AlexandraAt Etherspot we’re aiming to streamline the Web3 user experience and help the Ethereum ecosystem reach the next level. Recently we introduced our Skandha ERC-4373 bundler which plays an important role in the Account Abstraction approach and unlocks a wide range of benefits for Ethereum and EVM-compatible chain users and developers.
We are thrilled to officially introduce our next development — the open-source Arka Paymaster Service. As a key component of ERC-4337 and Account Abstraction, Paymaster brings a new level of innovation and convenience to developers and users within the blockchain community. In this article, we will explore what Arka Paymaster Service is, what value it brings to developers and users, and why its open-source nature is a game-changer for the industry.
What is Arka Paymaster?
In Ethereum Improvement Proposal (EIP) 4337 Paymasters are smart contract accounts that allow sponsored transactions, enabling projects to cover the transaction costs of their users.
Usually, users are required to have native blockchain tokens to pay for gas and perform transactions. With the advent of Paymasters, the situation has changed, users can pay for gas with any ERC-20 token, such as USDC or USDT. Paymaster enables application developers to sponsor gas fees and accept gas payments in stablecoins or other ERC-20 tokens, benefiting both developers and users.
Any dApp can become a paymaster and sponsor transactions of its users. Etherspot offers a Paymaster contract that allows an external signer to sign a UserOperation (transaction) and pay for the gas costs of executing that UserOperation. A dApp (paymaster) signs to agree to pay for gas, and the wallet signs to prove identity and account ownership.
At the same time, Etherspot provides dApp developers with another tool — Arka Paymaster Service. Arka is a backend service that will validate whether the dApp user is eligible for sponsorship and, if so, generate the necessary sponsorship transaction on their behalf.
Arka provides a wide range of features that enhance developers’ capabilities:
Sponsored transactions. It allows projects to pay transaction fees on behalf of end-users, enhancing user experience.
Gasless transactions. It enables users to perform transactions without the need for native token holdings on the dedicated chain. They can pay for gas with ERC-20 supported tokens.
Visit our GitHub to learn more: https://github.com/etherspot/arka
The Importance of Open-Source Arka Paymaster Service
Arka is an open-sourced paymaster service. This aspect is crucial for the advancement and adoption of Web3. By open-sourcing Arka, we are fostering collaboration, transparency, and innovation within the community. Open-source projects allow developers to study, modify, and contribute to the codebase, driving rapid evolution and improvement. The open nature of Arka Paymaster Service ensures that its development is not restricted to a single entity.
In conclusion, Paymaster is a revolutionary development in the blockchain industry offering developers a powerful tool for transaction sponsorship and significantly improving user experience. Our open-source Arka Paymaster service is available for everyone. If you want to move towards Account Abstraction, Etherspot offers a wide range of tools that will greatly enhance your development process and user experience of your dApps. Check them out here.
