As with any new technology, understanding Web 3.0 and decentralized applications (dApps) can be intimidating for those taking their first steps in the world of cryptocurrencies. This is where Biconomy is trying to make a difference. Through its protocol, it aims to seamlessly connect users to dApps across multiple chains at relatively cheaper transaction rates.
How will Biconomy help users?
Biconomy’s application programming interfaces (APIs) and software development kits (SDKs) make any dAapp usable for anyone irrespective of their crypto knowledge and experience. Their multi-chain relayer infrastructure processes nearly 50,000 transactions daily for over 100 dApps. This ensures users get the benefits of Web 3.0 but with the intuitiveness of the current version of the internet or Web 2.0.
The platform is on a mission to onboard the next billion users to Web 3.0 through all these initiatives.
The multi-chain structure also provides interoperability with other blockchains, giving users more options on what crypto tokens they want to use for transactions. Interoperability refers to the process of data sharing and communication between two blockchains.
How is Biconomy simplifying the transaction process?
Biconomy’s APIs/SDKs do the heavy lifting for developers to make transactions smoother, at the same time ensuring the dApps are as simple for users as any regular app. Biconomy calls them ‘Plug and Play APIs’ which means anyone can implement their API by simply downloading it and using it on their protocol.
It will provide multiple user-friendly features like:
But one of the most impressive features Biconomy has incorporated in their multi-chain relayer is allowing their users to perform a transaction on a blockchain with zero account balance by deferring the payment to any third party. They use the concept of native meta transactions to implement this feature. Popular dApps such as Decentraland, The Sandbox, dYdX, etc. are leveraging Biconomy to offer such a seamless experience to their users.
Using meta transactions, users of a dApp can directly communicate with smart contracts through signed messages. Any third party can relay signed messages without changing the sender value.
In November, Biconomy released its native token BICO that can be easily bought on their platform as well as on WazirX, a leading crypto exchange. Biconomy has also partnered with WazirX for a host of activities and amazing giveaways worth Rs 25 lakh ($33,700). Their ‘Grand $Bico Giveaway’ event starts on February 11 and ends on February 16. You can participate by signing up on the WazirX platform and by following their social media feed on Twitter and Instagram.
