QUESTION 1
What do multiple transactions in a single click mean? How does it save transaction fees? What are the other benefits?
Multiple Transaction in a single click
The multiple transfer in a single click involves a scenario where crypto assets are being transferred in a batch. This transaction involves a source address and multiple user addresses. The main reason for this multiple transaction in one click is to reduce the work load of sending crypto assets form one recerver to another with is really combasome.
This type of transaction is handle using the decentralized applications on the blockchain. The multiple transaction in one click has been quite helpful especially in the distribution of cryto rewards to participants maybe can be in a contest or anything.
How Multiple transaction in one click helps save transaction fees
When transferring a crypto asset from one account to another, you are normally charged a certain percentage which is assumed to be the transaction fee. Now the interesting fact about the multiple transfer is that, the same amount charged for a single transaction is equivalent to the amount to that of the multiple transfer which makes it cost efficient.
Now lets assume the cost of transferring 250trx is 0.01trx for a single transfer, if we do transfers seperately we will have 0.02trx as fee
Now if we transfer 250trx each to 40 users account using the multiple transaction in a single click, we will still have a fee of 0.01trx
Other Benefits
Other benefits using the multiple transaction in one click include
Less time for transaction.
We all know that doing the manual send of crypto to each user will greatly consume time and energy when compared to that of the multiple batch transfer.
Commercial application
The multiple transaction in one click are very useful for commercial purposes especially for the payment of salaries.
QUESTION 2
How do you connect your etherum wallet(metamask) to multisend or multisender(Dapp) and perform multiple transactions (ETH/ERC20) in one click? Using steemyy how do you perform multiple transations (STEEM or SBD) in one click. Explain the detailed steps in both the apps (one from etherum and the other from steem blockchain) screenshot needed real transactions in multisender or multisend may not be required. However, a real transaction in steem blockchain using steemyy is 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.
Connecting Etherum wallet to multisend Dapp
Step 1
We log into the multisender.app and take connect
Step 2
We choose the metamask wallet
Step 3
We then add the account
Multiple Transaction in one click
1) Multiple Transfer using Multisender
Step 1
Step 2
We choose the crypto type and amount, then write the addresses of the receivers.
2) Multiple Transaction using Steemyy
A) Transferring the same amount to tokens
Step 1
We begin by logging into the steemyy.com site and we click on tools.
Step 2
We then click on steem wallet tool which is a send steem or sbd or multiple accounts
Step 3
Then enter User name, private active key and amount of steem or sbd to sent as I will be sending 0.001steem
Step 4
Enter usernames and click send
B) Transfer Different amount of tokens
Step 1
Enter the steemmy.com site, click on tools and take transfer steem to multiple accounts
Step 2
Enter user name, private key.
Step 3
Input the usernames, amount of steem and memo as below and click send
C) Recurring Transaction
Step 1
Log into the steemyy.com site, click on tools and take transfer of steem amd sbd to multiple accounts
Step 2
I am changing recurring to 2 and interval to 20 seconds. Meaning each user will receive 0.001, 0.002, 0.003 twice every 20 minutes for first and second transaction.
Step 3
Then input user name, amount of steem and memo and take send.
QUESTION 3
What if you enter a wrong address in multisender or multisend and steemyy? 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 screenshot.
Entering wrong address in Multisend
The Multisend being one of the Dapps; which have the feature of detecting the errors in addresses, This features makes it possible to disallow transactions to go with errors in the addresses.
Entering wrong address in Steemyy
Just as above, the steemmy.con disallows transactions to proceed with errors in the addresses.
Wrong Receiver Address
Wrong Sender Address
Wrong Private Key
Conclusion
Decentralized applications have really proven to be worth using it. Just for the that it is able of detecting wrong or invalid address makes it very unique and helpful.
With the multiple transfer with just a click it is possible to send cypto assets to multiple addresses in a batch at a single time which is also less costly.