EVM
This section of the whitepaper outlines the technical architecture and operational mechanics behind enabling gasless transactions for ERC-20 tokens within EVM-compatible networks. The framework leverages innovative protocols such as ERC-865 and ERC-2771, which allow transactions to be processed without requiring the sender to hold or spend the native network token for gas fees.
Key Components:
Meta Transactions: Users sign meta transactions containing their intended operations. These signed transactions do not directly interact with the blockchain and thus do not require gas fees from the user.
Relayers: Trusted entities or services that receive signed meta transactions from users, pay the required gas fees to submit these transactions to the blockchain, and then execute them on behalf of the users.
Compensation Mechanism: Relayers are compensated for the gas fees they pay, in ERC-20 tokens or via other agreed-upon methods. This can involve smart contract logic that directly transfers ERC-20 tokens from the user's balance to the relayer as payment.
Smart Contract Support: The implementation of smart contracts that can interpret and execute meta transactions. These contracts include logic for verifying the signature of the meta transaction, ensuring the relayer is compensated, and executing the intended action without the direct payment of gas by the user.
Benefits:
User Experience: Significantly improves user experience by removing the need for users to hold native network tokens for gas, simplifying interactions with decentralized applications (dApps).
Accessibility: Increases accessibility and adoption of dApps by lowering the entry barrier for users unfamiliar with the complexities of gas fees and token management.
Efficiency: Encourages more efficient use of network resources by enabling batch processing of transactions and optimizing gas costs through relayers.
Challenges and Considerations:
Relayer Trust: Establishing a reliable network of relayers to ensure transactions are processed timely and securely.
Gas Fee Volatility: Managing the volatility of gas prices and ensuring relayers are fairly compensated.
Security: Ensuring the integrity of meta transactions and preventing potential exploits or attacks on the system.
This framework represents a foundational step towards achieving a more accessible and user-friendly blockchain ecosystem, where the complexities and costs associated with transaction fees do not hinder participation and innovation.