New Advances in Cross-Chain Transaction Experience: Understanding Optimism's ERC-7802 Standard
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New Advances in Cross-Chain Transaction Experience: Understanding Optimism's ERC-7802 Standard
Compatible with ERC-20 assets, providing standardized interaction interfaces to enhance cross-chain transaction efficiency—the new opportunity for DeFi protocol developers.
Navigating Web3 tides with focused insightsAuthor: imToken
Following Optimism's announcement of adopting the ERC-7683 cross-chain standard and Uniswap’s declaration that its blockchain, Unichain, would join the Optimism Superchain ecosystem, in November 2024, Optimism once again partnered with Uniswap to launch the ERC-7802 cross-chain asset standard, bringing new promise for improving cross-chain transaction efficiency.
Technical Overview of ERC-7802
ERC-7802 provides a standardized technical framework for cross-chain transactions, featuring two key functions:
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crosschainMint: Mints assets on the destination chain.
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crosschainBurn: Burns assets on the source chain and initiates a cross-chain transfer.
These two core functions establish a standardized interface for cross-chain interactions, significantly enhancing the efficiency of cross-chain asset transfers. Any cross-chain protocol implementing the ERC-7802 standard can leverage this uniform interface, eliminating the need for individual token contracts to be modified for cross-chain functionality. This greatly improves interoperability across application layers within the Ethereum ecosystem.
Application Prospects of the ERC-7802 Standard
Since 2024, Optimism has consistently advanced technical initiatives to enhance cross-chain asset interoperability. The introduction of the ERC-7802 standard is set to play a pivotal role in building the Superchain ecosystem.
● Enabling Seamless Cross-Chain Asset Flow: In mid-November 2024, Optimism further refined the Superchain’s architectural design by introducing "Native Interoperability," enabling fast and secure inter-chain communication. Combined with the multi-chain fault proof mechanism, this advancement lays the foundational groundwork for implementing the ERC-7802 standard.
● Enhancing Connectivity Across Layer2 Ecosystems: Optimism has optimized intent-driven cross-chain systems, such as integration with the Across protocol, significantly reducing asset transfer times and enabling direct interoperability between multiple Layer2 networks. This reduces reliance on the Ethereum Layer1 mainnet as a central hub. As a result, users can transfer assets faster and at lower cost, while developers gain tools to build more efficient cross-chain solutions. Furthermore, ERC-7802 maintains high compatibility with the ERC-20 standard, dramatically simplifying cross-chain operations and opening new opportunities for DeFi protocol developers.
Learn more about SuperchainERC20 currently under development: Built upon the ERC-7802 standard, it aims to achieve seamless asset interoperability across the Superchain ecosystem.
For technical documentation, please refer here.
● Boosting Superchain Economic Efficiency: By optimizing inter-chain communication and resource utilization, the ERC-7802 standard enables faster settlement paths and a more efficient Filler network within the Superchain, thereby lowering overall operational costs. These improvements are expected to attract more users and developers into the Optimism ecosystem.
Data shows that by late November 2024, Optimism’s total value locked (TVL) reached approximately 7.75 billion USD, an increase of nearly 37% since August 2024. Meanwhile, the total TVL across all Layer2 networks hit an all-time high exceeding 51.5 billion USD. This surge highlights the growing importance of Layer2 solutions in scaling Ethereum by alleviating congestion, reducing transaction fees, and minimizing wait times on the mainnet.
Future Outlook
One of the most significant upgrades in Optimism’s 2024 roadmap has been advancements in interoperability.
With the ERC-7802 standard, Optimism will further strengthen its technological competitiveness in the cross-chain domain. This standard not only attracts more cross-chain ecosystem developers but also enhances technical synergy with major partners like Uniswap, positioning Optimism more advantageously among Layer2 scaling solutions.
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