Kadena Announces First Crypto-based Gas Station
Kadena is one of the well-known names in the blockchain industry. The organization has carved out a place owing to its competence in offering the blockchain products/applications in a simple and uncomplicated manner. Its smart contract feature is user-friendly, while its wallet application can be operated without any unnecessary complications. The company also offers the Chainweaver platform, which helps developers to come out with new blockchain products that can be applied to real-world conditions. Now Kadena has added another feather to its well-adorned hat. The company has announced that using the public blockchain; it has implemented the world’s first-ever cryptocurrency gas station.
#Kadena has launched the world's first autonomous crypto gas station, now live on our sharded & scalable layer-1 PoW #blockchain. Gas stations address a big barrier to adoption – requiring users to onboard to a #crypto to pay gas for dApp transactions. https://t.co/Wwv99ooWp2
— Kadena (@kadena_io) August 5, 2020
The biggest barrier to the adoption of decentralized applications is the complexity of the procedure involved in downloading and activating the app. The user first needs to download the wallet, purchase the cryptocurrency from an exchange, and then only he/she can pay for a particular product/service.
Understanding this complexity, Kadena has found solutions in terms of gas stations. By supporting multi-signature and capability-based security, a gas station account will be used to pay the cost involved in getting the customer on board on a particular decentralized application. This will reduce the complexity of the interaction and make the customer experience pleasant and encouraging.
The company is currently experimenting with the project, and if initial indications are anything to go by, this process has the potential to make a decentralized application more easy and user-friendly to operate, especially for first-time users. As of now, two types of gas stations are up for the use and review of the community – Gas Guard (within threshold limits) and Gas Payer (approved accounts only).
This project has huge potential to help decentralized applications widen their reach and applicability. Given the fact that this mechanism will do away with the complex procedural requirements that one has to meet to use the app, this project will help to expand the overall scope of the crypto universe in the future. The project aims to simplify the procedure and make the decentralized applications easy and user-friendly in nature.