d68B22B,1
• 0xA84B750c96116cdE80e605bfdBE1BFC22janedbh,0.01
And when you click on "Send", it will appear that the third address that we have entered is incorrect / invalid, that is, it is not a valid address in Ethereum blockchain, so it shows us the following message:
"Line 3: the given address" 0xA84B750c96116cdE80e605bfdBE1BFC22janedbh "is not a valid Ethereum address."
As we can see, the platform does not let us continue to carry out the operation process since one of the written addresses is invalid on the network, therefore, it is an address that does not exist in the Ethereum blockchain, and we cannot continue with the procedure of our transaction.
B) In the second case I entered three types of addresses again, but if we look closely we can see that in the last address I did not put the comma (,) that goes after the address, and that I left a space in him, therefore the system will tell us the following:
Each of the addresses are:
• 0xB3a2f046b75e463A87E21Ecf0A3a3bD1E3144193,0.01
• 0xF82FA4860d09A55fE59Bd6271331CFdF9d68B22B,1
• 0xA84B750c96116cdE80e605bfdBE1BFC2284B27a6 0.01
By not adding the comma (,) to the last address, the platform will warn us that our operation cannot be processed due to the last error, however it will come out that it is an address that is not valid in Ethereum blockchain, however, it is correct, it just doesn't have the comma (,) that it should have after the address.
It shows us the following message:
"Invalid record length:
Line 3: The address given "0xA84B750c96116cdE80e605bfdBE1BFC2284B27a6 0.01" is not a valid Ethereum address."
C) In the third case I entered three types of addresses, therefore if we look closely, we can see that I entered the same address twice, that is, they are repeated, therefore the system will not let us continue to carry out our operation , and the following will appear:
Each of the addresses are:
•0xB3a2f046b75e463A87E21Ecf0A3a3bD1E3144193,0.01
•0xF82FA4860d09A55fE59Bd6271331CFdF9d68B22B,1
•0xF82FA4860d09A55fE59Bd6271331CFdF9d68B22B,1
When entering two types of identical addresses, the system will automatically notify us that there is a duplicate of addresses, therefore it will not let us continue with the operation, which gives us the advantage of not wasting our funds repeatedly at the same address.
The system shows us the following message:
"Duplicate addresses: Line 2 and 3 duplicate address"
As we can see, these are common errors that can happen to us when performing this type of operation, therefore the platform gives us the advantage of not continuing with the operation when an address is not valid (it does not exist in Ethereum blockchain), when the we write wrong (with spaces and without commas), and when there are duplicates of the same addresses, therefore it gives us the advantage of verifying what error we are committing without the need to waste our money, and then continue with the operation correctly.
However, there may be the case of placing an incorrect address (for us) but that really does exist within the Ethereum blockchain, and that it can be transferred to another user that is not the one we want. Therefore we must be very sure that this is the correct address to which we are going to send our tokens.
Conclusion
The world of technology and cryptocurrencies continues to advance more and more, that is why making multiple transactions with different amounts to various users is no longer a problem, since now thanks to the incredible development of applications, we can perform multiple operations with so single click, at low cost, and saving us the time of doing it one by one.
Multisender, Multisend and Steemyy are the example of this, each of these DApps allows us the option of carrying out this type of operations with incredible scalability, therefore we do not have to worry about the cost in commissions, the time , and of the errors that we can commit, since as we have seen previously, the system sends us a message informing us if we have placed incorrect, duplicate addresses, and without the required format (Commas and spaces).
Now performing multiple operations will be easy and simple, since it will only be with just one click, that is why for the event organizers in Steemit blockchain, the payment process will be facilitated to each of the users who have different amounts and different directions.
I thank professor @sapwood for the amazing class this week, in which I learned a lot and researched about amazing applications that allow us to perform multiple operations in a way.
quick and easy, it was an honor to do my homework.
Until next time.
Twitter:
https://twitter.com/DairhiS/status/1415657594878898181?s=19