By utilizing account abstraction and bootstrapping millions in liquidity for TON-based tokens and dApps on the private messaging network, the smart wallet solution makes it possible for quick cryptocurrency transactions on Telegram.

With account abstraction, users may hold assets only in a blockchain smart contract as opposed to an externally owned account (EOA). Removing EOA improves security and opens up a variety of customizable capabilities for on-chain users.

Grindery boasts over 700,000 sign-ups for its beta phase, which launched in September of last year, according to a statement shared with crypto.news. Ahead of its formal listing, the dApp has also registered over 500,000 G1 token holders.

Grindery aims to replace alphanumeric blockchain addresses with human-readable names, making cryptocurrency transactions easier for more than 800 million Telegram users.

This approach, according to the account abstraction-focused firm, would increase user trust and improve the usefulness of tokens that are available on Telegram across EVM-compatible blockchains including Ethereum, Binance Smart Chain, and Polygon.

The smart wallet is one of the most widely used account abstraction contracts across several decentralized networks, per a Dune Analytics dashboard.