The Block16 minutes ago

Published on August 11, 2023 11:55 GMT+00:00edited on August 11, 2023 11:59 GMT+00:00

Global payments giant Visa introduced an experimental solution on Ethereum that removes some of the barriers associated with paying gas fees on the network. 

The experimental solution on Ethereum's Goerli testnet streamlines the interaction between users and the network by leveraging account abstraction technology and the ERC-4337 standard, according to Visa. By doing so, the need for end-users to maintain ether (ETH), Ethereum’s native cryptocurrency, for transaction or “gas” fees is eliminated. Users will still have to technically pay a gas fee, but the method allows them to pay with any token such as USDC or USDT—removing a layer of friction in Ethereum payments. Visa can cover those fees as well. 

Managing ETH balance for gas fees can be challenging for certain users …