Crypto Market Analysis | Ethereum Foundation tech powers gasless wallet transactions

Ethereum Foundation tech powers gasless wallet transactions

Ethereum layer two-specialized wallet BLS Wallet launched an integration with smart contract layer ethereum layer two protocol Metis (METIS) — promising feeless transactions.

In an announcement shared with Crypto.News, the new integration will ease onboarding to web 3.0 application of web 2.0 users. This will be achieved by pre-funded transactions that are free for the end user and social key recovery reducing the consequences of private key mishandling — among other things.

Developers using the Metis ecosystem are free to change between BLS Wallet or regular transactions and easily onboard Web 2.0 users through gasless transactions that make interactions more similar to traditional web interface interactions without digital assets involvement.

The protocol also allows for signature aggregation which results in many transactions be processed as one big transaction to save costs.

All those features put together result in what James Zaki — project lead at BLS Wallet and privacy and scaling explorations group —calls “account abstraction.”

“Account abstraction will change how users experience Web3.”

James Zaki, project lead at BLS Wallet.

BLS wallet is part of the privacy & scaling explorations team supported by the Ethereum Foundation.

The announcement follows the valuation of competing wallet Blocto Wallet rising 700% following its Series A funding round which was the participation of notable investors like Mark Cuban and 500 Global.

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