Categories: Ethereum

Wibson Reduces Up to 99% the Ethereum Gas Cost Solving Scaling Issues

Click here to view original web page at www.coinspeaker.com

The Wibson team released a Batch Payment technology that benefits the blockchain community as it reduces transaction and operational costs that can improve the economic viability of hundreds of Ethereum-based projects.

One of the greatest challenges for the viability and scaling of blockchain networks is managing the costs of “gas”, the payments that receive third parties for the verification of the smart contracts transactions.

To solve this problem, Wibson – a blockchain-based platform that provides individuals a way to sell their data – released its Batch Payment code, a new Ethereum blockchain protocol that reduces the transaction costs up to 99% and allows not only Wibson, but other hundreds of Ethereum-based projects to exponentially scale.

The batch payment code bundles a large number of ERC-20 token operations into a single batch of transactions allowing to reduce the gas cost by 99%. Wibson started using this technology two weeks ago and they have already seen good results.

As the code can be used by any Ethereum-based blockchain project under the GNU Lesser General Public License v3.0, Wibson is already working with other companies who are interested in the technology, helping them implementing their protocol.

On the user side, Wibson renewed the mobile app, which has been enhanced with an improved design and more convenient token redemption capabilities. In next updates, Wibson plans that Data Sellers -users who sell data to companies through the platform- are able to cash-out Wibson Tokens (WIB) to an external wallet without incurring standard Ether gas fees.

Additionally, the company will work on significantly scaling the data marketplace and launching the app in more geographies.

For more information or to download the Wibson data marketplace app on Android devices, visit www.wibson.org. The batch payments code is publicly available through the Wibson Github. If you are interested in implementing the technology on your project, you can contact Wibson at info@wibson.org.

About Wibson

Established in October of 2017, Wibson is a decentralized blockchain based data marketplace that provides individuals a way to securely sell their data. The information is validated for accuracy, all without sacrificing personal privacy.

The company’s mission is to create a trusted universal data platform that maximizes value for both individuals and companies and has received funding from Telefónica’s investment arm, Wayra, among other industry-leading investors such as DGG Capital or Kenetic Capital.

The Wibson token went live in October 2018 and has already supported more than 100,000 data transactions. To date, more than seven million WIBs have been used in such transactions by the Wibson community.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: decentral decentralized eth ether ethereum blockchain platform wallet

Recent Posts

  • Bitcoin Business

Robinhood App Encroaches on Banking Turf with High-Yield Money Tool

Popular stock market and crypto trading app Robinhood is going after legacy banks with the relaunch of a cash management… Read More

17 mins ago
  • Bitcoin Business

The blockchain/crypto week in quotes

“The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force.” US… Read More

17 mins ago
  • Bitcoin Business

Art and watch collectors: Here’s how blockchain can stamp out fakes

According to an OECD report on counterfeiting, the world trade in fake goods is worth upwards of S$624 billion a… Read More

17 mins ago
  • Bitcoin Business

Litecoin and the Miami Dolphins Join Hands Over Charity

Who would have known American football and cryptocurrency would go so well together? In a press release, The Miami Dolphins… Read More

6 hours ago
  • Bitcoin Business

Crypto News: Grayscale’s Record Inflows, Shell’s New Blockchain Investment

Increasing amounts of capital are flowing into the crypto and blockchain start-up markets. By following the money, investors can uncover… Read More

6 hours ago
  • Bitcoin Business

David Koepsell (YICB 07), Co-founder of Encrypgen, LLC and Blockchain in Healthcare Global

David Koepsell is the co-founder and chief executive officer of Encrypgen, a software company creating next-generation blockchain solutions for genomic… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More