What Is ERC-777?

ERC-777 is a proposed Ethereum token standard that seeks to improve upon the existing ERC-20 token standard. It was created by Fabian Vogelsteller, who also developed the original ERC-20 standard. The main difference between ERC-777 and its predecessor is that it allows for more flexibility in terms of how tokens can be transferred and used within smart contracts. This means that developers have greater control over their tokens, allowing them to create custom rules for transfers or even set up automated processes such as dividend payments. Additionally, this new standard provides better security than the previous one since it requires fewer transactions when transferring funds from one address to another.

The goal of ERC-777 is to make Ethereum tokens easier to use while providing enhanced security features compared with other standards like ERC-20. For example, users will no longer need multiple transactions when sending funds from one address to another; instead they can simply send all necessary information in a single transaction using an operator contract which acts as an intermediary between two addresses on the blockchain network. Furthermore, this new protocol also supports atomic swaps which allow users to exchange different types of digital assets without having any third party involved in the process. All these features are expected to increase adoption rates among developers and businesses looking into utilizing Ethereum’s technology for their projects or services

See also  Dual-Token Economy/Model (Two-Token Economy)

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