Gasless Transactions with USDT Amid 6% Price Dip

• The W5 Smart Wallet enables gasless transactions with USDT on the TON blockchain, eliminating the need for Toncoin for transaction fees.
• The launch of the W5 Smart Wallet aims to enhance accessibility and adoption of blockchain technology among the general public, despite the recent 6% dip in Toncoin price.

As previously discussed in a recent CNF update, Bitget Wallet, the preferred wallet on the TON ecosystem, continues to provide comprehensive support for its users by allowing for the effortless creation of TON wallets. This enables users to manage their on-chain assets securely and conveniently.

The TON blockchain now supports gasless transactions with the W5 smart wallet standard, allowing users to transact in USDT and Notcoin without needing Toncoin for transaction fees, which is especially relevant given the recent 6% price dip.

According to a recent tweet by the official account of TON, the TON Core team, in collaboration with Tonkeeper, has launched the W5 Smart Wallet. This innovative wallet enables gasless transactions on the TON blockchain and allows up to 255 transactions to be processed simultaneously.

🔈 The TON Core team, in collaboration with @tonkeeper, has launched the W5 Smart Wallet, enabling gasless transactions on #TON and up to 255 transactions simultaneously!

But what does that mean for Telegram’s 950M users? 👀

Let’s dive in 🧵⬇️ pic.twitter.com/FXLOCeRBi0

— TON 💎 (@ton_blockchain) July 25, 2024

Unlike most current MPC wallets we already explained in previous coverage, which focus on EVM blockchains, EVM heterogeneous chains like Solana and TON need user-friendly wallet solutions to support the mass adoption of cryptocurrencies. The W5 Smart Wallet aims to provide high security, speed, and convenience, making blockchain technology more accessible to the general public.

Additionally, the new W5 wallet is currently available on Tonkeeper and will soon be on other self-custodial wallets like TON Space and MyTonWallet. This expansion is expected to increase the user base and transaction volume. Oleg Andreev, CEO of Tonkeeper, believes this development could significantly benefit Telegram’s 950 million users by simplifying their interactions with blockchain technology.

At the time of writing, according to today’s CoinMarketCap, Toncoin (TON) is priced at $6.63 with a decrease of 0.85% and 8.85% in the past week.