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Gas-Free Transactions Enabled on TON Blockchain with Launch of New Wallet Standard
The Open Network. Photo by TON Blockchain.
Key points
- The W5 smart wallet enables gas-free transactions using USDT and NOT.
- With the new wallet, users can perform up to 255 transactions simultaneously.
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The TON blockchain has Implement gas-free transactions through the launch of the W5 smart wallet standard, developed by Tonkeeper and approved by the TON Core team. This new feature allows users to transact using USDT and Notcoin for gas fees, eliminating the need to hold toncoins.
The W5 smart wallet standard, built in collaboration between the TON Core team and the non-custodial wallet Tonkeeper, aims to simplify user onboarding and reduce barriers to entry for the TON blockchain. Users can now pay transaction fees with USDT when sending USDT and use Notcoin for gas fees when transferring Notcoin.
“W5 Smart Wallet has pushed the boundaries of what is possible on the TON blockchain. Our collaboration with TON Core provides users with unmatched security, efficiency, and ease of use,” says Oleg Andreev, CEO of Tonkeeper.
The new standard also introduces advanced parallel processing capabilities, allowing users to run up to 255 transactions simultaneously. This opens up new use cases, such as transferring multiple NFTs to different collectors at once or managing multiple decentralized subscriptions seamlessly.
“Smart Wallet will bring 2-factor authorization [2FA]password recovery[,] and gas-free fees, paid in USDT, making it easy for anyone to get started with TON,” says Anatoliy Makosov, TON’s Chief Technical Officer.
The W5 smart wallet standard is currently live on Tonkeeper and is expected to be rolled out to other self-custodial wallets such as TON Space and MyTonWallet in the near future. This development comes as TON reports 5.8 million active on-chain wallets per month, with a surge in daily active addresses following the popularity of Telegram mini-games that use the TON blockchain for transactions.
The introduction of gas-free transactions and the W5 smart wallet standard is a significant step towards simplifying blockchain interactions for users. By eliminating the requirement to hold native tokens for gas fees, TON aims to lower the barrier to entry for new users and potentially tap into Telegram’s large user base of 950 million, furthering its goal of mainstream blockchain adoption.
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