The TON Blockchain has introduced gasless transactions with the launch of the W5 Smart Wallet standard, allowing users to execute transactions using USDT and NOT without needing to hold Toncoin.
Points
- TON Blockchain launches gasless transactions with the W5 Smart Wallet.
- Users can use USDT and NOT for transaction fees.
- The wallet allows up to 255 simultaneous transactions.
- The launch aims to simplify user onboarding and reduce barriers to entry.
The TON Blockchain has made a significant leap forward by introducing gasless transactions through the launch of the W5 Smart Wallet standard. This innovative feature allows users to execute transactions using USDT and NOT for gas fees, eliminating the need to hold the native Toncoin.
W5 Smart Wallet Standard
The W5 Smart Wallet, developed in collaboration between the TON Core team and non-custodial wallet Tonkeeper, is designed to streamline user onboarding and reduce barriers to entry for the TON blockchain. With this new wallet, users can pay transaction fees with USDT when sending USDT, and use NOT for gas fees when transferring NOT.
Advanced Parallel Processing
A standout feature of the W5 Smart Wallet is its advanced parallel processing capabilities, enabling users to execute up to 255 transactions simultaneously. This opens up new possibilities for managing multiple decentralized subscriptions seamlessly or transferring multiple NFTs to different collectors at once.
Oleg Andreev, CEO of Tonkeeper, highlighted the wallet’s capabilities:
“The W5 Smart Wallet has pushed the boundaries of what’s possible on the TON blockchain. Our collaboration with TON Core ensures that users experience unparalleled security, efficiency, and ease of use.”
Enhanced Security Features
The new standard also brings enhanced security features, including two-factor authentication （2FA） and password recovery. These features, combined with the gasless fees paid in USDT, make getting started on the TON blockchain easier for everyone.
Growing Adoption and Usage
The introduction of gasless transactions comes as TON reports 5.8 million monthly active on-chain wallets. Daily active addresses have surged following the popularity of Telegram mini-games using the TON blockchain for transactions.
This development is a significant step toward simplifying blockchain interactions for users. By removing the requirement to hold native tokens for gas fees, TON aims to lower the entry barrier for new users and potentially tap into Telegram’s vast user base of 950 million, furthering its goal of mainstream blockchain adoption.
Explanation
- Gasless Transactions: Allow users to perform blockchain transactions without needing to hold the native token for gas fees, simplifying the process and lowering entry barriers.
- Parallel Processing: Enables multiple transactions to be executed simultaneously, enhancing efficiency and user experience.
- Security Features: Advanced security measures like 2FA and password recovery ensure user safety and convenience.