- The TON blockchain now supports gasless transactions as a result of the W5 smart wallet standard’s release.
- Users will be able to conduct transactions utilizing USDT and Notcoin instead of needing to have Toncoin in order to facilitate payments.
The TON Core team, in collaboration with the non-custodial sector, released the W5 smart wallet standard, which makes gasless transactions on the TON blockchain feasible.
Tonkeeper created the W5 smart wallet first, and the TON Core team later adopted it as a standard. It facilitates users to send USDT -0.026% as transaction costs while transferring USDT, and Notcoin as gas fees when sending Notcoin.
According to Tonkeeper CEO Oleg Andreev, the W5 Smart Wallet has expanded the bounds of what is feasible on the TON blockchain. Our partnership with TON Core guarantees users receive unmatched security, effectiveness, and usability. This ease of use is essential to popularizing blockchain technology and making cryptocurrency accessible to everybody.
The TON Foundation stated that as a result, users are no longer required to have toncoin in order to enable payments on TON, lowering the hurdles to getting started on the blockchain.
The TON Foundation claims that the new standard also allows for advanced parallel processing, which creates new use cases by allowing users to do up to 255 transactions concurrently. It stated that users could effortlessly manage several decentralized subscriptions, transfer 255 NFTs to various collectors at once, and even set up powerful security measures like two-factor authentication, wallet freeze, and key recovery.
The new standard may be found on Tonkeeper right now, and it will soon be applied to additional TON-based wallets in addition to two self-custodial wallets called TON Space and MyTonWallet.
Development of the TON blockchain in 2024 amid the craze for Telegram’s mini-apps
5.8 million active on-chain wallets each month, according to TON’s claims. With its gasless transaction functionality, which uses TON blockchain to enable transactions in its mini-app games, Telegram hopes to streamline the onboarding process for new members and reach a larger audience beyond its current 950 million users. The TON Foundation stated that this is Web2 UX with all the advantages of Web3.
The seven-day moving average of TON daily active addresses increased dramatically in 2024 as a result of the release of well-liked Telegram mini-games including Notcoin, Hamster Kombat, Yescoin, and Catizen. As of July 24, the average reached over 350,000.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
