Friday, March 29, 2024

ERC-827

by Hideo Nakamura
ERC-827

ERC-827 is a standardized token protocol that was developed to provide the same functionality as Ethereum’s ERC-20, but with additional features. It was created by developers at SCX Ventures in 2017 and has since been adopted by many projects within the blockchain space.

The main purpose of ERC-827 is to enable tokens to be sent from one address to another with more control than what is currently available through other standards like ERC-20. This includes allowing users to specify whether or not they want their transfers executed immediately or if they would prefer them held until certain conditions are met (known as “conditional transfers”). Additionally, this standard allows for multi-stage transactions where multiple parties need to approve a transaction before it can be completed.

One of the most important aspects of ERC-827 is its compatibility with existing smart contracts built on Ethereum’s network. Since it follows an established set of rules, any project that uses this protocol should work seamlessly with existing infrastructure without needing special modifications or extra programming effort on behalf of developers.

In addition, some projects have used this protocol as a way to introduce new features into their platforms such as “atomic swaps” which allow two different cryptocurrencies to be exchanged directly between two parties without involving any third party intermediaries. This provides added security and reduces fees associated with traditional cryptocurrency exchanges due to there being no middleman involved in the process.

Overall, ERC-827 offers several advantages over other token protocols including increased flexibility when making payments or conducting atomic swaps, compatibility with existing infrastructure and lower transaction costs compared to regular exchanges making it an attractive option for blockchain based projects looking for enhanced functionality within their systems

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