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

tht (69)in SteemitCryptoAcademy • 3 years ago

Professor sapwood went into detail this week on decentralized apps Multisender and Steemyy. Using Multisender, users can perform multiple transfers on the Ethereum network at once with one click. Steem blockchain has Steemyy for that too. Through Steemyy, you can perform multiple transfers at once with one click.

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

Multiple operations in one click is to send multiple outputs/transfers to multiple addresses at once.
Blockchains and therefore the cryptocurrency ecosystem continue to develop, grow and be adopted by people day by day.

Users do not just trade with cryptocurrencies. It also uses it for payments and transfers.

Making a transfer to a single address is simple. But when the number of addresses jumps, it becomes very difficult to transfer one by one. It takes a lot of time and you have to pay a lot of transfer fees.

There are no transfer fees in blockchains using proof of stake and similar versions such as Steem, Eos and Tron. But in networks such as bitcoin and ethereum, the transfer fee is quite high.

Let's say the transfer fee on the Ethereum network is $10. You pay $10 when transferring to a single address. You also pay $100 when making a transfer to 10 different addresses one by one. But if you transfer ethereum to 10 people at once, with a single click, the amount you will pay is 10$.

I would like to give an example related to our daily life. If you go to the market and do shopping. You will go to the market by your own vehicle / taxi or public transport, which is far from your market house. If you are going to buy 10 pcs items. Imagine that you go to the market and buy products using public transport once for each product. So you will have to go to the market 10 times and you have to pay 10 times the taxi fare. But if you do your grocery shopping in one go, you'll save time and pay the taxi fare for one trip.

Contests worth 100s, sometimes thousands of dollars are held daily on the Steem blockchain. It would be troublesome to send prizes to the winners one by one. At the same time, the risk of making mistakes is high because the operations are performed manually.

Again, we know that airdrops, ICOs and similar organizations are organized. In order for these to happen quickly and accurately, multiple submissions are needed with one click.

DApps such as Steemyy on the Steem blockchain and Multisender and Multisend on the Etehereum blockchain are useful in many ways. It has a lot of advantages apart from transaction fees.

Fast and scalability
It allows you to save time. Doing a large number of operations one at a time is not the same as doing the same operation at once. Doing a large number of transactions at once will save you time, and you will perform your transactions faster. Taking advantage of such an advantage also allows you to get rid of transaction fees.

It enables businesses and new users to adopt the cryptocurrency ecosystem.
It is quite tedious to do the operations one by one. Anyone new to cryptocurrencies will have a hard time accepting this. Businesses will have to employ a large number of people to make individual transactions in transfers. But due to the ability to make many transfers at once, it becomes easier for them to integrate into the cryptocurrency ecosystem.

It reduces erroneous operations.
Sometimes 100s to 1000s of transfers are required. Especially in airdrops, a lot of transfers are made to users. Since the operations are performed manually, the risk of making mistakes will increase. Performing multiple operations at once with one click minimizes the risk of making mistakes.

(2) How do you connect your Etherum Wallet(Metamask) to Multisend or Multisender(dApps) & perform multiple transactions(ETH/ERC20) in one click?

We use https://multisender.app/ to make multiple transfers with one click on the Ethereum blockchain. Let's log in to this address. It is also possible to use multisend as an alternative to multisender.

Click "connect" in the upper right.

We have two options to connect to the platform. We can connect via MetaMask or WalletConnect. I chose MetaMask.

It took a very short time for me to connect because I had logged into the platform before and my MetaMask account was open.

I clicked on the Tokan search box. I clicked on the ETH in my wallet to send bulk tokens.

We need to enter addresses in CSV format. If you don't know what the CSV format is, click Show Example CSV on the side. In CSV format, first the address is written, then a comma (,) is left, then the amount is entered without any spaces.

You can also upload a CSV file. For this you will need to click on ''upload CSV file''.
I entered 4 different addresses and 4 different amounts in the address list. I clicked 'Send'.

I can see the list and amount of addresses to send. Mulstisender would warn me if I submitted a submission in the wrong format. This would prevent a possible error.
I can't confirm because I don't have enough funds in my account.

Using Steemyy how do you perform multiple transactions(STEEM or SBD) in one click? Explain the detailed steps in both the apps(One from Etherum & the other from Steem Blockchain)?(Screenshot needed, real transactions in Multisender or Multisend may not require, however, a real transaction in Steem Blockchain using Steemyy a must for this Task). Further, using Steemyy demonstrate how to send the different amounts to different users with different memo and how to send repetitive/recurring amount at the pre-defined interval?

There are no transfer fees on the Steem blockchain. Therefore, there is no difference in cost between individual shipping and bulk shipping. However, imagine that you send hundreds of people one by one and how much this will tire you. Not only that, there will also be a risk of making mistakes.

There is a dApp called steemyy for users to easily bulk send.

Visit https://www.steemyy.com. Click where it says 'Tools'.
Then click where it says "Steem Wallet Tool - Send SBD or STEEM to Multiple Accounts".

A page like this will appear. There are parts that need to be filled in or marked here. Steem Id, Private Active Key, Amount, Coin selection (SBD/Steem), You have X times, Interval, Memo and Accounts.

We can perform mass transfer transfer in 3 different ways.

Transfer the same amount to different users
Transfer different amount to different users
Transfer a repetitive amount to a single or multiple users at a predefined interval

1) Transfer the same amount to different users

I will send the same amount of Steem to different users.

I entered my Steem username. I pasted my Private Active Key at the bottom.
I wrote 0.001 in the amount part. I made Steem for coin selection. I left the Send X Times and Interval parts as is. For now, this part does not concern us.
The Memo part is optional, but I wrote "Test" there. I wrote the 4 accounts that I will transfer to, one after the other. These; sapwood, the-gorilla, gulfuren, stream4u .
Then I clicked Send. I paid attention to the absence of @ when writing the account names.

As you can see in the screenshot, the transfer transactions are displayed with the block number.

2.) Transfer different amount to different users

I will send different amounts of Steem to different users in bulk.

I entered without my Steem username (@). Then I pasted the Private Active Key.
I left the amount part as it is (0.001). I made the choice of coins. I set it to Steem.
I left the Send X Times and Interval parts as they are. This is not working for us for now.
I left it blank because the memo part is optional.
I will send different amounts of Steem to 4 different users. I wrote the accounts without @, one under the other.

kuoba01 0.004 STEEM Test1
imagen 0.002 STEEM Test2
yousafharoonkhan 0.003 STEEM Test3
allbert 0.001 STEEM Test4

The user name should be written first, followed by the unit, and then a note. You do not have to write the same note to every user. You can write notes in different ways.
After checking all transactions, I clicked "Send".

Different amounts of bulk Steem transfers were made to different users. Block numbers are also written in the console.

3.) Transfer a repetitive amount to a single or multiple users at a predefined interval

If you're going to pay anyone on a regular basis, this dApp might be for you. In the settings section, there are seconds, minutes, hours, days and weeks. Using Steemyy for very long-term payments can be very beneficial for us.

I will send Steem to one or different users with a single click at a predetermined interval.

I entered without my Steem account name (@). Then I pasted my Private Active Key. I wrote 0.001 Steem in the amount part.
I chose Steem from Steem and SBD.
I wrote 3 in the Send X Times part. So it will be sent 3 times.
I wrote 30 in the interval part. So it will be sent again in 30 seconds.
I did not write anything in the memo section.
I wrote the accounts that I will post to the Accounts section without (@).
I wrote the account names first. Then I wrote how many Steems to send. Then I wrote the memo.

asaj 0.001 STEEM SteemyTest1
cryptokraze 0.001 STEEM SteemyTest2

0.001 Steem will be sent every 30 seconds, repeated 3 times to asaj and cryptokraze.
After doing all the checks, I clicked "Send".

As you can see in the screenshot, the transfers have taken place. The block number where the transfers took place also appears on the console.

(3) What if you enter a wrong/invalid address in Multisender or Multisend(dApps) and Steemyy(dApp)? Does the application(Steemyy in Steem Blockchain or Multisender in Etherum) allow the transaction to go through if you have entered a wrong/invalid address? Showcase with the screenshot(what does the application says when you enter a wrong address)?

DApps like Multisender, Mutlisend, and Steemyy save us from sending false transfers. It warns of any wrong send and does not allow the transfer. Let's practice this now.

Wrong address and Duplicate address in multisender .

Multisender warns of wrong addresses and duplicate addresses. Let's first observe the error that occurs in the wrong addresses.

I visited https://multisender.app/. I logged in with MetaMask wallet.

I pasted 4 addresses in the address box. First address is correct, the 2th address is not in CSV format. The 3rd address is a Tron address. The 4th address and the 1st address are duplicate addresses.
I clicked 'Send' to see all alerts.

It gave an error because I didn't write it in CSV format. I'm removing the wrong address from the address box. It is not accepted as an Ethereum address because it is not in CSV format. I should have put a (,) between the address and the amount.

It says the 2nd address is incorrect. Because the 2nd address is a Tron address. I also removed this address from the address box.

It says address 1 and 2 are duplicate addresses. By clicking on "Merge duplicates" we can combine the quantities at the same addresses.

Wrong address in Steemyy.

We will try to detect incorrect submissions. What could these be?
1.) If the addresses I ship to are wrong
2.) If the addresses I ship to are duplicate addresses

1.) If the addresses I ship to are wrong

I visited https://steemyy.com/wallet/.
I entered my username, pasted the private active key.
I wrote the Amount part as 0.001. I made the coin selection Steem. I left the Send X times and Invernal parts as they are.
I left the memo part as it is. I wrote wrong addresses in the accounts section. I wrote sapwooood and streaaaaaam4u. There are no such accounts on the Steem blockchain.
Finally, I clicked 'Send'.

Bulk submission failed because there are no such accounts on the Steem blockchain.

If one of the addresses was correct and the other was incorrect. Only the transfer to the correct address would take place.

2.) If the addresses I ship to are duplicate addresses

I visited https://steemyy.com/wallet/.
I correctly pasted my username and private active key.
I set the amount to 0.001. I made the coin selection Steem.
I left the Send X times and Internet parts as they are. I also left the memo part blank.
I wrote two duplicate accounts in the Accounts section. tht1

Finally I clicked 'Send'.

I've tried a lot of duplicate addresses. It gave the warning of "duplicate addresses" in my first post. The transfer did not occur. I missed taking a screenshot of this. Then I tried once more.
Assert Exception:_callbacks.find( txid ) == _callbacks.end(): Transaction is a duplicate warning and only sent once. It sent the account twice on my last try. (Two transfers appear on console, only one on steemitwallet)

Conclusion

Blockchains need to perform multiple transfers at the same time with a single click. Making many transfers one by one is very tiring at first. Quite costly. Nobody wants to pay too much transfer fee by transferring one by one. It is also prone to making mistakes. A user who makes 100s of transactions has a very high risk of making a mistake.

Cc:
@steemitblog
@sapwood

#cryptoacademy #sapwood-s3week3 #steemyy #multisender #turkey