Vitalik Buterin Posted in X: Let’s work together on rolling out ERC-3770 and ERC-7683 today!
Ethereum community and its developers, including Vitalik Buterin, are constantly proposing and discussing new EIPs to improve the Ethereum blockchain. These proposals cover a wide range of enhancements, from technical improvements to the core protocol to new standards for tokens and other smart contract functionalities.
EIPs (Ethereum Improvement Proposals) are a vital part of the Ethereum ecosystem’s evolution, providing a formalized process for proposing changes and new features. The ERC (Ethereum Request for Comments) subset of EIPs focuses specifically on standards within the Ethereum ecosystem, including standards for tokens such as ERC-20 (for fungible tokens) and ERC-721 (for non-fungible tokens, or NFTs).
If Vitalik Buterin or any other community member were to propose working on ERC-3770 and ERC-7683, it would involve drafting the proposals, discussing them with the community, and going through a review process. This process ensures that any new standards or improvements are thoroughly vetted and agreed upon by the community before being adopted.
To stay updated on the latest EIPs and their status, including any potential future proposals like ERC-3770 and ERC-7683, you can follow the official Ethereum EIP GitHub repository or other Ethereum community forums and news sources. These platforms provide detailed information on all proposals, including their current status, discussions, and any updates or changes.
The key features of ERC-3770 include:
- Prefixes: Addresses following the ERC-3770 standard start with a prefix that identifies the network or chain. This is particularly useful in a multi-chain environment, helping users and applications easily distinguish between addresses on Ethereum mainnet, testnets, or other EVM-compatible chains.
- Checksum: Like the checksum mechanism in EIP-55 (which enhances the basic Ethereum address format by capitalizing certain letters to introduce a basic, case-sensitive error-checking capability), ERC-3770 aims to include a checksum for error detection. This helps prevent errors when addresses are typed manually.
- Standard Format: By defining a standard format, ERC-3770 aims to facilitate the integration of Ethereum addresses across different platforms and applications, making it easier for wallets, exchanges, and other services to support a wide range of networks without confusion or the risk of sending assets to the wrong chain.
The introduction of ERC-3770 addresses a critical need for standardization as the blockchain ecosystem becomes increasingly complex with the proliferation of layer 2 solutions and sidechains. By making addresses more informative and error-resistant, the standard could significantly enhance user safety and confidence.
A key consideration is to ensure that a broad range of cross-chain intent designs can work within the same standard. To enable this, the specification is designed around a standard cross-chain intents flow, while allowing for varying implementation details within that flow.
ERC-7683. Standard cross-chain intents flow:
- The swapper signs an off-chain message defining the parameters of their order
- The order is disseminated to fillers
- The filler initiates the trade on the origin chain
- The filler fills the order on the destination chain
- A cross-chain settlement process takes place to settle the order
Within this flow, implementers of the standard have design flexibility to customize behavior such as:
- Price resolution, e.g. dutch auctions or oracle-based pricing
- Fulfillment constraints
- Settlement procedures.
The orderData field allows implementations to take arbitrary specifications for these behaviors while still enabling integrators to parse the primary fields of the order.
This functionality also motivated the resolve view function and ResolvedCrossChainOrder type. Resolution enables integrating fillers to validate and assess orders without specific knowledge of the orderData field at hand.