Telegram's TON Network Adopts W5 Standard for Gas-Free NOT and USDT Transfers

IconCryptoNewsTerminal Staff25 Jul, 2024

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Telegram's TON Network Adopts W5 Standard for Gas-Free NOT and USDT Transfers

As per The Block, the core development team of Telegram's open network (TON) has approved the W5 Smart Wallet standard on the TON blockchain, enabling transactions to be processed without gas fees. W5, developed by Tonkeeper, one of TON's wallets, reportedly eliminates transaction fees when transferring NATCOIN (NOT) and TETHER (USDT). Initially, W5 will be integrated into Telegram's in-house cryptocurrency wallet, TON Space, and later expanded to other TON-based wallets. This move marks a significant step towards enhancing the user experience and adoption of the TON network. By removing gas fees, TON aims to make cryptocurrency transactions more accessible and convenient for users, particularly for micro-transactions and everyday use cases. The W5 standard aligns with TON's broader mission of fostering financial inclusion and accessibility.

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