How Can Gasless Transaction Models Be Implemented for Options Trading without Centralizing the System?
Gasless transactions, or "meta-transactions," can be implemented by having a third-party relayer pay the gas fee on behalf of the user. In this model, a user signs a message containing the transaction details with their private key, and the relayer submits this signed message to the blockchain, paying the gas.
To avoid centralization, a decentralized network of relayers can be used, where relayers compete to process transactions. The relayer can be compensated either through a fee taken from the transaction itself (e.g. a small portion of the option premium) or through a separate payment channel, preserving the decentralized nature of the interaction.
Glossar
Decentralized Network
Architecture ⎊ Decentralized Network describes a system where computational nodes are distributed geographically and organizationally, ensuring no single entity has unilateral control over data validation or transaction processing.
Options Trading
Stewardship ⎊ Involves utilizing these contracts to manage exposure to assets whose underlying technology or governance may evolve, ensuring capital is not locked into potentially obsolete systems.
Gasless Transaction Models
Model ⎊ Gasless Transaction Models describe architectural patterns where the end-user does not directly pay the network transaction fee, or "gas," for their on-chain operations.
Gasless Transactions
Sponsor ⎊ Gasless transactions rely on a third-party entity, often termed a relayer or sponsor, to cover the network transaction fees on behalf of the end-user.