Future

2024

World

when

Torus

<div><img fetchpriority="high" decoding="async" width="300" height="200" src="https://droomdroom.com/wp-content/uploads/2024/07/Gasless-Transactions-300x200.jpg" class="attachment-medium size-medium wp-post-image" alt="Gasless Transactions" style="margin-bottom: 10px;" title="Explaining Gasless Transactions 1">
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<p>You might have heard that to transact on any blockchain, there is a fee, often termed the gas fee. However, some blockchains, <a href="https://droomdroom.com/guide-to-layer-2-scaling-solutions/" target="_blank" rel="noopener noreferrer nofollow">Layer-2</a> protocols, and Dapps allow users to transact without any gas fee. These kinds of transactions are called Gasless Transactions.</p>
<p>In this article, we will explain gasless transactions, their technology, working, and application.</p>
<p>#<strong>NOTE</strong>: The scope of the discussion will be limited to public blockchains.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p><a href="https://droomdroom.com/private-and-public-blockchains-the-top-differences/" target="_blank" rel="noopener noreferrer nofollow"><strong>Public blockchains are those which do not require any permission to create an address. Conversely, private blockchains can only be joined with prior permission.</strong></a></p>
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<h2 class="wp-block-heading" id="strong-the-concept-of-gasless-transactions-strong"><strong>The Concept of Gasless Transactions</strong></h2>
<p>Gasless transactions, also known as meta transactions, are an ingenious application of blockchain technology. Unlike usual transactions, users of gasless protocols do not have to pay a <a href="https://droomdroom.com/how-are-gas-fees-calculated-on-ethereum/" target="_blank" rel="noopener noreferrer nofollow">gas fee</a>.&nbsp;</p>
<p>This is possible because of a third-party gas fee pool. Usually, the owners deposit a certain amount of crypto, which is then deducted from the pool after every transaction. As users use the protocol, the gas fee is automatically paid from the pool.&nbsp;</p>
<p>For the users, it seems like they are using the protocol without any transaction cost.</p>
<p>The concept of the gas fee has been a great success for marketing those crypto projects that usually have high competition.&nbsp;</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p><a href="https://droomdroom.com/how-can-layer-2s-afford-ultra-low-gas-fees/" target="_blank" rel="noopener noreferrer nofollow"><strong>Layer-2s use yet another way to reduce gas fees</strong></a><strong>.</strong></p>
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<h2 class="wp-block-heading" id="strong-how-do-gasless-transactions-work-strong"><strong>How do Gasless Transactions Work?</strong></h2>
<p>Gasless transactions are implemented in just two stages. A person initiates the transaction, which is then sent to the relayer, who pays the gas fee and sends it to the blockchain.</p>
<h3 class="wp-block-heading" id="strong-stage-1-initiation-and-relay-strong"><strong>Stage 1: Initiation and Relay</strong></h3>
<p>In the first step, when the transaction is created, usually by the user of any <a href="https://droomdroom.com/tutorial-to-building-ethereum-dapps/" target="_blank" rel="noopener noreferrer nofollow">Dapp</a> or protocol, it is sent to a relayer, which can either be an automated smart contract or a manual user.</p>
<p>EIP-712 is used to create such relayed transactions on Ethereum.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-stage-2-paying-gas-strong"><strong>Stage 2: Paying Gas&nbsp;</strong></h3>
<p>In the second stage, the relayer pays the gas fee and sends the transaction to the <a href="https://droomdroom.com/blockchain-technology-bringing-prosperity-to-developing-nations/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a>. After that, the usual validation process occurs, and the transaction is finalized.</p>
<p>Here is an example of a gasless blockchain: Torus.</p>
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   <p lang="en" dir="ltr">Torus is reshaping the blockchain <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Torus offers speed, scalability, transparency and above all we introduce GASLESS transaction… Its time to empower projects and developers <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> We are pushing the boundaries of innovation. Join the Torus Revolution!<a href="https://twitter.com/hashtag/Torus?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Torus</a> <a href="https://twitter.com/hashtag/Blockchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Blockchain</a>… <a href="https://t.co/Z2cUDzz340" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/Z2cUDzz340</a></p>— TorusChain (@TorusChain) <a href="https://twitter.com/TorusChain/status/1814342228958953943?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">July 19, 2024</a>
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<h2 class="wp-block-heading" id="strong-applications-and-future-use-strong"><strong>Applications and Future Use</strong></h2>
<h3 class="wp-block-heading" id="strong-nft-airdrops-strong"><strong>NFT Airdrops</strong></h3>
<p>Gasless transactions are used in several applications. The most popular use is in <a href="https://droomdroom.com/future-of-nfts-trends-and-predictions/" target="_blank" rel="noopener noreferrer nofollow">NFT</a> minting. Several NFT projects whitelist users and pay the gas on their behalf, which then helps them mint the airdropped NFTs for free.</p>
<h3 class="wp-block-heading" id="strong-real-world-assets-strong"><strong>Real World Assets</strong></h3>
<p>Gasless transactions might become a necessity for projects like <a href="https://droomdroom.com/real-world-assets-in-defi-explained/" target="_blank" rel="noopener noreferrer nofollow">Real World Asset</a> tokenization. Since the value of each tokenised asset would be high, the tokenization fee charged by the RWA project might also include the gas fee by default, thereby liberating users from extra hassle.&nbsp;</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p><a href="https://droomdroom.com/real-world-assets-in-defi-explained/" target="_blank" rel="noopener noreferrer nofollow"><strong>RWAs represent the cutting edge application of blockchain technology and have been a very profitable sector for its investors.</strong></a></p>
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<h2 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h2>
<p>Gasless transactions can be a revolutionary tool to attract more users to various crypto projects. Projects featuring gasless transactions pay the gas fees on behalf of their customers to give them a better experience. Such a feature can often be seen in projects where the benefits of using them far outweigh their cost.</p>

Explaining Gasless Transactions

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