VeChain (VET) provides price delegation as a service to enhance the introduction of mass cryptocurrencies
VeChain has introduced Charge Delegation as a Service (DaaS) and VIP-201, which are seen as major breakthroughs in their charge delegation protocol. With DaaS, they can enable seamless mass adoption of dApps with NFT gaming and DeFi applications.
This is important as users using the public blockchain based decentralized applications (dApps) sign transactions with their private keys to start the smart contract functions and pay a value for the execution and documentation of their transactions in the public ledger.
When users need to pay in crypto, they need to invest in crypto and have it in hand, and the crypto should withstand the fluctuations in value of volatility. When transaction costs differ and the value of the crypto fluctuates, there is a problem with paying the transaction fee in a particular crypto to pay for the dApps and this creates problems with mass adoption as not everyone is interested in gambling with volatility. Not all of them have the stamina to deal with volatility trends.
VeChain must state that it is important to only provide the infrastructure for the Dapps and not be directly exposed to the users of decentralized applications running on the VeChain network. So far, solutions to this problem have proven inefficient.
It should be noted that the VeChainThor supports these functions out of the box and is now pleased about the charge delegation protocol made possible with the VIP-191 protocol.
With the DaaS, the projects can hide the difficulties of paying transaction costs from their users, thus enhancing the user experience, which facilitates mass adoption.
Thus it is possible to pay the transaction fees for each project in the VeChain ecosystem. They therefore believe that VeChainThor will create a real and unique demand for the token and related DeFi services.
The details for structuring a dApp with DaaS on VeChainThor are clearly provided in the network.
VeChain (VET) mass adoption
This was also the problem in several other ecosystems. Users are ok with paying for a service or Dapp they use, but they don’t want to go through a lot of conversion and mutual conversion of value by paying in different cryptographies. This is one reason why a decentralized cryptocurrency emerged. However, it looks like there are multiple domestic cryptocurrencies, the various native tokens of different ecosystems need to be converted together, and the same problem is emerging and the developers are doing everything possible to stay away from such problems.
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