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

Hello professor @sapwood, I'm happy to be finally able to partake in your homework. Learnt a lot from your lecture. Here's my homework post.

Blockchain networks allow transactions between users. Depending on the type of network, fees are often charged for every single transaction. Blockchains like Bitcoin and Ethereum charge a lot of fees per transaction, whereas blockchain networks like Steem and Tron allow charge-free transactions.

Now, issues arise when one wants to send tokens to multiple accounts. On blockchain networks like Steem and Tron, making transactions for 100 users can be very exhausting. On blockchains like Bitcoin and Ethereum, not only is it exhaustive but also very costly. This is because every transaction is done one at a time, and fees are charged every time.

To solve this problem, blockchain developers have provided platforms that allow multiple transactions in a single click. Multiple transactions in a single click mean performing more than one transfer at a go with a single click. This allows users to easily transfer tokens to multiple accounts without repeating the transaction process for each and everyone.

This feature provided by developers does not only save time. It saves transaction fees also. Instead of being charged the accrued transaction fees per transfer, the multiple transactions in a single click is charged as a single transaction since the transfers are done at a go with one transaction.

Thus, with multiple transactions, instead of being charged for every single transfer within the multiple transaction, you are charged for just the transaction. The multiple transactions with a single click are taken as single transactions with many transfers. The fees charged are more or less the same as a single transfer transaction and far cheaper than multiple transfers done individually as single transactions. This saves costs that would have been incurred with every transfer done as a single transaction.

Aside from it being cost-effective(economical) and less time consuming(fast), there are other benefits of this feature. This feature allows users to input different amounts to be sent to the individuals involved in the transaction and send at a go.

It also cross-checks addresses inputted and fails the transaction if an address inputted is wrong or not recognized by the network. This makes it very reliable and prevents your funds from being lost due to mistakes.

Some multiple transfer dApps like Steemyy allow users to send recurring amounts to single or multiple accounts at pre-defined time intervals. This makes it very efficient as one wouldn't have to always make inputs for a transaction.

Multisender is a very popular dApp that allows users to perform multiple transactions with a single click on Ethereum Blockchain. It allows users to easily manage and organise events such as ICOs and Airdrops which involve transfers to multiple accounts.

Firstly, visit https://multisender.app/.

At times, you'd be asked to connect your wallet when you visit the page. Click connect in the dialogue box to begin connecting your wallet. If the dialogue box doesn't appear, click on Connect at the far right of the options above.

Next, click on Metamask in the pop-up window.

Click on Next after selecting the account you would like to use.

Click on Connect to authorize the connection.

To perform multiple transactions with a single click, first, click the token address search and select ETH. You can also search and select ETH or other tokens from the search.

In the List of Addresses in CSV section, enter the address of the accounts you want to send amounts to. Separate the address from the amount you want to send with a comma without leaving any space in the input.

Click on Send.

Click on Approve to execute the transaction. In my case, I didn't have sufficient funds, and so Approve wasn't available.

Steemyy is a Steem Blockchain tool developed by @justyy. This is one of the most useful tools on Steem Blockchain. It provides users with important information relating to accounts usage and allows users to perform multiple transactions at a go.

To use Steemyy to perform multiple transactions with a single click first, go to https://steemyy.com/. Click on Tools from the options at the top of the page.

Next, Select "Steem Wallet Tool - Send SBD or STEEM to Multiple Accounts" from the Steem Essentials list.

Now, there are three different types of multiple transactions that can be performed using Steemyy. Below are the ways to perform the three different types of multiple transactions with Steemyy.

1. Transferring the same amounts to different users.
2. Transfering different amounts to different users.
3. Transfering recurring/repetitive amounts to a single user(or multiple users) at a pre-defined interval.

Also, there are various parameters required to perform any of the multiple transactions. These include Steem ID, Private Active Key, Amount, Unit(SBD/STEEM), Send X times, Interval, Memo, Accounts.

Below are the steps involved for the different types of multiple transactions.
The first two steps are constant for the different types of multiple transactions. They are:

• Enter your Steem username in the Your Steem ID section without the "@" sign.
• Input your private active key in the Private Active Key section.

Steps involved:

• Enter your Steem ID and private active key.
• Enter the amount you wish to send in the Amount section.
• Select the token you want to transfer.
• Leave the Send X Times and Interval sections as they are.
• Input the memo in the MEMO section.
• Enter the usernames of the receiving accounts in the Accounts section. Do not use "@" at the beginning of the username. Enter the name without "@". Also, each username takes a line.
• Click Send.

• Click Ok to proceed.

• Scroll down to view the output log.

• Enter your Steem username and active private key.
• Leave the Amount section empty.
• Select the token you want to send.
• Leave the Send X Times and Interval sections as they are.
• Leave the MEMO blank if you want to attach different memos to the receiving accounts.
• The format for entering data into the accounts section for sending different amounts is: "username+space+amount+space+the token type(STEEM/SBD)+space+memo" per line for the various accounts.
  Input the data for the transfer with the format above.
• Click Send.

• Click Ok to proceed.

• Scroll down to view the output log.

• Enter your Steem username and private active key.
• Leave the Amount section empty.
• Select the token you want to send.
• Input or select the number of times you want the transfer to repeat in the Send X times section.
• Input the interval(time gap) between the repetitions. The minimum is 3 seconds. Click on the tab next to the Interval(Min 3 sec) section to change the unit of time. It is in seconds by default. It can be changed to minute, hour, day and week.
• Leave the MEMO section empty since you might input different memos to the recipients.
• Enter the username, amount, token type and memo in the same format indicated earlier. "Username+space+amount+space+the token type(STEEM/SBD)+space+memo" per line for the various accounts.
• Click Send.

• Click Ok to proceed.

• Scroll down to view the output log.

To see what happens when you enter a wrong/invalid address in Multisender, first, connect your Metamask wallet to Multisender as shown earlier. Enter the Token Adress.

Next, enter wrong addresses into the List of Addresses in CSV section.

• You can make an address invalid by adding space or a symbol. Omitting the comma before the amount makes the address invalid. (This usually happens due to some typo error)

The image above shows what is given by Multisender when the address is invalid/wrong. Note that should incase the address entered is an address recognised by the network and not the right address you intended to send to, you would not be informed the address is invalid/wrong. Also, entering a valid address multiple times would ask you to merge them. Thus, you'd have one address with the amounts added as one.

To see what happens when you enter a wrong/invalid address on Steemyy, first provide the information needed for the parameters.

At the Accounts section, input wrong/non-existent usernames and click send.
Below is the output using transferring the same amount to multiple users.

As you can see, Steemyy says "unknown key:unknown key:" and the transfer doesn't take place. If any of the account usernames entered are existing accounts on Steemit, the transaction would take place for just the valid accounts leaving the invalid/wrong ones. Below is an example.

I entered a non-existent username. The output can be seen below.

As you can see the transaction for the non-existent username wasn't successful while the one for the valid or existent was.

I'm happy to have taken part in this homework task. Was quite a lot with the editing of screenshots. Would like to say big thanks to @sapwood for teaching us about these features available on Steemyy and Multisender. These tools are very useful and reliable; providing solutions to multiple transfers with ease with a single click and lesser transaction fees.