TrustToken Develops Cheaper Means of Managing Client Ethereum Addresses
TrustToken, the developer TrueUSD, has developed a cheaper method for crypto exchanges to manage many addresses associated with TrueUSD and other ERC20 tokens.
TrustToken has developed the first publicly available means of easily handling millions of addresses within a single wallet. This will reduce the amount of Gas required for the maintenance of wallets accepting TUSD.
The update to the TrueUSD smart contract does not only have to apply to TUSD. The token’s code is open-source, so other tokens and outfits can replicate the method.
TrustToken Head of Engineering Rafael Cosman in a press release Monday said this about the recent technology:
“While exchanges are currently able to set up individual addresses for users, there is no standardized process for the backend accounting for how these accounts are settled, and each transaction requires gas payments. AutoSweep is the first implementation of an ‘alias’ feature for an Ethereum-based token and allows exchanges to significantly improve both the accounting structure and save on time and gas cost by automatically sweeping user accounts to the central wallet.”