TON Blockchain Launches W5 Smart Wallet for Gasless Transactions

Highlights:

• TON’s W5 smart wallet facilitates gasless transactions using USDT and Notcoin, bypassing the need for toncoin.
• Up to 255 transactions can be processed simultaneously with TON’s new W5 wallet, enhancing transaction efficiency.
• TON blockchain’s W5 wallet now supports enhanced security features like 2-factor authentication and password recovery.

The TON blockchain has made strides in enhancing user accessibility and transaction efficiency with the launch of its new W5 smart wallet standard. Developed in collaboration with Tonkeeper, this initiative introduces gasless transactions and significantly develops the blockchain’s functionality.

A New Era for Blockchain Transactions

According to TON’s blog, under the new W5 smart wallet standard, TON users are no longer required to hold the native Ton coin to facilitate transactions. This development allows users to conduct transactions using USDT for transfers in the same currency or Notcoin for other transfers, such as payment for gas fees. 

🔈 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

The W5 wallet supports the execution of up to 255 transactions simultaneously. This feature significantly broadens the scope of blockchain activities users can engage in simultaneously. This could include sending multiple NFTs to different recipients or managing several decentralized subscriptions seamlessly.

Oleg Andreev, CEO of Tonkeeper, shared his enthusiasm about the advancement: “The W5 Smart Wallet has pushed the boundaries of what’s possible on TON blockchain. Partnering with TON Core guarantees users exceptional security, efficiency, and ease of use.”

Expanding Blockchain Accessibility

The launch of the W5 smart wallet is particularly noteworthy as it seeks to lower barriers to entry for new users. In addition, this will integrate more closely with Telegram’s extensive user base of 950 million. This integration is expected to further TON’s goal of mainstream blockchain adoption.

Anatoliy Makosov, TON Core Technical Lead, highlighted the broader implications of the wallet’s features: “The Smart Wallet will bring two-factor authorization, password recovery, and gasless fees, paid in USDT, making getting started on TON easy for anyone.”

The W5 smart wallet standard is already live on Tonkeeper. Other TON-affiliated wallets like TON Space and MyTonWallet will soon offer it. Consequently, this will enhance the overall user experience across the blockchain network. This initiative by the TON blockchain is timely, as the platform recently reported a significant increase in activity, with 5.8 million monthly active on-chain wallets. Introducing gasless transactions and seamless integration with popular Telegram mini-games using the TON blockchain will further boost daily active addresses.

TON Foundation, Animoca Brands $20M Blockchain Partnership

This week, TON Foundation partnered with Animoca Brands subsidiaries Mocaverse and MOCA Foundation in a $20 million blockchain initiative. The collaboration aims to boost TON adoption and enhance cross-ecosystem engagement. A token swap between MOCA Coin and Toncoin will create a reserve fund for developer incentives and user adoption programs.

Two days ago, we announced TON Foundation’s strategic partnership with @animocabrands' @MOCAFoundation!

But why is this a big deal? 👀

🧵⬇️ pic.twitter.com/2aE2b7X5Qi

— TON 💎 (@ton_blockchain) July 24, 2024

Mocaverse will develop a reputation scoring system on TON and contribute to the TON Society ID. Steve Yun, president of the TON Foundation Council, stated, “TON’s vision of promoting free interaction aligns well with Animoca Brands’ emphasis on digital property rights.” The partnership will leverage Mocaverse’s Realm Network SDK and Telegram’s Mini App Platform. Further, the partnership will drive Web3 adoption across gaming, sports, and IP experiences.