TON Blockchain Introduces W5 Smart Wallet, Enabling Gasless Transactions

KEYTAKEAWAYS

TABLE OF CONTENTS

• KEY TAKEAWAYS
• DISCLAIMER
• WRITER’S INTRO

CONTENT

In collaboration with Tonkeeper, TON Core team launches innovative wallet standard allowing users to pay fees in USDT and Notcoin, potentially boosting mainstream adoption by simplifying blockchain interactions.

The TON Core team, in partnership with non-custodial wallet Tonkeeper, has unveiled the W5 smart wallet standard, a groundbreaking development for the TON blockchain ecosystem. This innovative wallet enables gasless transactions, allowing users to pay fees using USDT and Notcoin instead of TON’s native cryptocurrency.

🔥 We are launching W5 Smart Wallet, a new wallet standard developed by Tonkeeper in close cooperation with the TON Core team!

To try W5, update your Tonkeeper to the latest version, then create a new wallet, selecting W5 in Settings.
More details: https://t.co/q9sJCi5LRv pic.twitter.com/p1sv9VvwDg

— Tonkeeper (@tonkeeper) July 25, 2024

>> Also read: TON Foundation Unveils Bitcoin Bridge to Enhance DeFi Ecosystem on The Open Network

Originally developed by Tonkeeper and subsequently approved by the TON Core team, the W5 smart wallet represents a significant leap forward in blockchain usability. Users can now conduct transactions using USDT as payment for fees when sending USDT, and Notcoin for gas fees when transferring Notcoin.

🔈 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

Oleg Andreev, CEO of Tonkeeper, emphasized the wallet’s potential impact: “The W5 Smart Wallet has pushed the boundaries of what’s possible on TON blockchain. Our collaboration with TON Core ensures that users experience unparalleled security, efficiency, and ease of use.”

One of the key features of the W5 standard is its ability to process up to 255 transactions simultaneously. This advanced parallel processing opens up new possibilities, such as transferring multiple NFTs at once or managing decentralized subscriptions seamlessly.

The W5 wallet also introduces enhanced security features, including two-factor authentication, wallet freezing, and key recovery. These additions aim to make blockchain interactions more user-friendly and secure for mainstream adoption.

Currently live on Tonkeeper, the W5 standard is expected to roll out on other TON-based wallets in the coming months. This development comes as TON claims to have 5.8 million monthly active on-chain wallets, with the blockchain experiencing significant growth in 2024 due to popular Telegram mini-app games.

As the TON ecosystem continues to evolve, the introduction of the W5 smart wallet marks a significant step towards simplifying blockchain interactions and potentially driving mass adoption of cryptocurrency technology.