Learn about the ERC-7802 standard launched by Optimism in one article

After Layer2 solution Optimism announced the adoption of the ERC-7683 cross-chain standard and decentralized trading platform Uniswap announced that its blockchain Unichain joined the Optimism hyperchain ecosystem, in November 2024, Optimism once again joined forces with Uniswap to launch the ERC-7802 cross-chain asset standard, bringing new prospects for improving the efficiency of cross-chain transactions.

Technical connotation of ERC-7802

ERC-7802 provides a standardized technical framework for cross-chain transactions. There are two key functions in this technical standard:

• crosschainMint: Cast assets on the arrival chain.

• crosschainBurn: Destroy assets on the starting chain and initiate cross-chain transfer.

These two key functions provide a standardized interactive interface for cross-chain transactions, which can improve the efficiency of cross-chain asset transactions. Because any cross-chain protocol that calls the ERC-7802 standard can use this standardized interactive interface, and the asset (Token) contract itself does not need to be revised to achieve cross-chain transfer, which is very helpful for improving the interoperability of the application layer of the Ethereum ecosystem.

 Application prospects of ERC-7802 standard

Since 2024, Optimism has continued to deploy a number of technologies to enhance the interoperability of cross-chain assets. The introduction of ERC-7802 standard will also play an important role in Optimism's creation of Superchain ecology.

●  Promote the seamless flow of cross-chain assets:In mid-November 2024, Optimism further improved the ecological architecture of Superchain and achieved fast and secure communication between chains by introducing "Native Interoperability". This technology, combined with the multi-chain fault-proof mechanism, provides a practical basis for the implementation of the ERC-7802 standard.

●  Promote the interconnection and interoperability of the Layer2 ecosystem:Optimism optimizes the cross-chain intention-driven cross-chain system, such as the integration with the Across protocol, which significantly reduces the time for asset transfers, enables direct interoperability between multiple Layer2 networks, and reduces the need for users to rely on the Layer1 mainnet as a hub. As a result, users can transfer assets faster and at a lower cost, and developers can provide more efficient cross-chain solutions. The ERC-7802 standard is highly compatible with the ERC-20 asset standard, which greatly reduces the complexity of cross-chain operations and provides new opportunities for developers of DeFi protocols.

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Learn more

SuperchainERC20 under development:It is developed based on the ERC-7802 standard and aims to achieve asset interoperability in the Superchain ecosystem.

For related technical documents, please refer to:

https://docs.optimism.io/stack/interop/assets/superchain-erc20

●  Improve Superchain economic efficiency:By optimizing inter-chain communication and resource utilization, the ERC-7802 standard provides Superchain with a faster settlement path and a more efficient Filler network, thereby reducing overall operating costs. These improvements will help attract more users and developers to participate in Optimism ecosystem.

Data shows that as of late November 2024, Optimism's total asset lock-in (TVL) was approximately $7.75 billion, an increase of nearly 37% since August 2024; and the total asset lock-in of the Layer2 network reached an all-time high of more than $51.5 billion. This surge reflects the importance of Layer2 solutions in scaling Ethereum by reducing congestion, transaction costs, and mainnet waiting time.

Future Outlook

One ​​of the most significant improvements in Optimism's 2024 roadmap is the change and improvement of interoperability.

And through the ERC-7802 standard, Optimism will further strengthen its technical competitiveness in the cross-chain field. This standard will not only help attract more developers in the cross-chain ecosystem, but also enhance its integration with Uniswap. The technical collaboration capabilities of major partners such as ETH and ETH make it more advantageous in Layer2 expansion solutions.