TON blockchain gasless transactions go live following launch of new smart wallet standard

The W5 Smart Wallet

The Core team, in collaboration with the non-custodial wallet Tonkeeper, has launched the W5 smart wallet standard — enabling gasless transactions on TON blockchain.

The W5 smart wallet was originally developed by Tonkeeper and subsequently approved as a standard by the TON Core team. It enables users to make transactions using as payment for transaction fees while sending USDT and Notcoin as payment for gas fees when sending Notcoin, according to a statement shared with The Block.

“The W5 Smart Wallet has pushed the boundaries of what’s possible on TON blockchain,” Tonkeeper CEO Oleg Andreev said. “Our collaboration with TON Core ensures that users experience unparalleled security, efficiency and ease of use. This simplicity holds the key to bringing blockchain technology to a mainstream audience and putting crypto in every pocket.”

As a result, users are no longer required to hold toncoin to facilitate payments on TON, reducing the barriers to getting started on the blockchain, the TON Foundation said.

“The new W5 Smart Wallet is all about helping make TON transactions even more social, helping to bring about mass adoption,” TON Core Technical Lead Anatoliy Makosov added. “The Smart Wallet will bring 2-factor-authorisation, password recovery and gasless fees, paid in USDT, making getting started on TON easy for anyone.”

The new standard also enables advanced parallel processing, according to the TON Foundation, allowing users to make up to 255 transactions simultaneously, opening up new use cases. “For example, users could transfer 255 NFTs to different collectors at once, manage multiple decentralized subscriptions seamlessly, or even set up robust security features like two-factor authorization, wallet freezing and key recovery simultaneously,” it said.

The new standard is live on Tonkeeper and is expected to roll out on the self-custodial wallets TON Space and MyTonWallet soon, followed by other TON-based wallets over the coming months.

TON blockchain’s 2024 growth amid Telegram mini app game craze

TON claims to have 5.8 million monthly active on-chain wallets. The gasless transaction feature designed to simplify the user onboarding process and tap into more of Telegram’s 950 million users, with its mini-app games using TON blockchain to facilitate transactions. “This is Web2 UX with all the benefits of Web3,” the TON Foundation said.

The seven-day moving average of TON daily active addresses has surged in 2024 following the advent of popular Telegram mini-games like Notcoin, Hamster Kombat, Yescoin and Catizen, reaching more than 350,000 as of July 24, according to The Block’s data dashboard.