2.4 - Batch Withdraw

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Original Content by Tigger on September 5, 2018

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Create a Batch Withdraw With Your Arizen Wallet

A useful feature is "Batch Withdraw", see Figure 2.16. This feature has two main use cases which focus on:

Secure/Super node operators
Consolidating your ZEN to one address

The "Batch Withdraw" method has been optimized to fit as many source addresses (UTXOs) as possible into one transaction.

It is recommended to use the default network fee (0.0001 ZEN) to guarantee timely confirmation of your transactions, especially larger ones from a batch withdrawal.

Secure/Super Node Operators

When you are a Secure node operator, you must have 42 ZEN in your staking T address (Super Node, 500 ZEN). When your staking addresses receive the rewards, you may want to send this reward to another address and keep your 42/500 ZEN on their respective staking address. You can select your staking addresses, destination address (where the collected reward will be sent) and the amount to keep (in this case 42 ZEN/500 ZEN).

Consolidating Your ZEN to One Address

In this use case you can consolidate your ZEN from multiple addresses to one destination address. The process is the same as in the previous example but you must set amount to keep to 0 ZEN.

The size of transaction is limited by the API URL (the size of the hashed string must be smaller than 100 Kb). The Arizen wallet tries to maximize the number of input / output in one transaction regarding the mentioned limit, save the user additional fees.

Figure 2.16: "Batch Withdraw" can be found on the tool bar.

Figure 2.17: You can set the Amount to keep (threshold) which means the amount of ZEN which will stay on the selected addresses and the rest will be sent to the destination address "To". You can choose options "Select all" and "Clear all".

Figure 2.18: You can choose from the list of your addresses.

Figure 2.19: You are asked for confirmation before sending the transaction.

Figure 2.20: Once sent, a clickable Transaction ID appears to be viewable from a web browser.

Figure 2.21: User chose two source addresses with balances 0.71045992 ZEN and 0.25000000 ZEN. The selected threshold (Amount to keep) was 0.2 ZEN. The result of the transaction were the thresholds and the remaining ZEN was transferred to the destination address "To".