A gasless transaction refers to a type of transaction in which the user does not need to pay transaction fees, usually called “gas,” associated with processing transactions on a blockchain. This approach allows users to interact with decentralized applications (dApps) without worrying about the costs of sending transactions.Instead of the user covering the gas fees, a third party—often the dApp creator or a sponsor—can pay these fees on the user’s behalf. This method can enhance user experience by removing the barrier of needing to acquire cryptocurrency to perform actions like trading or swapping tokens.Gasless transactions often utilize mechanisms such as meta-transactions. In this setup, a user can sign a transaction and pass it to a relayer, which submits it to the network while covering the fees. This process is especially useful for onboarding new users who may be unfamiliar with the intricacies of gas fees or those who want to participate without holding any cryptocurrency. Overall, this innovation aims to improve accessibility and enhance user engagement in blockchain applications.
Avalanche Treasury Co. to Go Public in $675M Deal With Mountain Lake Acquisition
Avalanche Treasury Co. (AVAT), a digital asset treasury company aligned with the Avalanche Foundation, said Wednesday it has agreed to