Ethereum developers are introducing two new token standards, ERC-7930 and ERC-7828, to improve blockchain interoperability and simplify cross-chain transactions. This initiative aims to streamline the user experience (UX) for decentralized applications (DApps), wallets, and smart contracts by standardizing the way blockchain addresses are handled across different networks.
Currently, there is no unified way for wallets, apps, or protocols to interpret or display cross-chain address information. As a result, users often face an inconsistent and messy experience when interacting with decentralized finance (DeFi) ecosystems. This fragmentation has created barriers to seamless cross-chain transactions, leading to confusion and occasional errors in asset transfers. The introduction of ERC-7930 and ERC-7828 aims to address these issues by providing a more consistent and user-friendly way to handle blockchain addresses across Ethereum and other interconnected chains.
Wonderland, a development group focused on Ethereum DeFi, highlighted this challenge in a May 1 post, noting that “wallets, decentralized applications (DApps), block explorers, and smart contracts follow different rules.” The organization, which collaborates with several prominent DeFi protocols including Optimism, Aztec, Connext, and Yearn, has taken the lead in proposing these new standards.
ERC-7930 defines a compact, binary format specifically designed for interoperability. It is optimized for protocols that require a single representation for all blockchains. This machine-readable format ensures that systems interacting with blockchain addresses can easily parse and route transactions across different networks without issues. By establishing a standardized way to interpret blockchain addresses, ERC-7930 aims to improve automation and eliminate errors caused by mismatched address formats.
In contrast to ERC-7930, ERC-7828 introduces a human-readable layer to address interoperability. Using formats like “address@chain,” ERC-7828 enables users to identify which blockchain a particular address belongs to, making it much easier to work with multiple blockchains in the Ethereum ecosystem. This format simplifies the cross-chain transaction process, allowing users to view and interact with addresses in a more intuitive manner.
Teddy from Wonderland, a prominent figure behind the proposal, explained that ERC-7828 is designed for anything that interacts with humans, serving as the “text layer” that ensures clarity and simplicity for users. The goal is to make blockchain addresses easier to read and manage, especially for those who may not be familiar with complex cryptographic address formats.
The combination of ERC-7930 and ERC-7828 will help prevent costly mistakes in crypto transactions. One of the major issues with current cross-chain interactions is the potential for users to send assets to the wrong blockchain. In some cases, users accidentally send tokens to addresses on incompatible networks, resulting in the loss of assets. The new standards aim to prevent this by specifying both a human-readable address format and a machine-readable format, thus allowing users to select the appropriate blockchain when making transactions.
For example, the proposed system would allow users to send payments with an address like “address@chain,” where the blockchain destination is clearly indicated. This will prevent users from accidentally sending assets to the wrong blockchain, reducing the chances of losing funds during transactions.
Moreover, ERC-7930 and ERC-7828 would allow wallets to operate in a blockchain-agnostic manner. The new format would eliminate the need for users to manually switch between different networks in their wallet settings when transferring assets between chains. By simply inputting an address, the wallet would automatically recognize which blockchain the transaction is meant for, streamlining the process and enhancing the overall user experience.
The developers behind ERC-7930 and ERC-7828 are actively seeking feedback from the Ethereum community, particularly through the ETH-Magicians forum, to finalize these token standards. With these proposals, Ethereum aims to improve interoperability and enhance the multichain experience for both developers and users.
As the Ethereum ecosystem continues to grow and integrate with other blockchains, these standards could play a key role in ensuring seamless cross-chain interactions. This initiative is part of a broader trend in the blockchain space to create more user-friendly and efficient systems for interacting with decentralized networks. By addressing the complexities of cross-chain transactions, Ethereum is taking important steps toward becoming a more interconnected and accessible platform for decentralized finance and beyond.
In conclusion, ERC-7930 and ERC-7828 promise to simplify the process of cross-chain transactions by standardizing blockchain address formats, making them more intuitive for users and efficient for developers. By providing both machine-readable and human-readable formats, Ethereum is making strides toward a more seamless and cohesive multichain experience, positioning itself at the forefront of blockchain interoperability.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
Get the latest Crypto & Blockchain News in your inbox.
Join Now