Developers are finalizing two new standards for Ethereum, ERC-7930 and ERC-7828, designed to simplify transactions across multiple chains. The ERC-7930 standard provides a uniform format for computers to recognize network-specific addresses, while the ERC-7828 introduces human-readable addresses like 'readonly@decrypt.this.' These changes are expected to reduce user errors when sending assets by making it easier to identify which network an address belongs to. The aim is to improve cross-chain transactions, making it safer and more user-friendly for individuals interacting with the Ethereum ecosystem. The final call on these standards is set for May 9th, following community feedback, aiming for implementation in wallets and other tools shortly thereafter. The upgrades come ahead of the impending Pectra upgrade, which is set to roll out on the Ethereum mainnet on May 7, enhancing the network's capabilities after the transition to proof-of-stake in 2022. This initiative addresses ongoing pain points with cross-chain address confusion and aims to enhance overall user experience in decentralized finance.

Source 🔗