What are paymasters

What are Paymasters?

Paymasters are innovative smart contracts that act as financial intermediaries within a blockchain network. They play a crucial role in facilitating gasless transactions, allowing users to interact with dApps without needing to manage individual gas tokens.

Space Lisk's Approach:

Space Lisk's ERC-4337 paymaster takes user-centric funding to the next level. Unlike traditional models, users don't directly fund the paymaster contract. Instead, they leverage a user-friendly interface within the dApp to:

• Specify the account to be funded: This allows users to contribute to their own account or sponsor another user within the paymaster pool.

• Define the contribution amount: Users have complete control over how much Lisk they contribute, tailoring their investment to their anticipated transaction needs.

Benefits of Space Lisk Paymasters:

• Simplified User Experience: The intuitive dApp interface eliminates the complexities of interacting with smart contract addresses.

• Enhanced Control: Users maintain complete autonomy over their contributions and who they choose to sponsor within the paymaster.

• Transparency and Visibility: Clear feedback on recipient addresses and contribution amounts minimizes the risk of errors.

Space Lisk's ERC-4337 paymaster unlocks a world of possibilities for gasless transactions, promoting a more efficient and user-friendly experience on the Lisk network.