Biconomy (BICO) is a multichain relayer protocol that seeks to enhance the user experience on decentralized applications (DApps). It strives to make web3 products as intuitive and user-friendly as web2 products. Biconomy focuses on transaction management and gas optimization, and aims to reduce gas costs. It achieves this by utilizing meta transactions, which allow users to submit a transaction with zero gas, with a third party covering the transaction fees. Biconomy's non-custodial and gas-efficient relayer infrastructure network enables this process at scale.

Biconomy works by providing an infrastructure that addresses several web3 bottlenecks. It allows protocols to onboard users without them having to pay gas fees. Users can pay gas in an ERC-20 token of their choice, avoiding blockchain complexities like network changes. Transactions aim to be confirmed more quickly, enhancing the overall user experience. Biconomy's protocol uses meta transactions, which means users can submit a transaction with zero gas, and a third party pays the transaction fees. This approach is made possible by Biconomy's non-custodial and gas-efficient relayer infrastructure network.

Biconomy has a wide range of potential use cases, particularly in improving the user experience on decentralized applications. For instance, Curve Finance uses Biconomy to perform meta transactions for gasless BTC deposits, allowing users to provide liquidity without paying gas to swap them for RENBTC. Perpetual Protocol offers gasless transactions to its traders on the xDAI chain thanks to Biconomy, eliminating the need for users to change the RPC url in their web wallet. Decentral Games aims to improve the gaming experience by removing gas fees with Biconomy's help, and Sapien Network enables gasless transactions for bloggers on its platform.

Biconomy was founded by an international team of blockchain entrepreneurs, including Ahmed Al-Balaghi, Sachin Tomar, and Aniket Jindal. Al-Balaghi, a Queen Mary University alumnus, has spent over three years in the blockchain industry in China, the UK, and the United Arab Emirates. Tomar and Jindal are Indian blockchain entrepreneurs with backgrounds in software engineering and blockchain projects, respectively. Biconomy has backing from various blockchain venture capitalists. The BICO token, the network's native utility token, was introduced with a total supply of 1 billion. BICO is used to pay transaction fees, receive compensation from staking, and vote on governance proposals.

Biconomy aims to modify and adjust transaction processes on the blockchain by providing an adjustable relayer infrastructure. This infrastructure enables a simple and customized transaction journey, reducing the complexities often associated with blockchain transactions. Biconomy's solutions aim to decrease drop-off rates and increase user adoption by aiming to enhance the user-friendliness of web3 products. Biconomy addresses several bottlenecks in the transaction experience, such as the necessity to pay a gas fee every time a user interacts with a decentralized application, the long and complicated onboarding process for new users, and the requirement for proficiency in complex blockchain technicalities.

Biconomy intends to streamline the user experience in decentralized applications (dApps) by addressing challenges such as gas fees and transaction speed. It employs a concept known as meta transactions, which allow users to conduct transactions on the blockchain without needing to pay gas fees. Instead, developers or other third parties can opt to cover these costs. This approach seeks to reduce the financial barriers often associated with interacting with dApps. Biconomy has developed a product called Hyphen, which facilitates efficient token transfers across multiple blockchains. This is achieved by maintaining token liquidity on both chains and executing transactions with reduced latency.

Biconomy aims to provide support for a variety of blockchain networks and protocols. Biconomy's approach includes features such as gasless transactions, cross-chain compatibility, and network fee management. It provides a decentralized relayer network where anyone can participate and contribute to the transaction management and execution layer of web3. Biconomy's relayer network includes node operators, validators, and executors that work together to execute and validate transactions across supported chains. The platform also aims to support a wide range of tokens for transaction fees. Biconomy seeks to contribute to the blockchain landscape with the intention of increasing the intuitiveness of web3 products.

The process of integrating Biconomy into decentralized applications involves several steps. Initially, developers aim to create a smart contract that facilitates user interaction with the application. This contract is designed to include functions that allow users to input and retrieve data. Once the contract is defined, it can be deployed to any EVM chain using tools such as Remix or Hardhat. Following this, a frontend web application is constructed to interact with the contract. This process involves setting up the frontend, incorporating Biconomy packages, and configuring the application to function in conjunction with Biconomy. Subsequently, a feature is incorporated that allows users to authenticate themselves using their existing online accounts, eliminating the need for them to create a wallet first. Lastly, the system incorporates gasless transactions. This feature allows users to engage in transactions without the need for tokens or covering gas fees. In this setup, the DApp creator handles the gas costs.

The privacy and security of user transactions in blockchain applications are sought to be ensured through a multi-layered approach. Advanced encryption algorithms are employed with the intention of safeguarding personal information and transaction data, aiming to ensure confidentiality and prevent unauthorized access. Multi-factor authentication is implemented, with the aim of adding an extra layer of security by requiring users to provide multiple forms of identification before accessing their funds. Regular security audits and penetration testing are conducted with the intention of identifying and addressing potential vulnerabilities in the system. This proactive approach to security, combined with the use of advanced technology, seeks to provide a safe environment for cryptocurrency transactions.

Biconomy aims to enhance the ease of use and accessibility of Web 3.0 applications for both developers and users. For developers, Biconomy provides a robust suite of user-friendly SDKs and APIs, enabling them to create decentralized applications (DApps) with fully customizable transaction journeys. This includes the ability to implement transactions without additional fees, cover transaction costs with any digital asset, and reduce the number of transaction steps with the help of batching. Biconomy provides Account Abstraction features, which allow users to cover transaction costs with any digital asset and provide account recovery options. For users, Biconomy strives to simplify the interaction with and use of DApps. This includes reducing the complexity of creating a wallet, acquiring digital assets, and understanding transaction costs. Biconomy provides a platform with smart contract wallets and personalized transaction experiences, aiming to simplify the use of DApps.

Vulcan Forged supports a variety of gaming experiences, primarily focusing on play-to-earn (P2E) games. The platform incubates decentralized applications (DApps), supports third-party game creators, and facilitates NFT trading. The most popular game on Vulcan Forged is VulcanVerse, a fantasy massively multiplayer online role-playing game (MMORPG) where players can acquire and upgrade land and receive NFTs. Other games include Forge Arena, Berserk, Vulcan's Battle Chess, Vulcan Poker, Vulcan Tower Defense, Vulcan Assassin, and Vulcan Runner. These games offer diverse experiences, from card strategy and chess to poker and tower defense. The platform also supports a VR NFT game called Tartarus. Vulcan Forged strives to provide a diverse gaming ecosystem that caters to a wide range of player preferences and gaming styles.

Biconomy addresses interoperability concerns by offering a suite of solutions that aim to simplify user interactions with decentralized applications (dApps) across multiple blockchain networks. One of its key features is the ability to facilitate transactions that do not require users to pay gas fees. This is achieved through the use of meta-transactions, a technique that allows developers to cover gas fees on the backend, with the intention of improving the user experience. Biconomy supports multiple blockchain networks, providing a unified solution that is designed to work across different networks. Biconomy's Hyphen Protocol is designed to support cross-chain transactions, aiming to facilitate asset transfers between different blockchains. This is intended to support a multi-chain ecosystem, improving interoperability and composability.