TON introduces gasless fees with a new smart wallet
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TON introduces gasless fees with a new smart wallet

Nxtgen Virtue , , , , ,

The W5 smart wallet will enable gasless transactions on the TONNE blockchain utilizing USDT and Notcoin, improving the user experience and accessibility. In partnership with Tonkeeper, the TONNE Core team has launched the W5 smart wallet standard, which promises gasless transactions on The Open Network (TONNE) blockchain.

Modifying the layer-1 blockchain’s pre-existing wallet smart contract will allow users to pay gas fees using Tether $1.00 for USDT transfers and Notcoin for Notcoin (NOT) transfers. According to a press statement published with Cointelegraph, Tonkeeper now supports the W5 smart wallet, which will soon be available on TONNE Space and MyTonWallet.

Wallet implications

Tonkeeper developed the W5 smart wallet, which was approved by the TONNE Core team to improve transaction management on the TONNE blockchain. Adding gasless functionalities for USDT and Notcoin payments seeks to eliminate the necessity for users to own Toncoin to facilitate payments and lower the obstacles that newcomers experience.

The smart wallet will allow users to execute up to 255 transactions at the same time, to provide a more efficient and seamless user experience.

TON becomes the 10th-largest blockchain in TVL

Despite its recent arrival into the decentralized application (DApp) industry, TONNE has surpassed Optimism to become the tenth-largest blockchain by total value locked (TVL). On July 10, The Open Network Foundation collaborated with 1inch and Sign to create the Web3 startup accelerator Triangle, raising over $760 million in TVL. The alliance intends to focus on building play-to-earn (P2E) mini-games, similar to the successful Telegram-based game Notcoin.

TON Foundation push for security

On July 18, the TONNE Foundation launched a Bitcoin bridge worth $67,001 to cement the platform’s ambition of becoming a “blockchain of blockchains.”

The TONNE Foundation’s marketing director, Jack Booth, indicated that the organization’s new BTC bridge will allow customers to move their BTC to TONNE. Booth discussed the new bridge’s security features, emphasizing that the BTC bridge would be “highly resistant” to private key breaches.

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