CryptoNews: Visa has finished testing a system to make it easier to pay transaction fees, or 'gas fees,' on the Ethereum blockchain. 🤓
According to the firm, the majority of users find the present gas payment methods to be unnecessarily complicated. Visa noted in athat although blockchain technology has gained a lot of traction recently, people still find it difficult to understand the nuances of on-chain transactions.
Every transaction on Ethereum needs the payment of a gas fee, which often means ensuring one has a balance of Ether in their wallet. TheEthereum standard, which enables smart contracts to operate as wallets by utilizing account abstraction, is what Visa advises using in conjunction with a paymaster contract. This paymaster agreement might support users' gas fees, enabling users to pay for gas directly with a Visa card.
Visa has been actively exploring the crypto sector, including looking into accepting settlement payments using USDC on Ethereum.Related Articles
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