July was a key month for Wibson, as we were able to solve scalability problems and proved that we can lower gas costs by 99%.
Reducing the gas cost
We are very proud of the release of our batch payments code (batpay), which allowed us to significantly decrease the amount of money spent on gas. As a consequence, we are already starting to see the positive changes this brings to our project and expect an exponential growth in the following months.
How does this new technical implementation work? The batch payment code bundles a large number of ERC-20 token operations into a single batch of transactions, reducing the gas cost by 99%. This is huge as now the Wibson data marketplace can grow and data buyers have a more affordable way to buy data.
This graphic shows the gas expense for one of our data buyers in April (with Wibson V1) and July (with Wibson V2)
In April, the buyer spent 16 ETH ($3,680 USD) on gas, whether in July he spent only 0,03 ETH ($6,9 USD). This represents a decrease by 99,8%.
Our team participated in two blockchain related events in Argentina: Crypto Mondays & Ethereum Buenos Aires. We received great feedback about Wibson V2 from the tech community.
The BatPay contract is open-source and not coupled to Wibson. Anyone having a similar problem with any other ERC-20 token can deploy the contract and start using it right away. We invite you to check it out on GitHub and contact us if you have a project and need help on deploying the contract!
Two months ago, we partnered with Cryptocup, a prediction game based in Blockchain. This partnership included the chance for Wibson users to buy predictions tickets for the Copa America Tournament with Wibson tokens.
This was huge as it was the first use case for WIB. Now we are looking to sign similar partnerships so Data Owners are able to spend their WIB on different rewards. If you are interested in partnering with us, you can contact us at firstname.lastname@example.org.