The new tool developed by TrustToken use a central wallet to avoid spend gas. Called AutoSweep, the solution allow the application to manage millions of ethereum wallets in contracts ERC-20, like TrueUSD. Furthermore, AutoSweep has a open source licence, allowing many others contract to becoming cheaper ether. Therefore, the application shall have a big impact in the ethereum network, improving all the system.
The cost reduction will start with the stablecoin TrueUSD, the main product of TrustToken. So, it will reduce the gas consume in the process to register new wallets in the contract. According to Rafael Cosman, head of engineering at TrustToken, the tool brings an opportunity to standardization. On that way, the use of an alias to the tokens makes necessary less time and resources to do transactions.
Searching for cost reduction in the ethereum network
The gas is an internal currency on ethereum and represents the cost to do modifications on ethereum blockchain. The ethereum community tries to develop solutions to reduce the consume of gas. Therefore, recently an ethereum hard fork was scheduled aiming to improve the system and reduce the gas consume. However, the announce of the postponed came just one day before the planned implementation.
Therefore, with innovations the presented by TrustToken, the ethereum network can become more accessible and attractive to new users. Something similar to what happens with cloud services companies like Amazon. In a near future the ethereum network may allow users to start a business idea in an easy and cheap way.