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Gluwa Integrates ITX for 15% Cheaper Transactions

Gluwa Integrates ITX for 15% Cheaper Transactions
  • Gluwa and ITX will integrate to optimize gas management.
  • The collab will result in them reducing ETH transaction costs by 10-15%.
  • ITX will aid Gluwa in decentralizing financial infrastructure aiming to ensure easier access to global investment opportunities

Blockchain-powered Gluwa, a platform for borderless financial transactions, is now integrating with Infura Transactions (ITX). The high throughput transaction relayer service optimizing the Ethereum transaction settlement layer will help Gluwa with retry and relay services as well as optimize gas management.

Settlement optimization within the collab will be achieved by minimizing stalled or dropped transactions instances. This, alongside reduced gas costs through an incremental bidding process, will potentially reduce ETH transaction costs by 10-15%. The integration also hopes to achieve minimal dropped transactions and retry instances with higher gas fees after a transaction remains pending in a prolonged interval.

ITX works by verifying the existence of sufficient gas tank balance. It then locks a portion and relays the transaction to the Ethereum network. This results in the gas tank balance getting reduced for the transaction costs and fees after mining.

Gluwa Founder and CEO Tae Oh stated about the integration:

At Gluwa, it is our belief to constantly strive to improve the experience for our users. By integrating ITX, our users no longer need to worry about dropped transactions or retry functionality that causes higher gas fees when a transaction is pending for a long time

The ConsenSys-designed ITX is committed to simplifying Ethereum transactions through managing edge cases for transaction delivery. It also secures the mining of transactions by reducing the burden on the developers. These qualities will help it aid Gluwa in decentralizing financial infrastructure aiming to ensure easier access to global investment opportunities. 

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Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.