MetaMask working on a solution for Ethereum transaction fees
- The solution will ideally allow DApps to cover fees on behalf of users, which will enhance the user experience.
- MetaMask recently completed its Generalized Metatransaction Contest, which was designed to find this solution.
The popular Ethereum wallet, MetaMask, is working towards developing a solution to Ethereum transaction fees. The solution will ideally allow DApps to cover these fees on behalf of users, which will enhance the user experience. MetaMask recently completed its Generalized Metatransaction Contest, which was designed to find this solution.
At present, Ethereum users are paying a fee to send ETH tokens via DApps or any other service. This fee is needed to reduce spam transactions within the network. MetaMask’s ideal solution should cover these costs, on behalf of its users, using meta-transactions. This will offer a more affordable user experience.
Ethereum already offers some support for meta-transactions. MetaMask’s contest aimed to unite those features with a universal approach:
We’d like a generalized method that could invoke any method on the contract… which would allow wallets like MetaMask to render nice confirmation screens for users signing messages using this approach. At the very least, we would like to see a proposed standard interface for processing these messages.
Developers from projects that have done past work on meta-transactions will judge the entries. Austin Griffith, the creator of Burner Wallet, is headlining the panel. Mark Beylin of Bounties Network and Mariano Conti of Maker DAO will also serve as judges. The total prize money of the contest is around $4,500 and the winner will be announced by February 2.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
