A meta-transaction is a transaction that allows users to interact with a blockchain without needing to hold the native cryptocurrency for gas fees. Instead, a third party or relayer can pay these fees on behalf of the user.This method involves two main components: the user’s request and the relayer’s action. The user signs a message indicating the transaction they want to execute, which is then sent to the relayer. The relayer includes this signed message in a standard transaction, pays the necessary gas fees, and submits it to the blockchain.Meta-transactions enhance user experience by reducing barriers to entry, especially for those unfamiliar with managing cryptocurrency. They allow applications to cover transaction fees, simplifying interactions and making it easier for users to engage with decentralized platforms.Overall, meta-transactions increase accessibility, enabling broader adoption and usability of blockchain applications. This approach can be particularly beneficial for mobile and web applications, where ease of use is crucial for attracting and retaining users.
Franklin Templeton Forecasts Bitcoin Adoption as National Reserve Asset by 2025
Franklin Templeton, one of the world’s largest asset managers, has projected that nations could begin adopting Bitcoin as part of