Erc-777
| ERC-777 is a token standard for producing fungible tokens on the Ethereum network, which allows a novel token contract interaction method that is backward compatible. The ERC-777 standard defines a set of rules and functions that a contract must implement to be considered an ERC-777 compliant contract. These rules and functions enable the transfer of ERC-777 tokens between addresses, and the execution of ERC-777-compliant contracts. The ERC-777 standard was created to address the shortcomings of the ERC-20 token standard. The ERC-20 standard only defines a set of rules for the transfer of tokens between addresses. It does not define any rules or functions for the execution of contracts. This means that ERC-20 tokens can only be used to transfer value between addresses, and cannot be used to execute contracts. The ERC-777 standard addresses this issue by defining a set of rules and functions that allow ERC-777 tokens to be used to execute contracts. This enables ERC-777 tokens to be used for a variety of applications, including smart contracts, decentralized applications, and tokenized assets. The ERC-777 standard was created by the Ethereum Foundation, and is based on the ERC-20 token standard. The ERC-777 standard is backward compatible with the ERC-20 standard, which means that ERC-20 tokens can be transferred to ERC-777 addresses. The ERC-777 standard is an improvement over the ERC-20 standard, and provides a more versatile and powerful platform for the development of decentralized applications and tokenized assets. |
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