Biconomy is a cross-chain protocol that aims to simplify the usage and adoption of web3 and other decentralised apps (dApps) by improving transaction speeds, eliminating exorbitant gas fees and making dApps currency agnostic (i.e. users don’t need to switch networks or exchange for a specific ERC-20 token).
Biconomy does this through SDKs and APIs that let web3 developers access what they call a multi-chain relayer network that automatically routes and balances transactions in the most efficient way.
BICO is the native utility token of the Biconomy network, used for network fees and staking, as well as allowing holders to take part in decisions about the protocol and fee structures.
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