Bitcoin’s smart contract-enabled sidechain RSK is introducing the concept of meta-transactions, which allows third parties to pay for a user’s transaction fees.
Announced on Thursday, the “RIF Enveloping” solution enables wallet providers to pay for their users’ transactions. Paying transaction fees is currently a major adoption bottleneck in adoption for smart contract platforms. Users wishing to trade tokens must always have some units of the blockchain’s native currency, for example Ether (ETH) for Ethereum and SmartBitcoin (RBTC) for RSK.
RIF Enveloping introduces meta-transactions to enable greater flexibility for DApp developers. Smart contracts using the technology can choose to subsidize the user’s gas fee completely, or request payment with tokens. The technology will be integrated with Beexo Wallet, one of the main wallet providers for RSK.
Similar solutions exist on Ethereum as well, using OpenZeppelin’s Gas Station Network. Wallets that use it include Argent, which uses smart contracts to store the user’s tokens. While the company used to subsidize gas costs completely, the skyrocketing prices on Ethereum led them to discontinue the program. Nonetheless,Title: RSK users won’t have to pay transaction fees with new integration
Sourced From: cointelegraph.com/news/rsk-users-won-t-have-to-pay-transaction-fees-with-new-integration
Published Date: Thu, 28 Jan 2021 13:02:00 +0000