Biconomy has enabled Ethereum gas-free transactions for its users as part of its beta mainnet launch on May 4.
This Biconomy beta mainnet would also provide tools that will permit users to access its platform without interactions with crypto wallets. These tools, designed for decentralized application (DApp) developers, would, moreover, allow transactions without the payment of gas fees.
Biconomy’s new relayer infrastructure focuses on simplifying the use of integrated DApps and enables gasless transactions. These transactions will bring about different ways of value transfer without dependency on complex login credentials or private keys. As a result, the infrastructure would remove friction and allow developers to save more money. This would further promote a smooth and seamless user experience of DApps.
Gasless transactions to enhance DApp integration
These developments make it easy for the successful onboarding of DApps. It would also remove most of the technical challenges that users face while interacting with DApps, especially involving wallet and Dapp integrations.
There will be no login changes and users will access their services normally. However, Biconomy relayer infrastructure will process transfer individually and purchase tokens, underneath the setup. Thus, developers can now easily onboard new users in their products, via the protocol.
Gas free transactions to transform DeFi
These zero gas fee transactions will transform decentralized finance (DeFi) and change the way it operates. Biconomy beta mainnet will provide an advanced toolset for DApps, in the long run. Through this process, developers will be able to bypass crypto wallets.
Most DApps, especially those within DeFi, requires certain transactions to send messages and allow token trading. With Biconomy, developers will now have the option to cover these fees and treat them as customer acquisition costs. This, in turn, reduces friction and enables swift user growth.
With just a few lines of code, developers can integrate Biconomy into their applications. That will give the developers access to a dashboard that they can use to monitor the gas consumption rate and the onboarding statistics for users.
Biconomy and its launch partners
Biconomy has great compatibility for Ethereum developers. However, the agnostic nature of its protocol also allows it to function optimally with other DApp platforms like TRON and EOS.
Also, the launch of Biconomy’s beta mainnet comes with the support of some launch partners. These partners will leverage on Biconomy to provide frictionless onboarding and experience for their users.
After months of hard work & preparation, we are finally excited to launch our Beta mainnet today.
We will be announcing our 10 Launch Partners that will be integrating Biconomy every hour from this tweet!
There will be cool demos too, so stay tuned for this thread 🧵 pic.twitter.com/WE5gSTwxZx
— Biconomy (@biconomy) May 4, 2020
Previously, we reported co-creator of Ethereum, Vitalik Buterin sharing his thoughts on Ethereum 2.0 staking and the relationship with Bitcoin in a recent podcast interview. Earlier, we covered a story of the momentum of DApps using the Ethereum protocol while the unprecedented crisis due to the COVID-19 pandemic continued.