MyCrypto, an open-source, client-side tool for interacting with the blockchain has announced functionality that enables users to now schedule Ethereum transactions on the mainnet. The feature comes via the Ethereum Alarm Clock powered by ChronoLogic.
Scheduling and execution are secured by using smart contracts. The code of those smart contracts is secured by automated test suites — they confirm the correctness of mathematical calculations as well as assure that the scheduled transaction lifecycle works properly. Additionally, the code for the Ethereum Alarm Clock has passed an audit.
How to use it
Go to mycrypto.com, click “Send Ether & Tokens”, toggle the “Send Later” switch. Then you can provide all the details required for scheduling a transaction.
Can I cancel and get my funds back?
- Go to ChronoLogic Depp and find your transaction. You can use the search box for that.
- Click your transaction and open the “details” view.
- Select transaction owner Ethereum account in MetaMask.
Now you should be able to click the “Cancel” button and get your funds back.
Click the button, you will see MetaMask send a transaction confirmation pop-up. It will send “cancel” transaction and you’ll retrieve your funds as soon as the transaction is processed by the network.
Earn ETH by executing transactions
As a part of decentralization, anyone with some Ether can act as a transaction executor agent — also known as a TimeNode. TimeNodes get rewarded an ETH bounty for executing transactions. It’s up for grabs. You just need to be first to claim and execute the transaction while running the TimeNode. It’s an automated process, which doesn’t require a lot of configuration.
To start acting as a TimeNode there are two basic steps:
- Open a browser tab in Chrome on your desktop or mobile phone and earn Ethereum — go to the TimeNode tab in ChronoLogic’s Dapp
- Import your Ethereum wallet with some funds to get you started.
A few reasons why you would want to schedule a transaction
- Maybe you want to get into that latest hot ICO but you’ll be away from your computer
- Maybe you want an ENS domain name and don’t want to miss the reveal period
- Maybe you need to pay at a certain time for a subscription
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