Vechain Removes Blockchain Transaction Fees For VeWorld Wallet Users, Opens Doors To Mass Adoption of Blockchain

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Apr 06, 2023, 08:33 ET

SAN MARINO, April 6, 2023 /PRNewswire/ -- Vechain recently upgraded its new official Web Wallet - VeWorld - with 'fee delegation', a powerful abstraction feature that removes the need for users of blockchain and decentralised applications to pay transaction fees. Instead, smart contracts handle payments on their behalf, removing a key adoption hurdle and drastically lowering barriers to entry for the industry.

Vechain demonstrates fee delegation within the VeWorld web wallet. No fees are deducted from the user's wallet, instead being paid by a third party account.

To date, fee delegation has formed a key part of vechain's enterprise adoption strategy, allowing enterprises to pay to use vechain's blockchain as a subscription service and build business ecosystems on public blockchain, even in the most stringent legal jurisdictions. Through fee delegation, vechain is providing developers a superior blockchain environment for decentralised applications, maximising the potential audience by catering for even non-technical users or cryptocurrency owners.

Fee delegation, when combined with vechain's upcoming Web3-as-a-Service platform VORJ, is turbocharging the capabilities of blockchain developers, offering an incredibly quick, user-friendly and low-cost building environment, establishing VechainThor as one of the most powerful and functional blockchains on the market.

Vechain has always maintained that achieving mass adoption of blockchain technology requires applications to feel as familiar as a website for the average user. Through the implementation of fee delegation, and vechain's upcoming VORJ platform, the foundation aims to facilitate blockchain's first mass adoptable 'killer app' and open the flood gates to the next billion Web3 users.

About vechain

Vechain, headquartered in San Marino, Europe, is the curator of VechainThor, a world leading smart contract platform spearheading the real-world adoption of blockchain technology.

Through leveraging the capabilities of 'trustless' data (information without intermediaries), smart contracts and IoT technologies, VechainThor has enabled solutions across a wide array of fields. Vechain now turns its attention to the greatest challenge of all — building digital ecosystems to drive sustainability and digital transformation at global scale.

Visit https://www.vechain.org to learn more.

Video - https://www.youtube.com/watch?v=bRoVKQkJC2I
Photo - https://mma.prnewswire.com/media/2048496/VeWorld.jpg