Gluwa Joins with Consensys’ ITX for 15% Cheaper Transactions
Technological advancement, be it a finance sector or any other, has impacted various platforms. While some platforms constantly try to upgrade their current functionalities, some innovative contributors strive to take their activities to an altogether new level. Such companies are known to leave a global footprint for other players in the industry, harnessing the technology to the optimum.
One such notable platform that has emerged exemplary in this context is Gluwa. Empowered by blockchain, the esteemed San-Francisco-based player is known for creating waves in the crypto world through its borderless transactions offerings. Gluwa has, in a way, re-invented the entire decentralized finance ecospace creating more investment avenues for its users globally and those regions with limited or non-existent banking services. Backed by a dedicated and robust team of experts spread across the US, Canada, South Korea, and elsewhere, Gluwa has constantly been looking for ways to accelerate its businesses.
Gluwa has now partnered with Infura Transactions (ITX), and through this seamless integration, Gluwa aims to rationalize and enhance the entire experience of Ethereum based transaction settlement. This integration has been conceptualized by ConsenSys with a special focus on accentuating relay and retry services of Gluwa.
The primary objective of integration will achieve the desired goal of augmenting the settlements by reducing the dropped or blocked transaction instances while simultaneously minimizing the gas fees. This shall be made possible by an incrementing bidding process. There will be a considerable reduction in the fee, say to the tune of up to 15% for ETH transactions through this integration initiative. A unique advantage of this integration with ITX is that even delayed or pending transactions shall call for a substantial reduction in gas fees.
The process of ITX is solely based on highly secure and authentic methodology wherein, post verification of enough gas tank balance, a portion is locked, and ITX then relays the transaction to the ETH network. Gluwa Founder and CEO Tae Oh shared his exuberance that their mission is solely based on the trust of our users, who are no less than 2 million in number as of date. Through the pioneering initiative of integration of ITX, they have endeavored to create a phenomenal user experience so that our users do not get penalized with high gas fees on dropped transactions or due to retry services. Ultimately their goal has been to ease the financial obstacles of our clientele.
ITX has entirely focused on uncomplicating the entire transaction ecospace by managing edge cases for delivery and ensuring complete security of mining transactions, which has tremendously eased the pressure on developers navigating the cumbersome gas management processes. The flawless integration is also set to allow Gluwa to promulgate the use of stablecoins supporting minimal transfer fees. One such classic example is Creditcoin that is a crucial role player in connecting loan portfolios to public chains and using connected apps and also Credal that is yet another Infura-Ethereum functionality for the Creditcoin blockchain.