Maximizing Efficiency: Optimizing Data Retrieval from Smart Contracts with Multicall

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United States, 10th Oct 2023, King NewsWireSmart contracts are the backbone of decentralized applications (dApps) and blockchain ecosystems, enabling secure and transparent transactions. However, when it comes to fetching bulk data from Ethereum Virtual Machine (EVM)-based smart contracts, the process can be notoriously slow, leading to a subpar user experience. In this article, we’ll explore how to overcome this challenge by utilizing Multicall, a powerful technique for optimizing data retrieval from smart contracts. Additionally, we’ll delve into how BotFi leverages Multicall to efficiently read user balances for large addresses without compromising speed.

The Challenge: Slow Data Retrieval

Reading data from smart contracts is an essential operation in blockchain-based applications. However, as blockchain networks grow, the volume of data can become substantial. Fetching this data individually, especially for large datasets or addresses with numerous transactions, can result in sluggish performance and a frustrating user experience.

The Multicall Solution

Multicall is a smart contract aggregation technique that significantly enhances data retrieval efficiency. It allows multiple smart contract calls to be bundled into a single batch, reducing the overhead associated with separate calls. This optimization minimizes the number of transactions required to fetch data, ultimately improving speed and responsiveness.

Implementing Multicall: A Code Example

Here’s a simplified code example in Solidity to demonstrate how Multicall can be implemented:

pragma solidity ^0.8.0;

// Import the Multicall contract

import “./Multicall.sol”;

contract MyContract {

  // Initialize a Multicall instance

  Multicall public multicall = Multicall(MULTICALL_ADDRESS);

  function getBatchData(address[] calldata addresses) external view returns (uint256[] memory) {

      uint256[] memory results = new uint256[](addresses.length);

      // Create a Multicall instance

      Multicall.Call[] memory calls = new Multicall.Call[](addresses.length);

      for (uint256 i = 0; i < addresses.length; i++) {

          calls[i] = Multicall.Call({

              target: addresses[i],

              gas: GAS_LIMIT, // Set a reasonable gas limit

              callData: abi.encodeWithSignature(“balanceOf(address)”, addresses[i]) // Example call

          });

      }

      (bool success, bytes[] memory data) = multicall.aggregate(calls);

      require(success, “Multicall failed”);

      for (uint256 i = 0; i < data.length; i++) {

          results[i] = abi.decode(data[i], (uint256));

      }

      return results;

  }

}

In this example, we import the Multicall contract, initialize a Multicall instance, and then use it to aggregate multiple calls into a single transaction, improving efficiency and reducing the gas cost.

BotFi’s Application of Multicall

BotFi, an innovative blockchain platform, has harnessed the power of Multicall to optimize the reading of user balances for large addresses. By utilizing Multicall, BotFi minimizes the number of transactions required to access this data, significantly enhancing speed without compromising on user experience. This approach ensures that users can efficiently access their account information, even when dealing with extensive transaction histories or complex data structures.

In conclusion, Multicall is a valuable tool for optimizing data retrieval from smart contracts on EVM-based blockchains. By aggregating multiple calls into a single transaction, Multicall reduces latency and gas costs, enhancing the overall user experience. BotFi’s successful implementation of Multicall showcases its potential to address the challenges of reading large data from smart contracts, offering a faster and more efficient solution for blockchain applications.

BotFi stands as the pioneer in self-custody DeFi trading bots for Telegram and Messenger, offering a plethora of advanced features. These include instant swaps, limit orders, mirror trading, token scanner, sniping bot, and a host of other capabilities.

Website: https://botfi.app
Telegram: https://t.me/botfi_app
Twitter: https://twitter.com/botfi_app
GitHub: https://github.com/botfi-app

Media Contact

Organization: BotFi

Contact Person: Rome

Website: https://botfi.app/

Email: press@botfi.app

Country: United States

Release Id: 1010236952

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