TON Unveils W5 Smart Wallet Standard for Gasless Transactions on Blockchain
The TON Core team, in partnership with the non-custodial wallet provider Tonkeeper, has introduced the W5 smart wallet standard, which enables gasless transactions on the TON blockchain.
Initially developed by Tonkeeper, the W5 smart wallet standard was later endorsed by the TON Core team. This innovation allows users to cover transaction fees with USDT for transactions involving USDT and Notcoin for transactions involving Notcoin, according to a statement shared with The Block.
“The W5 Smart Wallet has pushed the limits of what's achievable on the TON blockchain,” said Tonkeeper CEO Oleg Andreev. “Our partnership with TON Core guarantees users a seamless experience with unmatched security and efficiency. This simplicity is crucial for mainstream adoption and bringing cryptocurrency into everyday use.”
The introduction of the W5 Smart Wallet eliminates the need for users to hold toncoin for transaction fees, making it easier to start using the blockchain, the TON Foundation noted.
Anatoliy Makosov, Technical Lead at TON Core, added, “The new W5 Smart Wallet is designed to make TON transactions more user-friendly and promote widespread adoption. It includes features like 2-factor authentication, password recovery, and gasless transactions in USDT, simplifying the onboarding process for new users.” Additionally, the W5 standard supports advanced parallel processing, allowing users to handle up to 255 transactions simultaneously. This functionality opens up new possibilities, such as transferring 255 NFTs to different collectors at once, managing multiple decentralized subscriptions, or implementing robust security measures like two-factor authentication and wallet freezing.
The W5 standard is now available on Tonkeeper and is expected to be integrated into self-custodial wallets like TON Space and MyTonWallet soon, with additional wallet providers adopting it over the next few months.
The TON blockchain has seen significant growth in 2024, driven by the popularity of Telegram mini-app games. With 5.8 million monthly active on-chain wallets, the introduction of gasless transactions aims to simplify user onboarding and engage more of Telegram’s 950 million users. The TON Foundation highlighted that this development merges the ease of Web2 with the advantages of Web3.
The seven-day moving average of daily active addresses on TON has increased this year, spurred by popular Telegram mini-games such as Notcoin, Hamster Kombat, Yescoin, and Catizen.