Vechain adds a fee delegation feature to its web wallet

Friday 7 April 2023 13:31 CET | News

San Marino-based Vechain has added a fee delegation feature to its VeWorld web wallet to remove blockchain transaction fees.


This new feature addition aims to lower barriers to entry for the crypto industry by leveraging smart contracts to handle payments on the users’ behalf. Vechain is using fee delegation to offer a better blockchain environment for decentralised applications. This can help increase its potential audience by catering for non-technical users or cryptocurrency owners. 

According to the company press release, fee delegation, when mixed with the company’s upcoming Web3-as-a-Service platform, VORJ, can offer a quick, user-friendly, and low-cost building environment. Consequently, this can improve the standing of VechainThor among other blockchains on the market. The same source details that Vechain’s vision is to support the mass adoption of blockchain technology by ensuring that applications feel as familiar as a website for the average user. 

Vechain’s VeWorld wallet is developed and maintained by the Vechain Foundation. It represents a decentralised self-custody wallet with no lock-in. The product allows users to import their accounts with a mnemonic phrase to leverage its features, and it was designed to allow users to experience Web3 within a sustainable blockchain. 

VeWorld is an extension for the Google Chrome web browser, and it allows users to access Vechain-enabled distributed applications, also known as Dapps. The extension injects the VeWorld API into every website's javascript context so that Dapps can easily read from, connect, and interact with the VeChain blockchain.


San Marino-based Vechain has added a fee delegation feature to its VeWorld web wallet to remove blockchain transaction fees.


Vechain’s collaboration with SafeTech Labs

According to Vechain, the company’s mission is to create a robust foundational blockchain infrastructure while promoting Web3 adoption throughout the global economy. In April 2023, Vechain partnered SafeTech Labs to deploy mainnet node clusters across Europe and the United States with the goal of increasing the resilience and robustness of the VechainThor public blockchain. 

SafeTech Labs is a Belgium-based company that specialises in Web3 API Gateway, blockchain & Dapp development, designing hardware infrastructure, and security engineering that supports the digital transformation of business processes. 

As part of this collaboration, Safe Tech Labs deployed three sets of Thor node clusters in Europe and the US. This increased the diversity of mainnet access points for developers and boosted the reliability of other infrastructure systems, including Vechain’s VeWorld Web Wallet.

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Keywords: DeFi, digital wallet, web3, cryptocurrency, product upgrade
Categories: DeFi & Crypto & Web3
Companies: Vechain
Countries: San Marino
This article is part of category

DeFi & Crypto & Web3


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