Announcing zkBob multitransfer! This latest feature combines the convenience of transaction batching with advanced zk privacy, further setting zkBob apart from other privacy solutions. Now Bob can send stable funds to the whole crew…Alice, Carl, Dave, Erin, Frank….with a single, private transaction.
Standard batch-transfer apps let blockchain users send tokens to many different addresses using batched transactions. Popular apps like https://multisender.app/, https://disperse.app/, https://bulktokensend.com, and others provide batch sending functionality, saving time and money in exchange for a fee. They are used for airdrops and bulk distributions, and have processed hundreds of millions of dollars worth of transactions. What none of them offer is privacy.
Like most transactions on the blockchain, batch transfers are typically fully traceable from sender to recipient. In many cases this is not an issue, but in some cases it can be problematic.
For example, let’s look at salary distributions. It is much more convenient to send monthly salaries to a group of employees through a batched-transaction app. All user addresses and amounts can be added to a csv, pasted into the app, then sent through the interface with the click of a button. This saves a lot of time and gas fees, and prevents possible entry errors compared to entering and processing each transaction one by one. However, with a batching app all of these transactions originate from the same source, tying each one together. Employees (and anyone else) can easily see their colleagues’ addresses and the amounts they receive.
zkBob multitransfer obfuscates this connection, providing safe and anonymous batch transfers through a zk proving mechanism. The sender can easily switch on the multitransfer functionality, add zkaddresses and amounts either manually or from a csv, and process all of these transfers with a single $0.10 fee. That’s potentially hundreds of transfers sent for a stable $0.10 fee thanks to the BOB stablecoin. Transfers, like fees, are stable, making zkBob the perfect solution for consistent value transfer. In fact, several companies are already using zkBob and multitransfer for salary distribution. We expect to see many more in the near future!
No other zkprivacy solution currently offers batch transfers. Sending hundreds of transactions using Aztec or Railgun will set you back a good amount in tx fees not to mention wasted hours and the potential for more data entry related errors.
zkBob is a safe, simple and compliant way to send private transactions, including multitransfers, using the BOB stablecoin. Try it today at https://app.zkbob.com and learn more about zkBob and BOB at https://docs.zkbob.com.
Multitransfers were added to zkBob as part of a larger upgrade in release 0.3.0. This includes updates to the progress bar for parameters loading, library version upgrade, and various bug fixes. Currently the UI is closed during beta to prevent simple clones. It will be open sourced post-beta.