- VeChain has implemented fee delegation in its official web wallet, VeWorld, to eliminate the need for users to manage their own transaction fees and increase blockchain adoption.
- This update simplifies blockchain technology for developers, marketplaces, DApp users, and the general public.
VeChain’s Fee Delegation Update Simplifies Blockchain Adoption
VeChain, a leading smart contract platform, has announced the implementation of fee delegation in its official web wallet, VeWorld, to further increase blockchain adoption. The fee delegation feature enables global enterprises to use the VeChainThor public blockchain without paying transaction fees or managing crypto assets directly.
With the integration of fee delegation in VeWorld, VeChain has eliminated the need for users to manage their own transaction fees, thus creating a more user-friendly experience for developers, marketplaces, DApp users, and ultimately, members of the general public who wish to use blockchain applications.
The feature allows users to navigate to VeWorld’s settings and add a sponsor account or URL to use the blockchain without managing transaction costs. VeChain has also enabled the delegation of transaction cost payments from another wallet, allowing X-Nodes to become ecosystem ‘gas stations’ for DApps, businesses, DeFi, or any other kind of activity running on VeChain’s blockchain.
The update showcases the use of URL fee delegation, with services provided by ‘VeFree,’ a third-party delegation service. The delegating URL is provided by ‘vechain.energy,’ a VeChain ecosystem tool builder that developed a transaction sponsoring service called ‘VeFree.’ The service allows users to select the delegating URL at the moment of sending a transaction, with fees on the user’s behalf.
VeChain’s goal is to simplify blockchain technology and facilitate mass adoption. The company believes that the mass adoption of blockchain will only occur when it is as simple as using the internet. With VeWorld’s fee delegation feature, VeChain is creating an optimal environment to achieve this goal and onboard the next billion users.
Building the Most Powerful Blockchain Environment
In combination with its upcoming Web3-as-a-service platform, VORJ, VeChain is building the most powerful blockchain environment on the market for builders, businesses, and everyone in-between looking to embrace the power of Web3 technologies. This approach is taking the entire blockchain sector to new adoption territories.
VeChain’s pioneering approach to tool building has enabled solutions across a wide array of fields. The company has many more exciting developments in 2023 that promise to unlock the power of VeChain for the global economy. VeChain is headquartered in San Marino, Europe, and aims to build digital ecosystems to drive sustainability and digital transformation at a global scale.